Why manufacturers should adopt new supply chain technology now

November 15, 2022 | 3 minute read
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By Matthew White, Marketing Analyst, ITOrizon

When a global supply chain crisis occurs, such as the one we’re in now, it’s important for manufacturers to act quickly to optimize results and mitigate future risks. While it can be tempting to change little about a company’s infrastructure to save costs and “weather the storm,” in hopes of the industry returning to normal, that naiveté can end in a manufacturer’s downfall.

While there may be a clear beginning to a supply chain disruption, such as COVID-19, it may not have a clear end, especially if it’s happening on a global level. A study conducted by Carl Marks Advisors in partnership with SupplyChainBrain in July surveyed U.S. supply chain executives. More than half stated they don’t expect a return to a more normal supply chain until the first half of 2024 or later, while 22% said they expect supply chain disruptions to continue until the second half of 2023.

With supply chain disruptions continuing to ripple throughout the industry for the foreseeable future, it’s essential for manufacturers to take steps now to mitigate potential risks and losses later. One such technology that can improve a manufacturer’s supply chain is Oracle Fusion Cloud Supply Chain Management & Manufacturing. Oracle Fusion Cloud SCM has a plethora of features, but some of the most relevant here include the following:

  • Multi-tier inventory and supply visibility. Oracle gives you the capabilities to set up end-to-end supply chain visibility covering inventory, production, and fulfillment status, which helps you understand how much inventory is available, where and in what form, as well as helping you foresee potential disruptions down the line and resolve them faster.
  • Smart manufacturing. Artificial intelligence and machine learning can contextualize data into comprehensible language and give insight into the best actions to take. Smart manufacturing can also predict machine failures, giving you enough time to plan out maintenance and adjust production schedules to avoid costly downtime.
  • Intelligent Track and Trace. This accounts for every recorded transaction across a supply chain—every hand off, location, and trading partner—and offers integrated GPS tracking and temperature monitoring so you can track potential issues with goods or steps in your supply chain and resolve them before they become a disruption.

All of these features give greater visibility and information into your supply chain, which helps predict and prevent disruptions—ultimately providing greater adaptability.

Supply chain disruptions are inevitabile, and the importance of adopting new technology to combat disruptions cannot be understated. If a manufacturer does not have a comprehensive map of their supply chain, it’s nearly impossible to determine how it will be impacted by disruption or the best response(s) to take.

With years of experience implementing Oracle Cloud and as an early adopter of Oracle Integration Cloud Services, ITOrizon is a rapidly growing major contender of Oracle Cloud SCM implementation partners. Some of our recent go-live span across the globe from Texas to Iraq to Saudi Arabia to India. Because of ITOrizon, these businesses have greatly reduced their costs and improved their productivity. Take the next steps towards digital transformation for your supply chain with ITOrizon.

Learn more about how ITOrizon has transformed companies with Oracle Cloud.

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