If a golfer were trying to correct her slice, she wouldn’t expect to fix it simply by buying the newest and most expensive golf club. Understanding her stature, swing path and preferences is key to fixing underlying issues and developing a better overall swing.
The same goes for complex supply chains, which are interconnected ecosystems that demand human guidance and context at every turn.
Without a doubt, global supply chains are overstressed due to a raft of recent challenges, including COVID-19-induced panic buying, production shortages, and logistics nightmares like the Suez Canal blockage.
But these challenges aren’t new, according to a recent report from Ernst & Young. COVID-19 simply accelerated and magnified existing issues, hampering the multi-party supply chain. As a result of the renewed focus on the global supply chain due to the pandemic, interest in autonomous and digital innovations to streamline workflow and optimize operations have been steadily rising in popularity over the past 18 months.
Simply investing in artificial intelligence and other emerging technology, however, isn’t enough to solve the underlying issues throughout the multi-party supply chain. Instead of playing buzzword bingo and expecting technology to solve every problem, businesses should look to their people and processes in tandem with innovative technologies to lead to real supply chain transformation...
This article was originally posted by SupplyChainBrain. To continue reading, visit SupplyChainBrain.com.