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Supply chain digitisation-One of the industry’s biggest buzzwords in recent years, every business around the globe seems to have undertaken some form of digitisation. But what can this process do for your supply chain?
Digitisation is often joined by digitalisation and digital transformation in both conversation and business practice. Whilst it can be easy to mistake one for the other when speaking, the functions of each have very distinct differences.
Digitalisation is a process that, when carried out correctly, can be massively transformative for a business – but it is only possible when an organisation has successfully digitised first. As the enabler, digitisation converts information and products, such as photos and records, into a digital format. Once converted, these resources can be used to upgrade and streamline processes, eliminating the need for basic things such as paper and face-to-face interaction – something which can be particularly helpful in the trying times that COVID-19 has presented.
How does it impact the supply chain?
As the adoption of Industry 4.0 continues to sweep through industries around the world, the supply chain sector included, it brings with it never-seen-before innovative technologies that can completely transform the operations of a supply chain network, company or procurement process.
Two of the biggest benefits that supply chains can take from digitising their processes are speed and cost. Taking your operations to the next technological level can significantly cut the time it takes to make strategic decisions, whilst also boosting operational efficiency. By improving pricing and operating costs, manufacturers also believe they will see increased sales from more digital processes.
End-to-end transparency is the ultimate goal for a number of supply chain operators, being the crucial component to achieving significant efficiency gains. In a system with end-to-end transparency, every member of every step along the supply chain network will have access to all data. Digitising processes can enable improved visibility and provide real-time insights into the supply chain, giving people along the chain full control.