If there’s anything we’ve learnt over the last year or so, it’s that you really can’t predict the unpredictable. Take COVID-19, for example. It’s majorly disrupted supply chains. And it won’t be the last incident to do so. Natural disasters, political changes, financial crashes - these are all examples of uncontrollable events that can impact your supply chain.
The solution? To digitise your operations and supply chain management process so your business is better prepared to handle crises, even if you can’t precisely predict them. And here are three ways to do just that:
Shortages in the labour market and rising wages were already affecting manufacturers. 2020 brought on social distancing restrictions which are still in place at the time of writing and unlikely to be lifted any time soon. In fact, some health experts are even predicting these restrictions to continue until 2022.
This is why the case for investment in automated technology is becoming increasingly attractive.
Here are some benefits of replacing your manual processes with automation:
Once your business matures, the possibilities for automation deepen. For example, you can use machine learning and machine vision to enhance your predictive data capabilities even further.
Natural disasters, health emergencies and other geo-political problems can easily disrupt your sourcing operations and labour plans in a matter of hours. You might not be able to predict the unpredictable but you can use technology to increase your visibility of your operations and market. This can increase your chances of assuming ‘business as usual’.
Let’s say there’s a national flood. This would lead to towns and villages being cut off from the road network and impact your supply chain. You can mitigate the impact by consulting data feeds that are available online. Analyse this data alongside your customer and vendor data, and you end up with a few days’ early warning.
Perfect for making a mitigation plan!
An ERP (Enterprise Resource Planning) system sits at the heart of your technological transformation. This is because of its ability to integrate with multiple systems and consolidate data from different sources to create a single view of your business.
Here are some main benefits of an ERP system like Microsoft Dynamics 365 Finance & Operations:
Learn more about the benefits of Dynamics 365 Finance & Operations for your supply chain here. We also have a factsheet that covers the features and functionalities of D365 Supply Chain Management which you can read below.
The modern-day supply chain typically extends across multiple countries and time zones. But the wider the network, the more fragile it is. You know that. So, how can you transform your supply chain so it’s agile and resilient enough to thrive in the face of uncertainty?
The solutions we mentioned in this blog are a good start. Your next steps? We’ve covered them in our checklist which you can download below.