How will you know your supply chain is ready for a digital transformation?
Many businesses are in store for a supply chain digital transformation. While it may sound like a daunting task at first, small steps can lead to big changes within an organization. Most businesses are doing some of the steps necessary to prioritize the digital aspects of their organization, but not connecting the dots to create an end-to-end solution. Digital transformations accelerated during the pandemic, and now are accelerating even more as businesses attempt to keep up with changing global supply chains that still have no signs of returning to normal. Take for example the Financial Services industry, where 94% of CEOs want to maintain or accelerate the already intense pace of digital transformation sparked by the pandemic, and 70% of CFOs expect digital technology to get more funding. Through automation, businesses are finding that they can increase efficiency, while simultaneously cutting down on costly processes throughout the organization.
Why should supply chains care about their own digital transformations?
Supply chain digital transformations and tech stacks continue to be one of the main ways that businesses can stay on top of their competitors and meet customer needs. The question is when businesses make the shift, and how big the changes are. Today, most supply chains are lacking end-to-end visibility into their processes, exacerbating the need to move to a digital supply chain. Gartner has found that the most pressing challenge in digital transforming a supply chain is siloed organizational structures. A key component is taking small but deliberate steps towards digitizing your supply chain and connecting disparate systems.
What are the benefits of making a digital transformation in your supply chain?
There are many benefits that come along with automating and digitizing your supply chain:.
- Increased Efficiency
- AI can automate many tasks that were previously done manually, freeing up valuable time for supply chain executives and their teams. With Generative AI, the technology does the work for you to answer frequently asked questions, provide real-time updates on shipments, and even help with data analysis.
- Improved Customer Service
- AI’s natural language processing capabilities enable it to understand and respond to customer queries and concerns quickly and accurately. This results in improved customer satisfaction, as well as reduced wait times and call volumes for customer service teams.
- Cost Savings
- By automating manual processes and reducing the workload of customer service teams, AI can significantly reduce operating costs for supply chain businesses. Additionally, its ability to quickly process data and provide insights can help companies avoid costly mistakes and inefficiencies
Supply chain digital transformations can seem like a daunting task; but with new challenges constantly coming into focus for global supply chains, businesses need to make digital initiatives a priority to stay in the game. Request a demo today and see how you can make small, quick changes that yield big results for your entire organization.