“If you are not moving forward, you are going backwards”. Early in my career I had a manager who pounded this fact into my head (at a time when I was quite moldable and had high brain plasticity). I, in turn, shared this fact with teams I managed as well as with the clients we served. This mindset fostered a strong bias towards action. Sometimes the actions we took were premature. Sometimes we “ready-fired-aimed” and missed the target; other times we got lucky and hit the mark. Fast-moving start-ups call this “failing fast” but they are often doing it with someone else’s money – so the pain is less than for those of us at established companies.
In our supply chain world, there is little margin for error and failure as any rate of speed is frowned upon. We are risk-averse by nature and have huge responsibilities. As a result, we are inclined to adopt a “wait and see” approach to new ways of doing things and making investments in advanced supply chain solutions. This is one of the reasons why Excel continues to be the application of choice for many in the supply chain space – despite the documented benefits of automation and machine learning.
The documented benefits from automation come from companies large and small that have invested in pilots, proven value, and (more often than not) gradually rolled out better supply chain solutions across the enterprise. These benefits have allowed many to achieve higher service levels and faster inventory turns. Is now the time for you to stop waiting? Here are a few reasons why the survey says, “yes”.
Analytics are Front and Center
Supply chain analytics will continue to gain prominence as companies harness the power of data to optimize operations, enhance forecasting accuracy, and improve overall supply chain efficiency. Advanced analytics tools will enable organizations to gain actionable insights from large datasets, enabling them to make informed decisions quickly.
Integrated Solutions Becoming Common
An increasing number of organizations seek end-to-end visibility and connectivity across their supply chains. Integrated supply chain software enables seamless coordination between suppliers, manufacturers, distributors, and sellers, fostering collaboration and reducing operational silos.
Optimization is Always a Priority
The ever-increasing complexity of global supply chains makes it harder to streamline processes, minimize costs, and improve resource allocation without “help”. Optimization tools will play a crucial role in helping companies identify and eliminate bottlenecks while improving overall supply chain performance.
Sustainability and Resilience in Supply Chains
The importance of sustainable and resilient supply chains has dramatically increased since the pandemic. Companies need to incorporate environmental, social, and governance (ESG) factors into their supply chain strategies. This will focus on responsible sourcing, reducing carbon footprints, and enhancing supply chain resilience to better withstand disruptions.
Arkieva has been at the forefront of helping our customers achieve these improvements. We also recognize that not all of the above may apply to you or your budget. And it can be hard to decide where to place your bets. Gartner has been assessing trends in supply chain solutions for years and generates an annual “Hype-Cycle” report that looks at what is rising, what is falling and what is now established. This report can help you to decide what is still a “wait and see” capability and what has gone mainstream. Arkieva would like to share this report with you.
Review the report and when you decide on your priorities, speak with our team. With solutions that include traditional enterprise planning to self-service SaaS, we are certain there is a fit for you and your objectives. At the very least, you’ll be taking a step off the sidelines and keep your team moving forward.