Global supply chain trends in the coming year should remain on course to help companies expand collaboration and improve their operations and supply chain management. According to a study by Capgemini Consulting, 55 percent of companies said they recognize that supply chain management is a source of competitive advantage.
"As our global customers examined their financial performance last year, many experienced the positive value that a fully integrated and globally coordinated supply chain has on their business," Lynn Torrel, senior vice president of global supply chain and strategic accounts at Avnet, told Supply and Demand Chain Executive.
Successful companies will work to integrate themselves with suppliers and customers, as a systematic approach to supply chain management will be a critical element in improving the effectiveness of their business. While there are many aspects of collaboration, increased investment in technology will be essential to connecting a global network of manufacturers, suppliers and customers.
Collecting and Analyzing Big Data From the Supply Chain
According to Supply and Demand Chain Executive, the use of big data will continue to spread from office processes such as sales, customer service and manufacturing into the supply side of the business. Companies will continue to mine more data that can be used to improve inventory control, procurement and risk management.
To do this, organizations will need to implement more automated and mobile data collection points in their supply chain. New devices and software make this initiative less complex than ever before. Data collection software can now log data in real time in systems that are fully integrated with existing ERP software. Along with information already being collected for office processes, company leaders will have access to information that explains in greater detail how the supply chain itself is operating.