As we celebrate #NationalSupplyChainDay, we gathered some of our top thoughtware on supply chain to share with you.
"When thinking about the supply chain, digitization and sustainability are two main things people need to prioritize. Digitization is needed because it is vital for an organization to have as much visibility as possible down throughout its supply chain. That kind of visibility is only possible through having everything, or as much as possible, digital. Sustainability is important because two-thirds of customers are making product decisions based on ethical guidelines, such as sustainability and social responsibility." - Steve Riordan, our global director of supply chain and consulting capabilities, on The Digital Supply Chain Podcast
"How we can transform our supply chain function and operation to provide sound predictions of future events that help guide our planning and decisions?"
In other words, how can we build a real-time artificial intelligence (AI) and machine learning (ML)-based capability that correlates and processes both internal and external signals relevant to the supply chain business and provides holistic, stochastic-based predictions?
Once a consumer demand is identified, companies now have 6-10 weeks to respond to that demand – not 12-18 months. These timeframes demand a responsive and agile supply chain. To achieve this kind of agility, leading companies are rethinking supply chain strategy with the right mix of near shore and traditional supply chain models; near shore for fast response products and traditional for the more predictable products.
The COVID-19 pandemic has forced retailers and brands to fundamentally rethink business models, including how they discover, create, make and sell new products. Retailers and brands should focus on four goals as they rethink their models for product development:
The retail industry is in a period of rapid evolution, and many companies are looking to succeed by developing differentiated products and investing in differentiated product development capabilities. From an IT perspective, the technologies that support product development – along with the strategies and frameworks for deploying them – are also changing rapidly.
What we’re seeing right now is not an overall decline in the industry – it’s a decline in sales of certain (often more established and traditional) retailers, as evidenced by the most recent announcements of downsizing from several prominent players.
In this article, we will highlight some of the emerging value cases for artificial intelligence (AI) across phases of the pharmaceutical value chain, which includes processes in four primary functions across the pharmaceuticals lifecycle—Discover, Create, Make and Sell.
Crisis Management and the Coronavirus: Supply Chain, Technology and Infrastructure
“What we’ve been seeing as a catalyst for a lot of this transformation or change is that their product leaders have been employing four sets of technologies to try the movement away from a traditional model,” Riordan said. As noted by Riordan, these transformation technologies include advanced analytics, digital product creation, foundational product technology and smart connected supply chain.
How IT Can Modernize and Streamline Enterprise Supply Chains
When planning an enterprise supply chain modernization initiative, it's important to closely examine the entire supply chain to ensure that performance will be optimized across all stages, including product design, planning, purchasing, manufacturing, logistics, and fulfillment or service, recommends Jeffrey Miller, director of the industrial high-tech practice at management consulting firm Kalypso.
At Kalypso, Steve leads a team focused on serving senior product development and supply chain executives to help them digitally transform their capabilities in strategy, product development, planning, sourcing, manufacturing and distribution & logistics to shorten time to market, to drive revenue growth from new products, to streamline operations and to improve rates of compliance.
Katherine is the strategic content and social media manager at Kalypso. She is based in Manhattan where she lives with her husband. She's always looking for a new recipe to try in the kitchen and recently completed her first marathon in NYC. If you're a Harry Potter or Disney fan, she's the person to talk to!