Is There a New Normal in Supply Chain?
In supply chain, uncertainty is the only certainty. There were massive disruptions in the supply chain during the pandemic and we are still seeing the impacts of this disruption today. One positive that came out of the pandemic is proof that the supply chain is a vital and strategic part of the success of a business.
Epicor released their 2022 Insights Report recently and it was filled with a ton of great information. One of the key findings was that in response to the challenging supply chain environment, more than two thirds of make, move, sell companies shifted their business model in 2021, and 85% of them saw growth.
Various types of businesses are adopting innovative supply chains and altering the way they do business to compete in new ways. With all the disruptions in the supply chain because of the pandemic, businesses had no choice but to find a way to survive. The survey revealed 78% of those surveyed across manufacturing, distribution, building supply, automotive and retail industries changed their core business models over the last year to better compete.
Businesses are going to have to keep evolving and evaluating their business strategies. Manufacturers will continue to expand their offerings and lean into cloud-based technologies to give them the flexibility to do so easily. History often repeats itself, so businesses need to remember the lessons they have learned from the pandemic.
The digital supply chain is the future. It gives businesses the ability to react and respond quickly. With real-time visibility, every aspect of the supply chain is visible for real-time analysis, decision making and responsiveness to handle any situation. The core of the digital supply chain is end-to-end connectivity of every node, process, participant, and data.
2W Tech is a technology solutions provider specializing in manufacturing solutions. If you would like help modernizing your supply chain, look no further. Give us a call today to learn more about cloud-based technologies.