Streamlining supply chains – with data
By Erich Gerber, SVP EMEA & APJ – TIBCO Supply chains are essential to everyday life and are made up of important links. Those links are people, processes, and facilities; everything that’s needed to deliver goods from one location to the other, and technology plays a critical role in enabling and maintaining those links. If you are simply the recipient of those goods, chances are you don’t think too much about supply chains, until one of those links breaks – just like when the toilet paper supply chain broke in the early days of the Covid-19 pandemic. Despite no inherent weakness in the toilet paper supply chain, undue stress was placed on production companies due to ‘panic buying’ during the pandemic, a completely unpredictable situation. However, the pandemic also resulted in a number of expected and very justifiable demands on supply chains, for example the enormous surge in online shopping, for everything from groceries to fitness equipment. The challenge for all players in the supply chain — manufacturers, importers, warehouses, shippers and retailers — is to meet demand and keep customers happy without any noticeable disruption. The key to this is accurate data and the technology behind it at different touch points throughout the supply chain, which can help businesses analyse the demand and supply so they can plan and execute accordingly. Analytics and data-driven insights allow manufacturers and operators to optimise production and distribution capacity. And signals generated from market changes like seasonality and social events can be used to escalate production or even reallocate distribution. Using data to manage supply chains For more ambitious supply chain enhancements, the solution is to leverage the same digital technology that is disrupting supply chains and re-invent them for optimal performance. In this digital world, ‘chain’ itself becomes something of a misnomer. […]