IDC Whitepaper: The Value Of Modernising The Supply Chain | Technology
As global supply chains continue to evolve and transform with technologies such as big data, the Internet of Things (IoT) and AI, IDC has taken a look at why now is the perfect time to restructure.
The IDC whitepaper, sponsored by OpenText, has looked in detail at the implications of digital transformation on supply chains, the factors of a successful digital transformation deployment, the value of utilising external integration support and the key drivers of digital transformation in supply chain management.
A report from IDC found that 66 percent of companies have considered outsourcing their B2B infrastructures and capabilities, which could be an investment that supports faster and more agile digital transformations.
Digital transformation isn’t something that is necessarily going to immediately disrupt a supply chain. Most of the short-term applications of the technologies are designed to improve the performance and efficiency of current approaches and processes, with the disruptions to take place at later dates.
To ensure success when deploying digital transformation initiatives and solutions, companies must leverage external integration support. Most companies looking to implement new solutions will not have the internal skills and capabilities to implement new, disruptive technologies.
As the figure displays, big data analytics, B2B cloud networks, and cloud technologies are generally already considered as mainstream, with companies using them to learn of new efficiencies and better ways to work using them.
B2B cloud networks tend to work differently from the other disruptors listed in the table. As a solution that supports the underlying operations of the business, B2B networks assist businesses with ERP, CRM, PLM and more. As technologies such as IoT and wearables become more common within the industry, cloud software and B2B networks will become increasingly essential to organisations.
Whilst not covered within the report, blockchain technology still stands to be one of the most influential players in supply chain digital transformation. More and more vendors are coming to the forefront of the industry every day, with blockchain technology fully integrated into their operations.
In conjunction with other innovative technologies, such as machine learning and IoT, blockchain has the potential to be completely transformative to the supply chain. With the ability to completely revolutionise data integrity and the ability to understand and manage it, blockchain offers a powerful approach to information and improved visibility and traceability within the supply chain.
Image source: IDC