The digital era that companies are existing in requires them to adapt to newer and beneficial technological advancements like the digital supply chain. This concept ensures to enable companies in meeting the ever-evolving customer requirements while still extending their supply chains to a borders ecosystem. It has become imperative for CIOs and IT teams to understand how a digital supply chain can dramatically improve upon historical approaches like these. It plays a great role in driving the much needed cultural changes which prove useful in achieving successful transformation. Companies also need to realize that only dabbling in digital or launching a small independent unit, which many companies do, will not bring success. Instead, fundamentally changing the core of the business and ensuring that the digital strategy covers every aspect of the organization is a must.
Digital Supply Chain: The FundamentalsThe digital supply chain is a process of networking between individuals and organizations involved in a business deal that is initiated in a paperless environment, using web-enabled capabilities. The whole process done with the aid of digital technology is termed as digital supply chain. It is basically a set of two or more individuals or organizations directly involved in selling or buying services, products, information from a source to a buyer. As a result of its growing popularity, it is being used more widely in today’s world.
Building the Digital CultureTo fully embrace the digitization path requires companies to adopt new ways of working. Which is why it is being said that the digital impact on today’s supply chain has only begun. Its impact surely cannot be underestimated. The way in which it is shaping the business and IT world was once only dreamed of. The urgency to adapt to the multi channel experience that customers are demanding is real. The growth of the digital culture has now reached a stage where it is supposed to improve things by leaps and bounds.
Role of the Digital Culture in Digital Supply Chain SuccessThe business goal of the digital supply chain is to deliver the right product into the customer’s hands as quickly as possible. But also to do so responsively and reliably increasing efficiency and cutting costs through automation is equally necessary. The development of the digital culture integrates data across the entire supply chain, in real time without human intervention and reduces delivery lead times and in turn optimizes freight and inventory management. One major advantage of the digital culture for the digital supply chain is the rapid exchange of information which boosts the agility of the entire chain and enables much closer integration with customers.
Key Takeaways from the Whitepaper titled, "Gaining a Competitive Edge: Reimagining the Agile Digital Supply Chain"
- Coupling digital capabilities with various transformed processes help in meeting various customer requirements while also extending their supply chains.
- Several performance dimensions can be improved with the assistance of digital supply chain
- Competitiveness can be driven by agility within the supply chain. It also has the ability to deliver products and services to the needs of the specific customer preferences and the potential to disrupt entire markets.
- Digital supply chains enable companies to become more customer-centric and closer to the end-consumer, making flexible and dynamic fulfilment models such as delivery to a specific location for pick up crucial.