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Bringing powerful connections to your supply chain pays—and it’s not as complicated as you might think. Reach out to an Elemica consultant and see how you can start transforming your supply chain today.

Supply Chain Digitization by the Numbers

Have you crunched the numbers on digitization? We poured through studies to pull out some important insights to consider as you journey forward into digital supply chain connectivity. So without further ado, here are ten powerful stats to help inform your digital transformation:

1. Businesses Who Consider Themselves Experts in Digitization See 7.7% Higher Revenues and 6.8% Lower Costs

With the right support and expertise, stepping up to the challenges of digital transformation can yield powerful results. Looking at businesses who consider themselves novices in digitization, we can still see benefits, but they’re less than half of those for experts—with a 3.6% revenue increase and 3.3% lower costs.

2. 55% of Digital Supply Chain Experts Consider Supply Chain Transparency a Priority

Transparency touches every aspect of your supply chain, and so is crucial to success in digitization. Building a collaborative supply chain has proven to give businesses a competitive edge by opening communication, building relationships with trading partners and optimizing logistics planning.

3. 42% of Organizations Say That the Global Pandemic Has Sped Up Their Efforts To Build Digital Transformation Roadmaps

COVID-19 impacted business in major ways, exposing weaknesses in supply chains, sparking shortages, surpluses and resource retention issues all over the place. It also made a clear case for streamlined and digitized processes, and that’s why more supply chain managers have started working towards digitization.

4. 84% of Digital Supply Chain Experts Reported >90% OTIF Performance

Digitization has proven to reduce logistics risks and improve overall customer experience. But with single-digit percentages of late or incomplete delivery performance, this two-part stat speaks volumes for the potential of digital mastery—especially when compared to just 12% of novices reporting similar performance.

5. 50% of Firms Who Are Benefiting From Digitization Say Their Transformation Is Being Led by Their CEO

Strong leadership seems to play a major factor in successful transformation. This stat clearly illustrates that by prioritizing digitization, CEOs stand to achieve better results from the automated and streamlined processes of a digital supply chain.

6. 41% of Companies Name Skills and Training Deficits As the Biggest Obstacle to Planning Digital Transformation

If we can clearly see the benefits of an investment in digital transformation, we need to understand the totality of its cost. Proper training and upskilling are critical to a successful digitization strategy, and it’s important to understand these commitments from the outset.

7. 5 Years Ago, 48% of Businesses Admitted That “Traditional” Methods of Communication (Phone, Fax, and Email) Remain the Dominant Ways They Interact With Supply Chain Partners

Times are changing fast. And closed, opaque forms of communication are rapidly being replaced with more transparent, collaborative and accessible communication. Chances are if your business relied on phone, fax and email just 5 years ago, you're seeing a majority of your trading partners shift to more streamlined, data-rich methods of sharing information.

8. >80% of Digital Experts Describe Their Supply Chain Focus As “External Integration” or “End-to-End Orchestration,” While Only 36% of Companies Are Saying the Same

The experts are going big with connectivity and it’s paying off. This puts into perspective the prior stats about the importance of transparency, proper skills and support across the supply chain—they are critical to maximizing your digital transformation efforts.

9. An Expected 68% of Companies Use Most Data From Their Extended Supply Chain To Inform Decision Making

This is compared to a study conducted five years ago that saw just 23% of companies doing the same. Make no mistake, the value of a digitized supply chain extends beyond streamlined logistics and time-saving automation. The data that can be captured and utilized from the extended supply chain is making a big impact today.

10. It Takes an Average of 1.8 Years To See Payback for Investments Into Advanced Supply Chain Capabilities

Organizations that go big on digitization by investing in the right skills, prioritizing wisely and supporting a comprehensive transformation can see returns much more quickly. If you’re looking for immediate next steps, see Elemica’s Digital Transformation overview, where you can get help developing the ideal roadmap for the digitization of your supply chain for fast-track ROI.

*This article cites a number of studies from the Council of Supply Chain Management Professionals (CSCPM), ToolsGroup, PWC, Capgemini Consulting and GT Nexus.