In our previous blog, Transitioning to Supply Chain 4.0, we discussed the transition process and pinpointed potential concerns organizations may encounter on their supply chain 4.0 journey. In our third installment of the guide-to-blog series, we’ll delve deeper into identifying the right supply chain processes and technology that will make the most business sense for your organization. Come to find out, this is no easy feat, but we’re here to help and guide you through the journey.
Organizations wishing to transition to supply chain 4.0 need to first assess where it makes the most sense to innovate. This is often easier said than done as each company and industry have very specific challenges when it comes to technology adoption, maturity of processes, skill sets within its workforce, and willingness to transition to new approaches.
Identifying and understanding which business processes are mission-critical or ‘signature’ to an organization is the logical first step to address areas of the supply chain that will deliver quick wins and the greatest return on investment.
Supply chain leaders must identify where to innovate and invest in new processes and technologies to help their companies remain relevant in their markets (Gartner).
In most cases, the range of supply chain processes that can be formalized and/or optimized are broad and often heavily intertwined with each other, such that a change to one of them may have a ripple effect on downstream activities.
Choosing the Right Supply Chain Technology
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The process of identifying which technologies to incorporate into an organization’s toolset can be overwhelming and challenging due to the sheer number of options that exist in the marketplace across the different areas in the supply chain spectrum.
Executing a quick assessment and selection process is key to jumpstarting a technology implementation effort. It’s highly recommended to partner with a vendor experienced in a broad range of toolsets to help ensure the best option is put forth to leadership.
Oracle has a vast array of solutions that address many of the technology needs of organizations seeking to innovate and embrace supply chain 4.0 concepts. These can also be deployed in phases and right-sized to pair with a particular process maturity level.
It’s important to understand where the organization is and wants to be when it comes to emerging technologies like machine learning, IoT, blockchain, chatbots, social networking, etc. The deployment of these technologies often comes with prerequisite processes, metrics, and technology stacks that need to be in place. Obtaining an honest evaluation of what level of technology an organization is willing to adopt may surprise IT and supply chain leadership. It can prevent initiatives that go in a direction where benefit cannot be yet obtained.
To learn more, you can download our entire guide here or below. Otherwise, stay tuned for blog #4 in the coming week on how to embrace change in supply chain with minimal impact. A topic you won’t want to miss!