What Is Supply Chain Transformation And Why It Should Be On Your Checklist?

By Author: EY India
Total Articles: 6
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There was a time when supply chains and logistics were a part of the backdrop for every business. However, that is no longer the case. The sudden onset of the pandemic has intensified this wing's importance and has made it a critical factor in business operations. With technology leaving its footprint on every vertical and the customers' expectations growing exponentially, it is high time you think of supply chain transformation.
So, what exactly is supply chain transformation? Well, simply put, supply chain transformation is all about enhancing your supply chain's performance by intelligent integration of technology. Optimizing your supply chain not only helps reduce damage and improve inventory management but also lets you align it with your business goals to secrete maximum efficiency.
It's time we addressed the importance of supply chain transformation. An unoptimized supply chain is one of the concerns that most of the world's retail giants are currently trying to avoid. To emphasize its importance, you can consider that many supply ...
... chain consulting firms have come up in the last few years that help build and implement strategies to help your supply chain go through a smooth transition. To further explain the cause, here are some of the most prominent factors why a supply chain transformation is the need of the hour for your business:
• An intelligent digital supply chain lends you greater control over various supply chain functions, processes, and capabilities.
• It helps you fulfill the demands of your consumer more effectively and efficiently by improving lead times.
• Integrating data-driven processes in your supply chain help minimize damages, delays and improve overall inventory management.
• A digital supply chain helps you overlook sales and inventory more effectively.
• Going through a supply chain transformation shows quick and measurable results on the monetary front.
• If properly aligned with the business objectives, supply chain transformation also sets up the base for meeting your current and long-term goals.
These are some of the primary reasons why you should consider transforming your supply chain. In today's highly competitive business environment, a sustainable supply chain is what makes all the difference.
There are two ways you can work in having a successful supply chain transformation. You can either do it in-house or outsource the task to a supply chain consulting firm. However, finding the right skills to develop a supply chain management system may not always be possible in-house. It may lead to a waste of time and resources. Meanwhile, hiring a system that is already developed and tested and being used by other firms also seems like a better option.