Supply Chain Digitalisation

With the emergence of new digital technologies – such as the Internet of Things (IoT), Blockchain and Machine Learning – supply chains are now significantly more interconnected and digitalised.

Incorporating these technologies into supply chains enables companies to optimise their planning, sourcing and procurement processes.

But it is important to remember that supply chain digitalisation can look like many different things for many different companies. Some firms might choose to invest heavily and undergo a full-scale digital transformation. Whereas, others might opt to make a smaller investment, focusing on one or two specific digital areas.?

This could be for financial reasons, customer service or retention of staff just to name a few. Before going in, all guns blazing, on tech, it is important to review the advantages and challenges of implementing technologies into supply chains.

Advantages:

?·???????Help to streamline business processes.

·???????Enable businesses to optimise internal procedures.

·???????Increase efficiency and decrease costs allowing companies to automate and schedule.

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Challenges:

?·???????Impact on upfront costs, investments, resources and operations.

·???????Can be particularly challenging for companies who still use legacy and analogue systems within operations.

·???????Employees and suppliers may be unwilling to change and adopt digital technologies.

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In conclusion, we at OCI feel that it is imperative to review the challenges within your team and if it is chosen to harness technologies to implement strategies to mitigate these obstacles.

To read more about digital technologies in the supply chain you can view the full article?here.?