{"id":11485,"date":"2020-05-19T11:27:25","date_gmt":"2020-05-19T09:27:25","guid":{"rendered":"https:\/\/www.tradecloud1.com\/?p=11485"},"modified":"2020-05-19T11:27:25","modified_gmt":"2020-05-19T09:27:25","slug":"digital-supply-chain-5-tips-to-avoid-the-next-supply-chain-disruption","status":"publish","type":"post","link":"https:\/\/tradecloud.hdnk.nl\/en\/digital-supply-chain-5-tips-to-avoid-the-next-supply-chain-disruption\/","title":{"rendered":"5 tips to avoid the next supply chain disruption"},"content":{"rendered":"

92% of companies saw supply chain disruption in the wake of Corona.
\nSome issues were inevitable; some not.<\/strong><\/p>\n

However the damage would be a lot less if company supply chain management was
\nbetter equipped for the 21 st century. It\u2019s shocking almost 30% of organisations still rely on email, excel sheet, fax machines and paper for
\nprocurement. That\u2019s a huge weakness, especially when the world\u2019s workforce is suddenly forced to\u00a0work remotely.<\/p>\n

Companies should take a hard look at company supplier management, seeing where solid data and digital tools could improve resiliency. After all, modern supply chain management practices give companies an edge when the world goes belly up.<\/p>\n

Here are a few advantages of a digital supply chain:<\/p>\n

Increase agility:<\/strong>\u00a0Some companies are notoriously slow to get from source to pay.<\/p>\n

Digital processes, backed by sound data, make it easier to act with speed and confidence. That speed drastically improves a company\u2019s ability to find great suppliers, and equally to be a great supplier.<\/p>\n

Speed matters in a competitive marketplace.<\/p>\n

Automate tasks<\/strong>: New technology makes it easy to automate the more tedious parts of procurement that slow staff down \u2013 like processing paperwork and monitoring processes.<\/p>\n

Automation with artificial intelligence (AI) is killing that monotony. It uses previous purchases and user preference to make informed decisions automatically. Some supply chain professionals tell me they hate the idea of automation. They fear robots will take over their jobs.<\/p>\n

It\u2019s true automation technology is shifting some job responsibilities. But it isn\u2019t about taking control; it\u2019s about giving staff more control. Automating repetitive tasks gives supply chain leaders the freedom to focus on strategy. Companies need that robust strategy more than ever as they prepare for the post-pandemic\u00a0world.<\/p>\n

Mitigate risk:\u00a0<\/strong>Companies need a diverse group of suppliers and backup suppliers. Research from the Institute for Supply Management found almost half of US supply chain managers don\u2019t have a plan in place to address supply chain disruption from China.<\/p>\n

That\u2019s just asking for trouble. No one needs the stress of scouting, selecting, and on-boarding new suppliers when global pressure mounts. The right data helps you build diversity into your supply chain, spot limitations, and discover potential disruptions earlier. That cuts your reaction time, ultimately making you far more resilient.<\/p>\n

Control spending:\u00a0<\/strong>More than ever, companies need to keep spending under control. And one of the best ways is to make procurement easy for internal staff.<\/p>\n

Save money:<\/strong> One of the most compelling reasons to modernise and digitised processes is cost savings. After all, chief procurement officers say cutting company costs is their biggest pressure, according to Ardent Partners research. That\u2019s why it\u2019s a wise investment to digitise supply processes wherever you can. A company with $100 million in annual revenue could see up to $4 million in savings by making spend management more efficient.<\/p>\n

Budget?<\/strong><\/p>\n

Most procurement teams would love to swap the fax machine for modern processes and equipment. What\u2019s stopping them? Company budget restraints, most research shows.<\/p>\n

But with today’s subscription based SaaS solutions its easy to start with limited budgets, so the\u00a0widespread disruption might be the push companies need to prioritise modern supply chain management.<\/p>\n

Next steps<\/strong><\/p>\n

It\u2019s too late to plan for this crisis, so it\u2019s time to prepare for the next one. Here are 5 questions to ask:<\/p>\n

    \n
  1. \u00a0Should we change the way we assess suppliers?<\/li>\n
  2. \u00a0How diverse is our supplier base?<\/li>\n
  3. \u00a0Do we need to change supplier contracts going forward?<\/li>\n
  4. \u00a0Should our continuity plans change?<\/li>\n
  5. What technology do we need to manage\u00a0future\u00a0disruptions?<\/li>\n<\/ol>\n

    No one can predict the next global crisis. Yet those with modern supply chain management processes will be more resilient the next time around.<\/p>\n","protected":false},"excerpt":{"rendered":"

    92% of companies saw supply chain disruption in the wake of Corona. Some issues were inevitable; some not. However the damage would be a lot less if company supply chain management was better equipped for the 21 st century. It\u2019s shocking almost 30% of organisations still rely on email, excel sheet, fax machines and paper […]<\/p>\n","protected":false},"author":7,"featured_media":11000,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[91],"tags":[],"class_list":["post-11485","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trends"],"jetpack_featured_media_url":"https:\/\/tradecloud.hdnk.nl\/wp-content\/uploads\/2020\/03\/901-scaled-e1583972902993.jpg","_links":{"self":[{"href":"https:\/\/tradecloud.hdnk.nl\/en\/wp-json\/wp\/v2\/posts\/11485","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradecloud.hdnk.nl\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradecloud.hdnk.nl\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradecloud.hdnk.nl\/en\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/tradecloud.hdnk.nl\/en\/wp-json\/wp\/v2\/comments?post=11485"}],"version-history":[{"count":3,"href":"https:\/\/tradecloud.hdnk.nl\/en\/wp-json\/wp\/v2\/posts\/11485\/revisions"}],"predecessor-version":[{"id":11494,"href":"https:\/\/tradecloud.hdnk.nl\/en\/wp-json\/wp\/v2\/posts\/11485\/revisions\/11494"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradecloud.hdnk.nl\/en\/wp-json\/wp\/v2\/media\/11000"}],"wp:attachment":[{"href":"https:\/\/tradecloud.hdnk.nl\/en\/wp-json\/wp\/v2\/media?parent=11485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradecloud.hdnk.nl\/en\/wp-json\/wp\/v2\/categories?post=11485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradecloud.hdnk.nl\/en\/wp-json\/wp\/v2\/tags?post=11485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}