I recently read an article by Chris Schmidt in CFO Magazine regarding the digital CFO and it made me think about supply chain leaders. The article was focused on how IT is reshaping the role of the Chief Financial Officer. IT is also reshaping the role of supply chain practitioners and I would argue that at an even greater rate due to all the operations supply chain experts touch.
Even though excel spreadsheets still run a large portion of supply chain operations, the digital transformation is upon us. Key technology enablers like Social, Mobile, Analytics, and Cloud are changing the way you run your day to day operations. It’s not a question of if these enablers will impact you but when and supply chain experts ought to be prepared.
As supply chain experts, it is in our best interest to stay current on the latest technology trends. In the CFO Magazine survey:
• 50% of respondents expressed that the usability gap between consumer technology and finance technology is expected to be closed in 3 to 5 years. Is your supply chain ready for a similar shift?
• Also interesting in the survey was that over 75% of respondents indicated they are either early adopters (20%) or staying current (56%) with modern digital technology vs. only 69% or respondents five years ago.
What does this mean to supply chain? It is important to remain current and understand the technology shift that is shaping the way supply chain operations are executed. Remaining up to date on these technology trends is imperative, otherwise you may be opening up your company to risk or even worse, losing the competitive advantage your supply chain provides for your organization.
Find out more about Oracle Supply Chain Cloud