Benefits of Digital Integration in Supply Chain
A supply chain ecosystem includes various business processes, resources, stakeholders, information, vendors and distributors that coordinate and exchange data in every step of the operations. With so many partners involved, the most comprehensive, enterprise-wide collaborations are required to keep pace with everyone involved.
Forward-thinking supply chain companies are turning to digital integration to take advantage of the latest technologies such as big data, the Internet of Things, artificial intelligence, machine learning and augmented reality.
So what is digital integration in the supply chain?
In an integrated supply chain platform, all the stakeholders share a common database to orchestrate the entire supply chain collaboration process to navigate the ever-increasing list of risks and disruptions.
It helps to increase supply chain peer-to-peer connectivity and secured data exchange with carriers, customers and suppliers and gives real-time visibility and traceability of shipments.
Digitalizing and integrating processes also help to collect data and advanced analytics from across the enterprise to sense and meet changes in demand more accurately, end-to-end collaboration, streamline operations and increase productivity.
Benefits of digital integration:
Increase productivity: Digital integration eliminates paper-based, manual supply chain processes by automating tasks like ordering and scheduling, which otherwise require manual interventions and duplicating of repetitive tasks. So, employees can devote more time to strategic decision-making to optimize the supply chain process, redefine new business strategies and enhance productivity by eliminating time-consuming, redundant, and unnecessary processes.
Data-driven decision-making: Digital integration is enabled by many data-driven technologies, including big data, machine learning and IoT that automatically collects, assimilate and analyze past, present and predictive data. Accurate data analysis becomes more available to the right management team, helps faster decisions making in real-time and evaluates, plans and keeps informed customers about the market trends.
Better Customer Experience: Automating the process with digital integration helps supply chain companies in increasing efficiencies, optimizing operations, better visibility and responding to customers' needs in real-time. In addition, using digital platforms supply chain companies can provide tracking information and notifications to their customers.
Improved Visibility: A digitally integrated supply chain provides real-time visibility into every step of supply chain processes, identifies gaps that may cause disruptions and better understand the customer needs. It also helps to be better prepared in case of tough decision making.
Reduce costs and save time: In digital integration shared and up-to-date data enables companies to anticipate possible challenges and gives holistic information about performance, status, and requirements. This helps to manage and optimize logistics processes, such as inventory management, forecasting, route optimization and resource planning. With the advanced information in hand, supply chain companies can reduce time, save costs and enhance productivity and growth.
With the rise in demand for coordinating operations and communicating with all, digital integration is the key to success in the supply chain in the present times. The unified integrated data model digitally allows supply chain companies to manage workflow, and securely exchange data to collaborate across multiple partners, thus helping them in optimizing costs, time and reliability. The industry calls you to be ready for changes and new demands. Stay ahead of your competition with predictive analysis and digital integration.