The growing digital footprint in the supply chain sector has brought greater relevancy to the role of CIO.
FREMONT, CA – Supply chain management plays a crucial role in the growth of an organization. It acts as a channel between businesses and consumers, ensuring the delivery of the right products to the right place. It has gained more traction in the dynamic landscape, playing a more significant role in driving businesses to the digital age.
As technology permeates the supply chain, the CIOs are turning their attention toward the evolving sector. The performance of the supply chain directly affects the position of the organization in the competitive marketplace. The burgeoning digital footprint in the industry demands higher intervention from CIOs.
Here are a few pointers for CIOs to efficiently manage the supply chain process:
• Overlook the digital and technological incorporation in the supply chain.
• Facilitate seamless collaboration between IT and supply chain.
• Partner with functional managers to form better strategies.
• Participate in sales processes and deliver insights.
• Centralize siloed information systems into a consolidated database.
• Adopt emerging technologies to automate data processing.
• Take part in the procurement and spend cycle.
• Identify and mitigate the risks and challenges in the supply chain.
• Take steps to meet the varying demands of the customers.
It is crucial for CIOs to include supply chain into their strategies. Leveraging a centralized information platform will not only enable the consolidation of vital business data but will also facilitate more efficient execution of strategy. CIOs need to pay more attention to how they can bolster the capabilities of the supply chain and encourage collaboration.
Organizations often rely on multiple data sources to inform their processes. CIOs can take steps to eliminate the disjoint information silos and provide an easily accessible and consolidate data source. Although enterprise resource planning (ERP) brings together data, it is difficult to extract insights. In such cases, CIOs can adopt emerging technology solution to automate the processing of data.
As the keepers of IT systems and databases, the CIO enjoys access to vast troves of data which can equip them with valuable insights to inform the investment life cycle, including contracting service providers, managing key performance indicators (KPIs), and replacing technology. By identifying the relevant KPIs, CIOs can work toward the resolution of various challenges in the workplace.
The expertise of CIOs in IT digital transformation places them in a position to advice on the operation model for the supply chain process. The centralization of functions, including HR, finance, and procurement, will enable companies to promote greater collaboration. The implementation of shared service centers and formation of partnering teams will enable CIOs to facilitate better interaction between departments.
Major organizations have sophisticated supply chains with several layers of processes which are difficult to control. When organizations incorporate technology to eliminate the risks and challenges, it comes to the CIO to ensure visibility and control when it comes to supply chain partners.
In the competitive marketplace, it has become imperative for organizations to pay more attention to customer satisfaction. It can be achieved by facilitating cutting edge technology, which empowers the seamless exchange of information irrespective of their location. By establishing a centralized information platform, the relevant personnel can gain access to critical information. It will not only reduce errors but will cut lead times and deliver goods faster to the customers.
The technological evolution is making it imperative for CIOs to anticipate the move of their competitors, driving greater efficiency and cost-effectiveness. With robust strategies, CIOs can bring greater accuracy and productivity into their companies and supply chain processes. It will not only establish their presence in the market but will also enhance their relationship with customers.