Connected Supply Chain: Make Smarter Decisions with Smarter Data
Delivery speed, choice, adaptability and purchasing convenience are rapidly increasing supply chain complexity. In addition to tight resources and competitive pressures, the idea of the connected supply chain seems particularly challenging for small-to-medium-sized businesses that are too afraid to ditch their outdated business software.
One of the biggest mistakes we see businesses make is a reluctance to ditch outdated systems because of a fear of the unknown. I understand the hesitance to move past a system that has “worked” for many years. However, one thing remains true: When legacy systems don’t integrate with important modern business tech, they create costly organizational data silos. These data silos often create time-intensive manual processes with untold consequences throughout your business.
And that’s too bad because businesses that take advantage of a smart connected supply chain benefit from a multitude of valuable insights. These organizations have access to critical business KPIs in real-time like manufacturing lead times, the cost of various raw materials and subassemblies, product availability data for suppliers, shipping and logistics estimates, and demand forecasts from end customers.
These key performance indicators, when properly aggregated, give organizations the ability to proactively shape demand based on pricing and promotions. Deliver precise inventory levels across warehouses and stores for original equipment manufacturers (OEMs) and retailers.
The real question is: What is your current business system partner’s roadmap for providing you with the digital innovation your business should demand. Are they enabling your business to gain visibility, extract value and expand market reach?
What’s in the Future for the Connected Supply Chain?
What I do know is that I am excited about Acumatica’s commitment to embracing next-generation integration technology that easily adapts to emerging digital requirements and scales with our customer’s business. Check out the below video, it is a perfect example of how Acumatica is fully engaging people with the operational strategy focused around modern technologies, enabling users to enjoy the benefits of a connected supply chain.