Maximizing Revenue and Profitability with Intelligent Supply Chain Workflows
The COVID-19 pandemic has had a profound impact on supply chains around the world. In order to adapt to this new reality, organizations must become more agile, responsive, and resilient. This means being more connected to both their external environment and their internal processes. In order to survive and thrive in the face of this ongoing crisis, businesses must be willing to adapt and evolve their supply chain strategies.
A smarter supply chain that uses intelligent workflows fueled by data-driven decisions is a new and effective approach. However, implementing this approach requires a strong organizational culture that supports innovation and prioritizes beneficial initiatives. Fortunately, there are organizations we've partner with that can serve as mentors and show you how to successfully adopt this approach.
Intelligent workflows are essential for ensuring that supply chains are responsive and efficient.
These AI-driven processes automate as much as possible, allowing for seamless integration and coordination across different functions and providing comprehensive visibility into the supply chain. Intelligent workflows also support the control tower, a digital platform that provides data, metrics, and event information to help supply chain managers make informed decisions. In addition to improving efficiency, control towers also facilitate collaboration between supply chains and their customers, helping them to tackle common challenges together.
Intelligent workflows can improve reliability and reduce risks, helping companies to address challenges such as:
- Workforce dislocation
- Supply chain disruptions
- Customer service issues
As we move into the post-pandemic world, it is difficult to predict exactly what the future will hold.
However, intelligent workflows can help to:
- Build a smarter, more resilient global supply chain
- Bridge the gap between the unpredictable and the anticipated.
Intelligent workflows enable supply chain orchestration by providing a comprehensive, 360-degree view of the supply chain, allowing for seamless integration and coordination across different functions.
They also facilitate the automation of processes, helping to streamline operations and improve efficiency.
There are many different supply chain KPIs that can be improved through orchestrating processes. Some examples include:
- Inventory turn rate: This is a measure of how quickly inventory is moving through the supply chain.
- Order fulfillment time: This is a measure of how quickly orders are fulfilled and delivered to customers.
- On-time delivery rate: This is a measure of how often orders are delivered on time.
- Perfect order rate: This is a measure of how often orders are delivered complete and without errors.
- Cost per unit: This is a measure of the total cost of producing and delivering a product or service.
The ROI of a supply chain digital transformation project will depend on a number of factors, including the specific technologies and processes implemented, the size and complexity of the supply chain, and the level of support and buy-in from stakeholders. In general, supply chain digital transformation projects can help to improve efficiency, reduce costs, and increase revenue. Some specific ways in which these projects can generate ROI include:
- Improved inventory management: digital technologies can help to optimize inventory levels and reduce excess inventory, which can save on storage and carrying costs.
- Faster order fulfillment: tech can help to streamline the order fulfillment process and reduce the amount of time it takes to complete an order, which can increase customer satisfaction and reduce the need for costly rush orders.
- Enhanced collaboration: digital supply chain management solution can help to improve communication and collaboration among different stakeholders in the supply chain, which can increase efficiency and reduce the potential for errors.
- Increased agility: digital technologies can help to improve the ability of the supply chain to respond to changing market conditions and customer demands, which can help to maintain a competitive edge.
Overall, the ROI of a supply chain digital transformation project will depend on a variety of factors and should be carefully evaluated on a case-by-case basis.
At Metronome we always look for 5x ROI in weeks.