The digital transformation in supply chain management will help mitigate risks, drive your organization’s growth, and optimize costs. The supply chain is a vital part of any business. Its disruption can lead to supply shocks that may end up losing customers. The digital supply chain transformation and the use of advanced technologies like AI in the supply chain will help you to integrate the data across systems, organizations, and locations. Your organization’s correct digital transformation strategy will help you get real-time visibility, break barriers, and enhance customer service. With the use of tech trends in supply chain digital transformation, the regionalizing and nearshoring of the industry is possible without any extra effort.
Walmart has exhibited the supply chain digital transformation amicably by working on the supply chain crisis. When COVID-19 hit, it greatly disrupted how organizations delivered to the customers. However, Walmart used digital transformation solutions to minimize the repeated tasks and deliver the orders of the customers with lightning speed, following all the protocols set for the pandemic.
The company uses advanced digital technologies like SaaS-based solutions to automate its market workflow. It will help the drivers to deliver the right items to the right people at the right time. It helped develop a better omni-channel supply chain for the company. Apart from this, Walmart also used the end-to-end digital platform by culminating blockchain technology in their supply chain work. It helped to trace the shrimp source from Andhra Pradesh, India, to Sam’s Club, USA. It helped track shrimp export for the company.
GoLocal is another initiative of Walmart under digital supply chain management that helps the platform know when the customer places the order. Branding is done through white-label services, and delivery is done via the delivery partners. You can get any supplies from paint to food the next day or same-day delivered to your doorstep. Artificial Intelligence in the supply chain has also revolutionized everything as a prediction of customer demand, managing of stock, optimizing of the supply chain, etc., has become easy and impactful.
Source: Walmart- Global Tech
Analysis of Digital Transformation in Supply Chain Management
93% of the organizations have reacted to the response of using digital transformation in logistics and supply chains. The companies will be taking steps to make the supply chain management resilient and reorganizing their supply chain to make it available to the customers onshore and offshore. Implementing automated storage systems will help accelerate the responses and improve transparency to access real-time data.
Digital transformation processes will lead to a 50% reduction in the process cost and a 20% increase in revenue. Moreover, the digital supply chain roadmap is a plan of investment to support digital growth. The strong collaboration across the supply chain will help build the digital roadmap for the organizations.
The benefits of supply chain digital transformation help to integrate technology and other aspects of digitization to render maximized growth. A survey stated that 14% of the organizations allocate their budget to technology usage in warehousing and logistics. 30% of the budget is provided for digital transformation in the supply chain companies. 91% of the companies are digitizing their data, 26% use AI, and only 31% use Predictive Analysis.
The adoption of Artificial Intelligence (AI) in the supply chain has changed the scenario of the digitization process in companies. 22% of the company executives plan to invest $5 million in AI and Machine Learning to strengthen the supply chain operations. 53% of this investment will help drive growth, and 51% will help with outpacing several other goals.
Source: pwc.com
Why does Digital Transformation in the Supply Chain Matter for Organizations?
Companies need to take digital transformation consulting solutions to bring transparency and acceleration in their supply chain work. This will support in facilitating collaboration and trust across the organization. Moreover, you can use real-time data by using AI, Cloud Computing, Machine Learning, etc., to redefine your relationships. Let us now walk you through the pointers to help you know why digital transformation is necessary.
- Taking Informed Decisions: You can make better decisions using technologies like AI, predictive analysis, machine learning, etc. The companies can perform the tasks efficiently and avoid any form of distorted communication.
- Avoiding Wastage: Using AI-powered analytical tools and other modern technologies will help you avoid any wastage in the warehouse. You can place the inventory according to the market demand and mitigate the extra cost.
- Increases Flexible Operations: Digital transformation consulting helps you to centralize the needs of the organization’s supply chain by channeling it with consumer needs. The digital model will increase productivity and render higher value to the company.
- Customer Satisfaction and Engagement: Using digital transformation services in an organization improves customer engagement. It helps customers stay informed about their orders and the delivery pattern. The automated tracking on the company’s app will also provide better security to the product delivery pattern.
Get Connected With The Right Digital Transformation Company!
Digital transformation in the supply chain will help organizations to modernize and improve the traditional product delivery approach. Inventory management will become easy and hassle-free. Moreover, you can enhance customer satisfaction by providing them with better inventory control. You must take the services from a reputed software product engineering company, Tntra. They have a team of dedicated digital transformation specialists to help you advance through this new economy.
Call Tntra specialists today to discuss your requirements and get the best software product engineering services!
