It's a well-known fact that technologies influence the dimensions, types, and consequences of our work-life balance on every level and provide users with numerous benefits, including (but not limited to):
How we access and share personal information and data, ranging from credit card numbers and healthcare records to family photos and music, is increasingly "live" in the cloud.
However, all too often, supply chain managers often continue to rely on too many outdated, labor and time-intensive, manual processes and are not yet realizing the value of data within the business world.
Technology is changing how we perform our daily tasks on every level, particularly within supply chain management. Vast quantities of actionable data transform supply chain management capabilities radically, leading the way to make them exponentially faster and unquestionably more efficient by breaking down information silos.
They got it right!
Those supply chain managers who realize incorporating the latest technology ensures they can gain better accountability and visibility, maintain tight control, stay ahead of the curve, and meet consumers' ever-increasing quality and service expectations.
Transforming Supply Chain Management
The mobility, flexibility, and convenience of a digitized supply chain mean supply chain managers can coordinate processes at every link in the chain, regardless of industry sector, business vertical, size, or physical location.
According to GlobeNews Wire's 'Global Big Data Market Insights 2020-2025' report:
- Big data in cognitive computing will reach USD 18.6B globally by 2025
- Big data application infrastructure will reach USD 11.7B globally by 2025
- Real time data will be a fundamental value proposition for all use cases, segments, and solutions
- Market-leading companies are rapidly integrating big data technologies with IoT infrastructure
The benefits of digitizing your supply chain to enable visibility, traceability, and accountability are relatively obvious. Knowing where your goods are located at any point of the supply chain and predicting or getting notified of supply chain disruptions enables you to deploy contingency plans and address these issues and positively impacts your profitability, resource planning, and customer satisfaction.