Why Is Digital Supply Chain So Important?

Digitalisation continues to grow across all business sectors, adapting to meet the needs of ever-changing markets and consumer habits.

Gartner research suggests that 87% of senior business leaders say digitalisation is a priority but only 21% of companies think they have already “completed” their digital transformation.

Inevitably, some businesses and organisations have failed to evolve. Either because (1) they don’t know to (2) aren’t interested; (3) or don’t understand the benefits of a digital supply chain.

If you fall into the first or last of these categories, you need to read this guide. Are you ready to learn why a digital supply chain is so important to every business?

Then let’s take a closer look together.

Effortless, accurate & analytical ordering

A small business might thrive by doing things the old-fashioned way; ordering products from suppliers by calling them, tracking and receipting said items into store, then paying for them. This could work for a boutique retailer due to the low number of transactions and limited number of suppliers involved. But this model would become unwieldy if implemented by a large manufacturer operating hundreds of outlets globally.

That’s where digital supply chain and it’s related technology comes in. The interconnected technology streamlines the ordering process - analysing stock at checkout, then notifying the warehouse or sending an alert directly to the supplier’s ordering system. The result is a fully automated fulfilment service that replaces stock whenever it's used or sold - allowing businesses to keep pace with demand.

It’s no small wonder that so many businesses are working with supply chain logistics companies to improve their service delivery, significantly raising the bar for competitors in their field.

In short, consumers expect better and will take their money elsewhere if they can’t get what they want, when they want.

Can you afford not to digitise your supply chain?

Why does digitalisation of the supply chain sometimes fail?

Focusing on areas like ease of use, order accuracy, and fulfilment is important. But in isolation, such a strategy won’t entirely transform your supply chain.

Why won’t improving these areas make a difference? Processes are driven by people. This means your teams on the ground must understand how to implement the new technologies you’ve introduced.

Just as importantly, they will need to buy-in to this new way of doing things. Otherwise, collaboration will be difficult; and transformation will be slower. At Titan, the collaboration of People, Processes and Technology is at the forefront of all that we do so that we can apply simple solutions to complex supply chain issues to equip our customers with the processes they need for future growth.

So how exactly do you digitise a supply chain?

First, you need to search the market and compare the best supply chain companies working in your sector. But it’s also important to establish a vision. From that, an essential roadmap will evolve that you can use when talking to prospective supply chain partners.

Some questions to consider include:

1. 1. How can technology and operational processes be blended?
   2. Does your current talent pool support the proposed changes?
   3. What is your current position in relation to your overall aims?
   4. What’s the condition of your current supply chain?

These are hard questions to ask. But, by persevering, you’ll be able to create better customer experiences, improve performance, and increase future profits.