In Albert Einstein’s famous equation “E=mc2,” both energy and mass are replaceable with one another. But the constant measurement of time cannot be changed.What he essentially confirmed for generations beyond him is the inherent value of time. We cannot slow down time, nor can we control the passing of time. We can change how we react in the present, and use lessons learned to affect chain reactions as they happen in time.
This fundamental truth applies to many aspects of our lives, including how we run our business. It’s a question that logistics managers and technology teams will have to consider when they think about their transformation from a single-direction supply chain to a multi-direction supply web. Does your team have the time to build out a technology suite of value? Or does partnership allow us to save time to focus on what’s best, and drive long-lasting change?
It may come as no surprise that the time you save through partnership may be the most valuable investment of all.
Technology: The Core of Supply Web Change
For manufacturers and distributors, the question on transforming into the supply web comes down to technology. If your current systems don’t provide a deep look into how your supply chain operates, then you could be losing out on data that could provide insight and identify opportunities.
Your team isn’t the only ones struggling with these questions. A recent Gartner survey identified the overwhelming majority of supply chain executives said digital business software and advanced analytics/big data is key to their future business plan, making them a top priority for the remainder of 2020 and beyond.
While this is one of the top priorities for supply chain leaders in the future, the problem lies in building the solution. Creating a custom, in-house solution requires dedicated time and resources from your supply chain, shipping, and technology teams. Taking them away from their tasks means lost man-hours in fulfilling customer demands, which can result in an immediate loss your team cannot recuperate because the time to serve them is gone.
Meanwhile, customers expect their providers to have the technology to identify the most efficient and expedited processes to fulfill orders. If you don’t have that capability, they will go to the next source that does. Can you afford to lose orders because of a lack of supply chain transparency?
Finding Agility and Transparency Through Partnership
Agility in the supply chain is all about being able to react quickly to customer behaviors. Because e-commerce and direct ordering increases are part of our “new normal,” customers demand their packages get to their destinations faster and with full transparency.
There are two ways to achieve this audience demand. The first way is to work with partners who already have the supply chain technology you need to succeed leading to being a better partner to your component and supply chain partners through data sharing and expectation setting.
Your company is already good at providing your core products and services to your audience. Time and money should not be spent building systems that already exist – they should be spent serving your customers and helping them succeed. This is why you need an analytics and business intelligence partner who understands your business, and has both the technology and know-how across supply chains to develop the data and options you need to execute.
This is where a partner like Transportation Insight comes into play. With proven tools that give you the supply chain transparency you need to transition into a supply web, your team can get access to big data analytics and business intelligence tools sooner rather than later. This gives you end-to-end transparency which can help you identify new synergies within your web, including fewer internal touches before shipping, and the potential to drop-ship directly from suppliers.
With this information, your team can be a better partner to your domestic and foreign suppliers. With sales information, time-in-shipping data, and other key performance indicators, you can help predict when you will need to reorder supplies, track trends which can help drive production guidelines, and ultimately create a workflow that keeps your shelves stocked with the right items, and customers happy with the efficiencies of their orders.
Tying It All Together
As the supply chain transforms into the supply web, driving a durable information network will give you the agility and intelligence you need to meet your customer demands. By utilizing a partner to tie it all together, your team can get the insight and transparency you need to make the best decisions for business.
Now and into the future, Transportation Insight is here to help your business grow at the speed of commerce. Schedule a consultation today to learn how we have the tools and skills needed to save time and save money.