Your supply chain can be a competitive advantage. Not a “sexy” competitive advantage but a very profitable one. Efficient management of an optimized supply chain saves costs, which goes straight to your bottom line. Integration and synergies between all supply chain components leads to greater profitability for your growing small-to-medium business (SMB).
Therefore, smart growing companies are always looking to optimize their supply chain. It is just the smart thing to do.
Traditional supply chain management (SCM) systems are not adaptable. They lack the agility needed to respond appropriately and quickly to continually changing customer needs. Most are a bundled together set of siloed applications that do not work well together, forcing much of the actual “planning” onto spreadsheets, email, and maybe even fax machines or phones.
So what should you implement? A “non-traditional SCM system?”
Well, the short answer is no, but you do need a new approach. You need a new, optimized supply chain management solution―one that is innovative, automated, and integrated. You need a SCM Cloud solution that can get customers exactly what they want, when they want it for as little money as possible. The money aspect is key since supply chains typically generate 90 percent of companies’ (of all sizes) costs. Anything that can be done to reduce costs can have a tremendous impact. For example, every dollar invested in streamlining supply chain management provides an average return of $7.23.
So can your supply chain really provide a competitive edge? Yep, just ask Wal-Mart and H&M and Unilever, companies that have grown, grown, grown thanks to a laser-like focus on their supply chain.
Rigidity within the supply chain hinders growth to the point that your SMB’s survival might be on the line. When too much time is spent on manual processes (and searching for mistakes), too much money is spent maintaining the status quo (on-premises systems upgrades, anyone?), no time is spent innovating and looking for ways to make the supply chain a competitive differentiator.
Transforming to a digital supply chain―one built in the cloud to ensure complete integration from suppliers to product(s) to customers―is not an option but a necessity. For many SMBs, digitally transforming their supply chain is a key opportunity to use the Internet of Things (IoT) to revolutionize logistics models. IoT offers an unprecedented level of connectivity between vehicles, assets, and warehouses—and, combined with the comprehensive interconnected capabilities of the cloud, that data can now inform decision-making throughout your business.
With Oracle Supply Chain Management Cloud, you can create a single, trusted 360-degree view of your whole supply chain operation to:
1) Lower operating costs
2) Source more effectively
3) Reduce inventory costs
4) Improve space use in warehouse
5) Increase inventory accuracy
6) Ease productivity analysis