Digital Tools Accelerating Supply Chain and Operations
Blog: NASSCOM Official Blog
Did we ever imagine Digital Tools can help Supply Chain management?
COVID-19 has carved the path to leverage utilization of digital tools to survive any business operations.
The field of work which we knew needs continuous access to factory, people and resources can be also done remotely.
Yes!! You heard it right.
In these trying times, innovation and technology have made work simplified.
To decrease future shocks and be ready to map the supply chain for any situation, we have to turn our heads towards digital tools and move away from conventional procedures.
Due to the interlink of supply chain networks, even smallest disturbance will create a dramatic impact on global supply chain network.
Evolution of digital tools and its impact has flickered adaptation new technologies. The technological advancements escorted Digital Supply chain i.e. Supply Chain 4.0. Life Science companies has invested heavily on innovation that will propel their supply chain system.
Automation
Streamlining customer service with self-service has to top the list of companies. Online document submissions without complete digitization is unmanageable. However, customer portals can be handy and ease task. Collecting and evaluating real time data automatically through systems obsoletes manual data entry and time consuming tasks.
Digital ways of any line of work are functional and orders can be made. This isn’t new to people, however, the importance grew with the COVID arrival.
Digital tools focus on running the operations and reduce recovery period. Customer loyalty and engagements are catching attention along with long term relationships with customer. Jumping to digital transformation lay the stepping stone to success of automation.
To focus on more treasured tasks, incorporation of robotics and Radio-Frequency Indication (RDIF) is necessary. These automated equipment holds credit for accelerated productivity with low production cost.
IoT
The power of optimizing operations where collection and evaluation of data are the need is hidden within IoT. Visibility of real-time is provided by IoT in manufacturing processes. Sensors can be embedded in items which move along the supply chain for easy visibility and traceability.
Positively impacting on revamping of asset usage, remote monitoring, and customer service by better understanding customer behaviour and needs.
Blockchain
Most supply chain functions are still in the initial small scale implementation process. However, blockchain is a disruptive innovation. It creates a new market and value network and eventually troubles an existing market and value network.
More than 64 percent industries in life science sector plan to deploy blockchain. Specifically, pharmaceutical company can check records and products through transaction history on the blockchain.
AI
Machine learning and artificial advantages are a boon to supply chain systems. Providing intelligent solutions and self-improving analysis, can curb lengthy manual processes which will facilitate to repetitive tasks.
AI increases regulatory compliance, forecast future, identify risks, evaluate errors, enhances scheduling and logistics
Building Smarter Supply Chain Model and Revaluating Sourcing Strategy
The operational flexibility can be achieved by leveraging the power of digitization on visibility. A cloud based security rich supply chain business network is needed for trading solutions. Balance between lean operations and risk mitigation can be managed by digital tools. Creating maps which show the COVID impact on business in specific areas round the world is necessary to optimize time and work flow.
COVID- 19 has expedited the digitization across globe!
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