How can companies build resilient Supply Chains?
Conventional operations and disconnected processes are no longer sufficient to adapt to global supply chain disruptions and will keep companies from harvesting the benefits that emerging technologies will bring in the near future. Supply Chain leaders need to stay ahead of these challenges and opportunities by creating and embracing digital strategies that will not only focus on cost efficiencies but also support faster and more informed decision-making.
Compelling supply disruptions force procurement teams to spend extra time on price/contract management and researching and onboarding new suppliers, while expediting materials also becomes more time-consuming. These workload issues, if left unresolved, result in production impact and excessive inventory.
Lack of visibility exacerbates issues since most companies are often unable to identify the root cause or even implement necessary corrective measures on impactful exceptions. To tackle this, Supply Chain leaders must prioritize achieving comprehensive end-to-end visibility that goes beyond engaging with tier 1 suppliers.
Lack of real-time data
Supply Chain leaders face significant challenges in achieving real-time updates due to the lack of modern and collaborative communication with their trading partners. Direct integration with suppliers is often too limited and legacy supplier portals are not built with real-time collaboration and performance visibility in mind.
Top priorities ranked by Supply Chain peers
If disruptions happen in real-time, then why is your supply chain still behind?
Recent studies show that only 31% of companies within multiple industries, including building materials, automotive, machinery & equipment, chemicals, and FMCG & retail, consistently utilize real-time data in their supply chain operations. Considering the persistent disruption and volatility, it is imperative for this statistic to improve.
In order to achieve efficiency, reduce costs, fulfill customer experience, and meet sustainability objectives, companies must be ready to embrace digital solutions to meet the supply chain goals for the next generations. We have spoken to supply chain peers among our customer base and highlighted four essential priorities that should be at the top of every Supply Chain Leader's digital transformation agenda.
High-performing Supply Chain leaders at a glance
“Digital supplier collaboration is one of several important initiatives that Global Supply Chain is taking to ensure even more reliable and sustainable supply of goods in the future, strengthening the competitiveness and flexibility of Vanderlande Industries as a leading player in the market."
Mart Corbijn van Willenswaard
Executive Vice President Supply
Most valued apps by Supply Chain Professionals
Introducing Supply Chain Apps capable of fulfilling all business priorities with seamless integration.
With our commitment to incorporating composability into your digital SC strategy, we offer API-driven process integration between apps and external systems, providing the flexibility to focus on your specific supply chain priorities. Our capabilities cover your entire supply chain process, end-to-end, including e.g. forecasts, procurement, inventory, logistics, services, quality, and invoicing. All are accessible through a modern and global collaboration network.
By covering the complexity behind the screens of our applications and through our advanced data model layer, your teams can effortlessly navigate through a user-friendly interface to manage their roles in the supply chain. This results in enhanced access to real-time data, smarter performance indicators, improved AI capabilities, and a highly resilient supply chain ecosystem.
The Forecast Collaboration App allows collaboration between buyers and suppliers on developments in time-phased demand. With this app, both parties have access to the same demand & supply data, can set up a contract-based procurement process, and will be guided by the workflow to efficiently move through changes in the supply plan and the associated capacity from the supplier.
The Supply Chain Management Dashboard is designed to better track and control collaboration with various suppliers and turn supply chain data into actionable insights. The app offers different screens and parameters that make it possible to get a single version of the truth about the performance of individual and/or all suppliers and other partners, creating a unique passage to your KPI metrics.
The Logistics Collaboration App simplifies communication and collaboration around the transportation process, enabling a continuous and orderly flow of real-time data between buyers, suppliers, carriers, and/or forwarders. The end-to-end integration of carrier information related to transport orders and freight costs allows automated invoice flipping across multiple connected ecosystems.
With the Shipment Collaboration App, suppliers can easily build shipments from open Order Lines or Schedules and announce these to buyers as well as to a logistic service provider. These Advance Shipment Notifications (ASNs) are your most effective control of actual supply performance. Advanced features are also available, such as "pack-and-stack", and data enrichment with serial numbers and certificates.
The Inventory Collaboration app is designed to improve visibility and automate replenishment (VMI/SMI) to increase availability in order to reduce safety stock throughout the supply chain. With this app, the procurement and repositioning of inventory are improved. Additionally, Inventory Collaboration is enabling omnichannel processing, faster actionability, and more optimal relocation decisions.
Could not find a suitable solution for your priority here?
The Quyntess app suite consists of 13 comprehensive apps which allow you to improve collaboration across the supply chain. Learn more about each app and find a suitable solution to match your business requirements around order collaboration, co-manufacturing, product data management, maintenance & quality, or virtual payment cards.
Digital Transformation Workshop
Quyntess offers you a complementary Digital Transformation Workshop, designed to make you aware of and prioritize your supply chain needs. This allows you to identify potential areas for improvement and develop an actionable plan to deliver better supply chain performance.
Do you have multiple priorities?
Discuss your challenges with us
Book a complimentary workshop with one of our experts to determine the top priority for your digital transformation. Already know your top priority or want to onboard new suppliers, get in touch so we can run a supplier check.