Data: The Key to Controlling Your Supply Chains
I believe it’s safe to say, every business has been affected by COVID-19.
With COVID-19, organizations within the manufacturing industry are tasked to solve or deal with the most challenging supply chain problems of our time. Manufacturers are facing the standard supply issues but on a much larger scale. They have suppliers who are not able to meet their demand because plants are shut down. In other instances, suppliers are not meeting demand because they can’t get their materials. An even bigger problem is demand volatility, the fact that companies are seeing massive shifts in demand that they’re not used to. This pandemic is magnifying supply chain weaknesses and, for many companies, exposing the need to modernize.
Likely, most companies are wishing they could react more quickly to the volatility in this new business market.
Supply chain visibility is a critical factor now more than ever to getting total control over your global supply chain and to solve the problems of today. For complete visibility, data must be collected across the supply chain ecosystem; suppliers, customers, logistics service providers, GPS signals, IoT devices, and others. Those who have the data, benefit from countless ways they can leverage the data in their system to predict, react, and adapt to any unexpected event—even after coronavirus.
A digital foundation provides a more flexible, much more responsive supply chain.
Data is the success factor and digitalization is a way to capture data in real-time. By connecting to a Digital Supply Network you can capture event and transaction data across the entire supply chain, creating a critical mass of real-time business information that allows partners to collectively sense and react properly to supply and demand changes and risks in the market. Participants in a network gain a comprehensive picture of business performance both inside and outside their four walls, which allows them to generate strategic and actionable insights from their supply chain network.
Ways to get your data.
The power of the network comes from the data. And the more companies on a network, the larger the data set, and therefore the better the visibility and control you have. The reality is many supply chain partners are still using manual processes. Elemica QuickLink Email solutions are a way for your supplier and logistics service provider base to connect to a digital supply network in a low impact method so that everyone shares the necessary data to support customers without an IT investment. Event management and notifications from the network quickly can help all partners react quickly to these dynamic fluctuations in supply and demand in this time of volatility.
Suppliers are given options that suit their capabilities and that offers them a level playing field with larger suppliers that have bigger IT budgets.
Suppliers and Logistics Providers now have an efficient, quick, and easy way to join the Elemica Digital Supply Network based on their level of business with other Elemica clients and the volume provided. Elemica QuickLink Email solutions provide easy onboarding, enabling these trading partners to move to more advanced connection modes especially during these new “normal” times.