From fragmented thinking to poor processes and infrastructure, there’s a long list of reasons why there are unsustainable supply chains. But digitized data is set to transform the industry in a bigger way. With over three decades of experience, the commercial director for Delta Global, which is a distributor in the luxury retail server, pointed out the impact these digital changes will have on the industry.
It is really good for some people, since a lot of times, it helps point out environmental and ecological issues. The data gives us the ability to spot and react to shifts in the behavior of buyers and stay ahead of the game when it comes to the sourcing of different materials, right through to tracking and improving the last leg of the journey of the goods since it can help a lot.
So, what can this do for a supply chain? Well, it can help ensure faster, better and more economic delivery, and reducing the time in inventory tracking.
When the data is enabled, you can improve the value throughout the entire chain of supply. The production line becomes more focused on customers, and the data will help address what’s happened and help you understand the future risk. The better forecasting the control of stocks will help with reducing the waste, improve the traceability of the goods, and also help with the delivery process, to help with tying up any capital which is working.
The data can also be optimized and from there maximized in order to help understand the assets, and also use all of the materials for as much as you can.
That isn’t’ to say that there aren’t any challenges either. While this can have a positive effect on the chains of supply, not everything will be so smooth sailing. There are fears that the automation of this data can allow for new risks with little human input into the elements of this supply chain. The old-fashioned tracking system and global supply chains also can mean that businesses are failing to harness the data in the correct way.
There are many elements to this, but without the building communicative and strong relationships, the brands will be restricted by the capabilities which will influence the service and the product which is delivered to the customer at the end. From this, the brands need to be aware of the risks of false claims, and you should make sure that you’re honest about how ecofriendly the materials are, and if it isn’t, then you should figure out what type of product that you have.
There are also the challenges of information accuracy and spread. You also need to be on the ball on time zones, and how this affects the real-time data since it delays the working hours in some cases. You should invest the time in the grabbing of information, making sure it’s displayed and shared in the right manner that speaks to many people, guaranteeing the alignment in the functions and the end goal that’s required in order to advance.
The data should act as fuel for bringing the supply chain partners together. It can be hard to keep up with all of this, but if you do take the time to properly research, it will make it a whole lot better, and understanding big data is essential as well.