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Improving Supply Chains To Ensure Manufacturers' Long-Term Viability

Nov 14, 2023 - forbes.com
The article discusses the transformation of supply chains towards more intelligent, data-driven operations. It highlights the integration of technologies such as cloud-based predictive analytics, artificial intelligence, and collaborative analytics as key drivers of this shift, enabling businesses to monitor their supply chains with unprecedented accuracy. The article also emphasizes the importance of integrating existing enterprise resource planning systems and creating large data lakes for big data analytics, which have significantly lowered the barriers to implementing data-driven solutions.

The article further outlines the core competencies of an intelligent supply chain, including access to accurate manufacturing and supply chain data, cross-functional visibility, trend detection, and proactive decision-making. It provides actionable steps for businesses looking to transition to a more intelligent supply chain, such as being cognizant of key aspects, avoiding common pitfalls, and fostering cultural and strategic changes. The article concludes by stating that the ability to adapt, innovate, and optimize through intelligent supply chains will be key to survival and prosperity for manufacturers in the future.

Key takeaways:

  • An intelligent supply chain is defined by core competencies such as access to accurate manufacturing and supply chain data, cross-functional visibility, trend detection and synthesized insights, and proactive decision-making and action-based prioritization.
  • Implementing an intelligent supply chain requires being cognizant of key aspects, avoiding common pitfalls such as data silos and over-automation, and fostering cultural and strategic changes.
  • Building a data-driven culture and adopting agile methodologies in supply chain management are crucial for the successful implementation of an intelligent supply chain.
  • The ability to adapt, innovate and optimize through intelligent supply chains will be key to survival and prosperity for manufacturers in the future.
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