Latest in Digital Supply Chain Management
Companies are boosting performance with digital transformation of their supply chain. Check out these industry articles, presentations and more addressing digital transformation of the supply chain.
Activ Technologies and JM Industrial Supply showcase real-world results in digital transformation and multi-tier supplier collaboration to support JM Industrial Supply’s OEM customers. Using the ActiVate® platform, JMIS supports its primary customer, Caterpillar, and grows its collaboration capabilities.
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DIGITIZATION, SUPPLY CHAIN, TRANSPORTATION AND LOGISTICS | 03 JUNE 2020
Resilient Supply Chains and the Technology Behind Them
“The COVID-19 pandemic has created chaos in supply chains, exposing the value in having agile, resilient supply chain management. Supply chains are currently operating below capacity and drops in revenue have hindered investments in innovation in many cases. However, this crisis has spurred interest in digitalized solutions and this will likely be a significant area of investment in the coming years.”
A recent McKinsey study found that the average supply chain has a digitization level of 43%, the lowest of five business areas that were examined.
The same McKinsey research suggests that, on average, companies that aggressively digitize their supply chains can expect to boost annual growth of earnings before interest and taxes by 3.2%—the largest increase from digitizing any business area—and annual revenue growth by 2.3%.
Effective supply chain management in manufacturing is essential for collaboration and coordination, as well as efficient business practices.
In today’s increasingly complex and digitally driven supply chain, where competitive advantage can quickly evaporate and on-time practically means yesterday, smart integration is essential to stay competitive. Industry Week shares some ways to use integration to boost productivity and effectiveness.