Today, we’re undergoing a period of rapid disruption, forming a new normal in every aspect of life. As companies across industries struggle to enhance operations, increase productivity and improve profitability, technology has a key role to play. From chip shortages in the automotive industry to Suez Canal ship blockage, businesses across the globe are slowly recovering from the supply chain crisis. Consider cleaning supplies, home repair equipment, and staple foods, witnessing significant demand increases. Others, such as vacation products and apparel, are stuck with inventory they can’t sell. Supply networks need to evolve to withstand disruptive economic or financial downturns.
Here’s how the supply chains are disrupted in the new normal:
- Frequently changing user behavior and government regulations alter demand, making current forecasts obsolete
- Continuous travel restrictions and inspections are deferring consignments
- Sharp rise in transactional assignments caused by a spike in product demand hampers employee productivity
- Restricted supply chain visibility made it arduous for leaders to track and manage the raw materials needed for production
Unfortunately, years of cost-cutting have resulted in a lack of supply chain resilience. These problems have always existed, but they are now unavoidable. Businesses that develop long-term solutions can swiftly augment their capabilities and seize new opportunities.
Overcome the Most Complicated Supply Chain Challenges
An intelligent supply chain suite offers next-gen competencies beyond current visibility. The suite combines business rules, advanced analytics, AI, and automation, to empower professionals in the supply chain segment to effectively plan for and respond to the most complex areas, such as visibility, multi-party teamwork, and traceability.
Genuine and Comprehensive Visibility with Embedded AI
The phrase “drowning in data and starving for insights” still holds, as close to 60% of organizations have poor visibility across their supply chain, and more than three-quarters of CEOs believe that their company will struggle to accomplish its goals if there is no “one version of the truth.”
A resilient supply chain gives a single, actionable picture of the global supply chain network, allowing organizations to identify risk and opportunities in real-time. Based on contextually relevant information, they make optimized and smart decisions.
Enhanced Efficiencies with Intelligent Automation
By automating standard activities, supply chain leaders can attain newer operational agility and efficiency levels. Exception workflows are automatically integrated in supply chain intelligence offerings to respond to issues created by unexpected disruption.
AI-based Supply Chain Automation to Benefit Stakeholders
For Suppliers: Automation solutions improve supplier visibility, allowing them to know what’s happening and when, where, and why they need to act. Optimum use of AI and analytics makes the supply chain more responsive and transparent.
For Employees: Supply chain planners are stretched thin due to rising competition. Due to automation, they feel more in control. This boosts job satisfaction and brings the focus back on customers.
For Dealers: Equipment manufacturers gain better visibility into market dynamics, assess the health of their equipment, and gain insights about supply networks for parts in great demand.
For Customers: Most importantly, adequately equipped team, dealers, and suppliers can provide better service to consumers, resulting in increased loyalty and equipment uptime.
Take the First Step
There has never been a pressing need to automate and rejuvenate the supply chain strategy. The changes you make will not only enable you to overcome short-term issues but will also prepare your firm to become more robust in the long run, thanks to analytics and experience principles.
Connect to know more about how MOURI Tech can help with streamlining supply chains. Develop your supply chain and support the staff in building better relationships with consumers, dealers, and suppliers for future business success.