Are manufacturers realising the value of the digital supply chain? Many Manchester companies are still questioning whether the value of integrating their systems with those of trading partners will pay off in the long term, according to research, the fact that these kinds of questions are being asked hints at the view that manufacturing companies…
In a rapidly progressing technological panorama, the concept of a Digital Supply Chain (DSC) has come to the forefront of business management and Industrial Revolution 4.0. Predicated on the seamless integration of digital and physical elements, a Digital Supply Chain augments traditional supply chains by integrating technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), Machine Learning (ML), cloud computing and more. The ultimate outcome is an intelligently interconnected web of supply chain events, from product conceptualisation through to customer delivery, providing unparalleled speed, efficiency, and operational visibility.
The heart of a DSC lies in the ever-shifting interplay of software, applications, and web-based technologies. New-age technology suppliers, like Manchester-making a difference through their tailor-made, bespoke offerings as opposed to generic, off-the-shelf solutions. More traditional supply chains are being transformed into sophisticated, fluid, digitally driven operations, with monumental impacts being felt across various sectors, from FMCG to healthcare, to automotive and more.
A DSC has profound benefits, including significantly improved transparency, reduction in human error, superior management of demand fluctuations, and overall reduction in operational costs. For instance, Gartner’s 2020 report on supply chain technology trends projected companies having fully integrated DSCs could potentially expect a 10% revenue boost. Moreover, Deloitte’s 2020 Global Chief Procurement Officer Survey highlighted that 56% of CPOs plan to implement or improve DSC solutions within their businesses in the next two years.
However, as the landscape of DSC evolves, new challenges and complexities arise, primarily around privacy, security, and interoperability of systems. Adding to this, the implicit need for skilled human resources capable of managing, interpreting and capitalizing on the colossal amounts of data generated by DSCs cannot be overstated. This, therefore, further underscores the importance of bespoke DSC solutions aimed at addressing these unique business challenges.
Beyond the primary concept, there lie several key dimensions of digital supply chains such as digital supply network, digital twin technology, blockchain, etc. Each concept, with its unique features, offers distinctive ways to bring about large scale transformation in the way supply chain operations are perceived and executed.
In conclusion, the high-stakes world of supply chain management has found its most promising and potent ally in the form of Digital Supply Chain. While it comes with its own set of challenges and demands, the payoffs it promises in terms of efficiency, revenue increases, and strategic competitiveness makes it a venture well worth the investment.
To dive deeper into the fascinating world of Digital Supply Chain and its multifarious dimensions, you are invited to explore the Digital Supply Chain section of our blog. Or if you are intrigued by the wider vistas of technology, feel free to browse our extensive blog. Should you wish to discuss any specific aspects or explore how we at Manchester Apps can tailor a robust, secure, and efficient digital supply chain solution for your business, please do not hesitate to contact us. We look forward to being part of your digital transformation journey.