Analyze the maturity of your supply chain
Not all companies are at the same level of maturity. Before taking the first step in a company’s digital transformation journey, it is important to assess the organization’s current analytical capabilities.
A report published by Gartner on the Top 25 supply chain companies in 2020 reveals that only a minority are actually at stage 5.
The key challenge is rather to prepare for what will become the norm in the years to come.
If the concept seems innovative today, tomorrow, it will be commonplace. IT investments are costly, both in terms of time and resources, and current supply chain projects need to be already taking these emerging trends into account.
Scalable and robust solutions already exist and are capable of supporting companies as they look to grow and optimize their supply chain performance.
Build a synchronized supply chain
Experts agree that the market is definitely moving towards a new standard: an extended, networked supply chain for the creation of shared value.
The transition towards a fully synchronized network doesn’t happen overnight, but it is possible to start with the step-by-step integration of internal partners. For example, if you have several sites managing different production stages of the same product, then you have a network ready to synchronize. Joining together a company’s own internal network is an excellent way to take a simple first step towards networking an extended supply chain before embarking on a larger-scale project with external partners.
The missing link in the supply chain
So, how do you take the plunge? Data sharing remains a showstopper as certain types of data, such as production plans, order books, or forecasts, are too sensitive to be shared with business partners.
The difficulty of being transparent with data when collaborating with business partners is still a big problem, despite the recognized benefits.
With a trusted third party between customer and supplier, it is possible to synchronize the supply chain without the disadvantages of directly sharing sensitive data, as is the case in traditional visibility or collaboration solutions, such as CPFR or the Control Tower principle.
This is the service we provide at Flowlity!