McKinsey & Company: Next Generation Digital Supply Chain
The Internet of Things (IoT), advanced robotics, automated technology, big data and more innovations are shaking up the supply chain industry every day. These trends, that come under the Industry 4.0 umbrella, can bring huge benefits to companies. But they are not without their disruptions and challenges to overcome.
As these trends and technologies continue to disrupt the industry and improve performance, changing customer expectations have forced everyone else in the sector to adapt. Keeping up with these trends is essential to survival and success, and getting ahead of the curve with the next effective disruptor could propel a supply chain to the very top.
Supply Chain 4.0 will be faster, capable of reducing delivery times to just a few hours. Faster deliveries depend on forecasting approaches and predictive analytics, which can take market trends, weather, holidays, construction works and more all into account, providing an accurate forecast of customer demand.
Predictive shipping is the future for faster deliveries. Amazon holds a patent for this - it will ship products before the order has even been placed, matching the customer order to a shipment at a later date, with the product already in the logistics network, in transport towards the location of the consumer.
Future supply chains will also be far more flexible and agile. Real-time planning will enable this flexibility, with the ability to react to changing demand or supply situations made easy. Frozen periods and planning cycles can be minimised, whilst planning becomes a continuous process, capable of reacting to changing requirements.
Increased flexibility throughout the delivery and logistics processes can allow for customers to reroute shipments after they’ve been sent, relocating them to a more convenient location.
As supply chains continue to produce more and more data from their operations, it will become increasingly important for them to become more accurate. For this to happen, Supply Chain 4.0 will usher in the next generation of performance management systems, capable of providing real-time, end-to-end transparency throughout the supply network.
These management systems will be able to track supply chain information right down to the exact location of trucks as they’re on delivery runs. Such a range of data can provide suppliers with a join information basis that anyone can access in the supply chain.
By integrating suppliers, service providers and more into a supply chain cloud, all stakeholders can see the data and make decisions based on the same facts that everyone can see, meaning decisions can be more accurate and effective for everyone concerned.
New speakers announced for Procurement & Supply Chain Live
Two leading executives in supply chain transformation have been confirmed for this year's Procurement & Supply Chain Live event.
Procurement & Supply Chain Live is the perfect opportunity to hear from prominent executives at the world’s leading procurement and supply chain businesses. The event will be streamed live from Tobacco Dock, London via the leading networking platform Brella.
The three-day show, running 28-30 September 2021, is an essential deep dive into the industry, with influential speakers sharing insights and strategies from their organisations, group roundtable discussions, and fireside chats.
We take a look at the latest additions to the already amazing lineup of speakers announced so far, and what they will bring to the flagship event.
VP Global Supply Chain at Macmillan Education Ltd
Shaun Plunkett has over 30 years of supply chain leadership experience in FMCG, entertainment and media sectors, supporting multi-billion euro businesses including Universal Music, EMI, Sony Music, Harper Collins and Associated British Foods. He has a track record of successfully delivering transformational change coupled with award winning operating models and developing and coaching global teams. Plunkett says that challenging the status quo is at the heart of what drives him on a daily basis - and encouraging others to continuously push the boundaries.
Read more about Plunkett’s involvement in Macmillan Education’s supply chain transformation HERE
Digital Transformation Lead, Oracle UK and Board Member, CILT at Macmillan Education Ltd
Vikram Singla is digital transformation director at Oracle, UK. He helps supply chain and finance business leaders leverage technology to deliver meaningful business outcomes for their organisations. He also serves on the board if CILT (Chartered Institute of Logistics and Transport) – UK and is an Honorary Visiting Fellow at Anglian Ruskin University. Singla has more than 25 years’ experience in the technology sector, and in global supply chain transformation, including deploying business transformation programmes for Fortune 500 firms. In his spare time, Singla is a passionate brand ambassador for Cancer Research.
Plunkett and Singla join a growing line-up of speakers, including: Sheri R. Hinish, IBM; Robert Copeland, G4S; Daniel Weise, BCG; Mark Bromley, Mastercard; David Loseby, Rolls Royce; and Ninian Wilson, Vodafone Procurement Company.