We live in a world of unprecedented data generation, business speed and innovation. Spreadsheet planning is unsustainable in this digital business era. To keep up, a new set of solutions is needed that automate non-value add tasks, unify data across the supply chain and provide smart answers
Over 90% of today’s data in the world has been created in last two years. Total data will grow 50X from 2010 to 20201. This applies to supply chains too as they are no longer vertically integrated organizations but an ecosystem of manufacturing partners, suppliers, logistics services providers and retailers. Product life cycles are shortening and speed of business is faster than ever. It took 75 years for a telephone to reach 50 million users. Television took 14 years to get there and iPod took 3 years (…while Pokemon got there in 19 days!). Innovation at all levels including product, technology and business model is giving rise to newer business that are challenging the incumbents. In 1920s, the average lifespan of a company on S&P 500 was 67 years. That dropped to 25 years in 1980s and 15 years in 2010s. In 2020s, 75% of the companies will be the ones NOT on the index today.
Every product around you has a supply chain. Companies along the supply chains of these products need to deliver their products at lowest cost, highest quality and fastest time while achieving profitable growth. Supply Chains have become a competitive advantage and companies are doubling down on this by digitizing their operations. Every action and reaction in supply chain operations generates data. As companies digitize this data it is imperative to implement tools to extract, analyze and collaborate this data to realize the full potential of a digital supply chain.
So how do you go about advancing your supply chain planning function in this digital business era?
Digitization is driving exponential increase in data size and global supply chains need faster and smarter answers. Supply chain planning with spreadsheets is simply unsustainable. Augmenting human intelligence with smart tools for supply chain planning gives you a competitive advantage in today’s digital supply chain era.