Imposing stricter supply chain control
By Stuart Evans, Chief Technology Officer, Invu
In a social media driven world, supply chain problems – particularly those that affect food, drugs or any government procurement - become headline news within minutes. But as organisations increasingly look to exploit global innovation, the supply chain is becoming ever more complex, creating greater risks of miscommunication and inconsistent performance.
So how can a business gain the value of international resources without enduring unacceptable levels of risk? Or attain rapid access to the raft of essential information that must underpin an effective and compliant global supply chain? How can a business store and retrieve this information in a secure, auditable and tamper-proof way without incurring a massive and unsupportable manual overhead?
In today’s increasingly international marketplace, organisations of every size are looking to exploit improved communications and technology innovation to access new markets. However, while the new business opportunities are compelling, there is also a sharp increase in the need for compliance and information governance.
Real time information
So how can an organisation confidently attain an end-to-end picture of the chain of custody, from inception to final delivery? Despite the perception of a joined-up, internet driven business model, not all information is online or easily accessible.
From price lists embedded within massive paper catalogues to spreadsheet-based performance reports, organisations face collecting and storing information in a multitude of forms and formats, and are often reliant upon manual processes for recording information.
Not only is this process time consuming and error prone, but it is high risk. In today’s social media fuelled and litigation led environment, there is no leeway if problems occur.
Without a robust method of maintaining documentation, critical business information may be lost. Organisations need to impose real control over this supply chain data; from catalogues and supplier information, to proof of deliverable, traceability of batches and the method of manufacture.
Not only are all these documents essential but they should also be treated and managed differently. A Document Management System (DMS) with a semantic knowledge of the business will recognise, for example, that a certificate is a document that should never be changed.
Furthermore, an effective records management model will flag when a certificate is due to expire and ensures the business applies for or requests a new one; otherwise the supply chain may be jeopardised.
This full audit trail is key to both imposing excellent information control and proving the accuracy and validity of complex supply chain data.
Proving the point
In fact, imposing greater control over the quality and accuracy of supply chain information is about far more than demonstrating good processes. It is about achieving efficiency in what can be a complex and expensive model; it is about finding effective suppliers and proving the value of your own business to others in the supply chain.
A single source of trusted, accurate and easily accessible information is key not only to proving the quality of supply chain processes but creating an effective and responsive business model.
The right information infrastructure empowers an organisation and delivers the absolute confidence that any information can be produced at any time.
By creating a robust data management model, organisations can not only exploit international supply chains to gain commercial advantage but do so in confidence with the knowledge that information is accurate, processes are robust and the entire end-to-end model is audited, traced and proven.
The Ultimate Procurement & Supply Chain Event
From September 28th-30th, network with C-level executives, gain insight from industry pioneers and walk away with actionable insights that accelerate your career. By the end of the week, we promise you’ll have the skills to solve the world’s most pressing supply chain and procurement challenges.
The three-day show is an essential deep dive into the industry, with influential speakers sharing insights and strategies from their organisations, group roundtable discussions, and fireside chats. Whether you attend virtually or in person, you’ll strategise how to cope with global disruption, learn from industry leaders, and walk away with tips, tactics, and tangible connections.
How to Attend
In a COVID-disrupted era, we know that the majority of people would rather avoid travelling for events─why take the risk, right? In response to the continued disruption, BizClik Media Group has decided that Procurement & Supply Chain LIVE will offer the best of both worlds through hybrid accessibility.
That means you and your peers can attend the event in person or virtually ─ with no disadvantages for people who choose not to make the trip to the Tobacco Dock venue.
Procurement & Supply Chain LIVE will be held at the Tobacco Dock in London, an industry-leading venue that is renowned for delivering world-class events. For attendees’ peace of mind, the venue is working to the government-endorsed AEV All Secure Framework, alongside mia’s AIM Secure and ‘Good to Go’ accreditation, they will ensure that we achieve a COVID-secure environment to facilitate all of your networking needs.
Our physical venue is both historic and stunning, but it has no bearing on the information that you and your peers can gain from the event. You can still absorb it all, interact with other attendees, and enjoy the conference experience on your alternative, virtual platform.
The platform will feature live feeds from all of the stages, as well as virtual networking areas. So, if you want to avoid travel, it’s not a problem! You can still get involved and enjoy the entire experience from the comfort of your own home.
What’s on the agenda?
With keynote addresses from global leaders, dynamic roundtable discussions, and extensive networking opportunities, Procurement & Supply Chain 2021 will expand your network, deliver insight, and enhance your organisation’s reach.
Across the three-day event, a number of relevant topics and trends surrounding procurement and supply chain will be discussed.
- Tuesday 28 September - Digital supply chain
- Procurement strategy (11:30 am)
- Supply chain leaders forum (12:00 pm)
- Women in supply chain (14:00 pm)
- Procurement technology (14:30 pm)
- Wednesday 29 September - Procurement consulting
- Sustainability (11:30 am)
- Supply chain management (12:00 pm)
- Digitalisation (14:00 pm)
- Risk & Resilience (14:30 pm)
- Thursday 30 September - APAC sessions (04:00 am)
Influential executives from around the world will give their insights and professional experiences surrounding these topics, allowing you and your company to leave with valuable information.
The past year has shown how important supply chains are and the importance of managing them correctly. With increasing digitalisation across all industries, you won’t want to miss out on our great speakers and information surrounding this topic. Preparing your company for the future is key, and we are sure you will gain great insights at our three-day event.
Order now to make the most of our early-bird offer. Ticket prices increase over 50% soon! For tickets and information, head over to our event site.