Supply Chains: How to Sustain Supply Chain SuccessBy: Pasquale Gatti | January 19th, 2022
The last two years have brought about some dramatic shifts in the supply chain landscape.
As a result, it’s been critical for teams to remain agile to keep things running as smoothly as possible. Unfortunately, this year will bring much of the same with conditions continuing to remain unstable.
Real-time visibility is at the core of supply chain success (92% of supply chain executives agree) and it’s going to be no different this year. But it’s not your only concern. Here are some key trends to keep in mind for 2022:
Maintaining a Resilient Supply Chain
According to Gartner, 60% of supply chain leaders say their supply chains have been designed for cost efficiency, not resiliency–but 87% plan to invest in resilience within the next two years. So while it’s clear most organizations realize the importance, the majority don’t have the pieces in place–at least not right now to create resilience.
There are many ways to increase supply chain resiliency and it should be a top priority in 2022. Building resilience begins with empowering your teams with the ability to quickly adjust and pivot when disruption strikes. It also means providing them with access to real-time, reliable data and the tools they need to effectively communicate with partners. Having well-thought out contingency plans for when and if supply chain disruption strikes is also critical in your quest to achieving resiliency.
Leveraging Technology to Remain Agile
Having modern supply chain technology in place is no longer a luxury, it’s a necessity that’s important for two main reasons. First, digitizing enables you to become more proactive rather than reactive when it comes to catching potential issues before they become major headaches. It’s hard to stay ahead of the game if you’re spending hours looking up information or utilizing manual forms for transactions. Leveraging technology will also help you foster a more efficient supply chain overall.
Secondly, it will allow you to break down barriers across your supply chain so you can consolidate information that’s scattered throughout multiple systems (a common problem), making it accessible for all users in all departments without having to bother your IT team. This will allow you to make faster, more well-informed decisions when it comes to your business, maintain high customer service, and enable your IT department to not get bogged down with requests.
Supplier Transparency & Collaboration As a Success Driver
Your success depends on your suppliers’ performance. But why is it so hard to hold them accountable? You should first examine how (if at all) you’re communicating with them. Without an easy way to share real-time, supply chain data with one another, your day-to-day interactions probably have some major blind spots. Due to the fact that there are no set industry standards, you need to develop a relationship with your suppliers to communicate your goals and needs–and provide them the platform to do the same. In the end, it’s all about communication.
To get in sync with your suppliers, consider implementing a vendor compliance program with them. When they have a clear focus and a well-thought out plan, they have the potential to dramatically improve collaboration, optimize your supply chain, and maximize profits. If you take the time to build trust and transparency, the results will be mutually beneficial in the long run.
Other Factors to Consider
As we jump headfirst into 2022, there are several other trends impacting supply chains that you should have your eye on. One is a major focus around driver retention as turnover has continued to dramatically increase every year since the beginning of 2020. Localizing the supply chain is another issue that’s been brought to the forefront. Due to the pandemic, many companies are looking to produce and ship locally to minimize disruption.
Forecasting for inventory and delivery is also on the table this year as is returns for supply chain management (SCM). Using historical data to predict demand will be crucial with disruptions set to continue and the rise of e-commerce has made returns a hot topic for SCM teams. You should also consider the focus on reducing the carbon footprint. With the levels of CO2 rising, more and more companies are focusing on sustainability in 2022.
How To Effectively Manage Supply Chain Shifts
Your number one weapon in a constantly changing world is visibility. When it comes to achieving resiliency, staying agile, and improving supplier collaboration, Syncrofy can provide that visibility to help get you there.
Syncrofy stands out from other solutions in the marketplace because it provides you with full visibility and valuable insights on your supply chain right out of the box. There’s nothing to configure, no mapping, or specialized data warehouse required. From the get go, you can see what’s going on across your network, what’s working, and where potential problems may occur. This allows you to be proactive, respond to disruption, and stay on the same page with suppliers.
It’s also designed for everyone in your organization. Syncrofy was created specifically with the non-technical user in mind so there’s no need for data scientists or database administrators. You’re able to see your supply chain as it’s happening in a human-readable, easy to understand format. You’ll also get pre-configured tools to make fast, well-informed decisions on your supply chain that you can’t get with any other platform.
Learn more about Syncrofy…
To learn how Syncrofy can help you take back control over your supply chain, click here to request a demo today.
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