Supply chain functions in the year 2030 will encompass a wide range of functions such as which technologies will be the most impactful and how quickly organizations can adapt to change.
With the advent of connectivity, mobility, and visibility, supply chain functions have started shrinking globally. Having a website to connect buyers and sellers is easy to implement. The challenge enters the picture when there are multiple suppliers and buyers involved in different geographical locations and time zones.
Companies will be pressured to innovate and stay ahead of their competition which includes taking care of all the elements of the design process. Around 39% of product development companies have implemented a collaborative design process across all locations with improved functionality.
Another aspect of changes expected to happen in a little over a decade is the need to understand customers thoroughly. This is not limited to demographics of a customer profile, but also will take into consideration the feedback shared by customers. It is anticipated that around 47% of businesses are going to focus on the “empowered consumer” as more than just an idea. This means having serious feedback on social media channels and ensuring corrective and precautionary measures are taken.
Beyond that, it is predicted that companies who don’t have a strong sales and operations planning model will eventually face stiff challenges with industry capabilities. 86% of companies are more likely to have closed-loop integration of planning and execution processes by that time. The idea isn’t altogether new, but to leverage automation, competition has to move processes ahead.
In extending collaboration and visibility across the supply chain, data stands a better chance of being seamlessly connected and business leaders will be able to make better decisions and improve performance.
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