Supply chain management is an integral part of most businesses and is essential to company success and customer satisfaction. Manufacturers and retailers depend on supply chain managers to design networks that meet customer service goals at the least total cost. Efficient supply chains enable a firm to be more competitive in the market place. Effective market coverage, availability of products at locations that hold the key to revenue recognition depends upon the effectiveness of supply chain management rolled out.
The business landscape is rapidly becoming more global. Largely due to improvements in communications, globalisation is dramatically impacting the way business is managed and transacted, even on the most local levels. No area of a business is more affected by the trend to a global business environment than the supply chain. Manufacturing, distribution, sourcing of materials, invoicing and returns have all been significantly impacted by the increased integration of a global customer and supplier base.
As companies increasingly use their supply chain to compete and gain market share, spending and activity in this area are notably on the upswing. Technology and process upgrades at forward-thinking companies clearly show that supply chain excellence is more widely accepted as an element of overall business strategy and that increased value to customers is not just management's, but everyone's, business. Emerging technologies continue to drive the logistics and supply chain, while managers in these areas continue to examine the possibilities such as blockchain and platooning. The right supply chain design is critical to managing the changes brought about by rapid globalisation. A well-thought-out supply chain network design can optimise the supply chain network and the flow of materials through the network.
The latest trends in supply chain focus on smart, tech-driven management to reduce operating expenses and increase efficiency. Companies implementing well-designed supply chain practices are able to meet consumer needs in a more expeditious and timely manner. Digitisation improves the speed, dynamics, and resiliency of the supply chain operations, leading to greater customer responsiveness and ultimately higher revenue. In order to reap the full benefits of digitalisation, companies must fundamentally redesign their supply chain strategy. With new advances in technology, such as the IoT and big data, companies are able to gain complete visibility of their entire supply chain and make dynamic decisions and optimise their resources. Supply chain management has undergone a sea change in the 21st century – by embedding product and process innovation in supply chain operations and consciously managing and shaping demand from customers, this critical function has advanced a great deal. There is a lot of potential in benefitting from new age supply chain management solutions as companies position supply chains as enablers of revenue and margin growth.
To help organisations select the best vendors, a distinguished panel comprising of prominent CEOs, CIOs, VCs, and analysts, along with Manufacturing Technology Insights’ editorial board has assessed and shortlisted supply chain management solution providers that are at the forefront of providing cutting-edge powerful solutions. We present to you “Top 10 Supply Chain Management Solution Providers – 2019”.