Supply chain management is the movement of goods and products between different departments of an organisation or between multiple firms. With time, the process and the whole concept of the supply chain have altered, and the digital revolution has taken this segment by storm.
Owing to the supply chain’s role in the growth and smooth operation of a business, this sector is now a hot cake in terms of employment. Thus, being aware of the supply chain management career opportunities and their particulars are essential to moving ahead.
Components of Supply Chain Management
All supply chains consist of a system of mainly five components:
These components are involved in mobilising products or services from the manufacturer/service provider to the consumer. If you are choosing a supply chain management career (MBA in supply chain), then you need to be aware of these components to move ahead in this field.
What do you Mean by Digital Transformation in Supply Chain?
Digital transformation in the supply chain is applying and integrating information technology into supply chain operations. Simply said, you automate every operation involved in the supply chain using computers and the internet. An MBA in supply chain covers the study of these sciences and techniques.
If you want to understand digital transformation in the supply chain through an example, then pick up Amazon. The e-commerce giant has been reported to spend 12% of its revenue on innovation in technology that it uses daily.
Automation through robotics, drones, sensor monitoring, AR (augmented reality) and AI (artificial intelligence) have helped in scaling the retail supply chain company.
Digital transformation in the supply chain leads to reliability, agility and efficiency of the enterprise. Top management colleges offer path-breaking programmes with cutting-edge technology to train future supply chain managers.
How does Digital Transformation Help the Supply Chain?
- Process automation – Everything can be done automatically from start to finish in a supply chain. This can be achieved with little to zero manual interference.
- Organisational flexibility – Digital solutions provide businesses with process flexibility and integration. This minimises manual delays or reduces inconsistencies in the processes involved in supply chain management.
- Better decision making – Digital transformation helps to monitor the supply chain easily. With accurate data displayed in front of you, it will be easier to make better and faster decisions for a situation.
- Continuous customer engagement – Digital transformation in the supply chain will increase customer engagement. Customers have more control, transparency and security while purchasing products or services from a brand.
- Innovation – The improvement over the conventional way of supply chain management (SCM) will help strengthen the company’s business model to improve relationships with suppliers and customers both.
- Skilled personnel – Digital transformation helps upskill team members in an enterprise. As a result, conventional methods are phased out and the efficiency of team is improved.
Indisputably, digital transformation in the supply chain will result in an all-encompassing and inevitable revolution in the corporate sector. So then, what are you waiting for to complete your supply chain management career? Act fast and act now if you want to move ahead of the competition/gain an edge over your competitors.