Path to Digital Innovation in Supply Chain

Supply Chain over the years transformed from tactical function supporting businesses to a function which is enabling business growth. Next level for Supply Chain evolution would be to drive future requirements and create further competitiveness for the business. 

Agile Supply Chain with ability to manage risk and drive sustainability at all levels (Functional, Financial and social) will be the basic expectation of all organisations. Customer expectations, Pace of change in market & Increase in risk quotient are major challenges ahead for any businesses and hence for Supply Chains. 

Digital Innovation is the catalyst for Supply Chain transformation but identifying relevant technology aligned with business requirements will be the Key & result in desired benefits. 

Technology enables faster decision making, efficiency improvements, transparency, integration across the various nodes & risk mitigation. Digital medium is going to change the way traditional Supply Chains have been working especially Supply Chain resources who will have to be tech savvy, multiskilled and SME to generate benefits from technology Adaption. 

Supply Chain leaders along with Organisation executive bodies are always under pressure of digital revolution noise & expected to embrace technology ahead of competitors, rightly so to gain early mover advantage. Adopting a technology without proper evaluation of its alignment with current ecosystem & organisation strategy will result in a disaster creating both monetary loss as well as adverse impact on future technology adaption.

Key role of Supply Chain leaders will be to not only identify the aligned technology but also drive the change internally for implementation of technology and also set right expectations on benefits/returns. Technology standalone cannot bring any benefits and will be as effective as ecosystems surrounding the technology.

Technology Orientation and implementation is going to be the way of life for all Business functions including Supply Chain but adapting to technology is similar to having a medication to cure any ailment, its critical to understand your body (organisation) capability to accept the medicine -PK/PD Study, right dosage form (scale & relevance) and right timings (alignment to Business requirements) to consume the medication else it may have its own side effects.