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.
The Ultimate Procurement & Supply Chain Event
Global eProcurement leader JAGGAER has been announced as the latest sponsor for Procurement & Supply Chain Live.
Recognised as a Leader by Gartner in both Strategic Sourcing and Procure-To-Pay, JAGGAER’s direct and indirect eProcurement solutions help over 1850 customers, connecting to a network of 4 million+ suppliers in 70 countries.
From September 28th-30th, Procurement & Supply Chain Live gives you the opportunity to 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.
Whether you attend virtually or in-person, you’ll strategise how to cope with global disruption, learn from industry pioneers - including newly announced speakers Chris Shanahan, VP Global Procurement/CPO at Thermo Fisher Scientific; Jim Townsend, Chief Procurement Officer at Walgreens Boots Alliance; and David Cho, CPO at University of Massachusetts - 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.
New Speakers for Procurement & Supply Chain Live
VP Global Procurement/CPO at Thermo Fisher Scientific
Shanahan is Vice President, Global Procurement/CPO for Thermo Fisher Scientific in Waltham, MA. He joined the company to lead efforts in leveraging scale in the marketplace, develop capability and processes across the company, while transforming the supply base. He co-authored the Procurement Leaders Handbook, and holds a Master’s in Business Administration from Open University in the United Kingdom.
Chief Procurement Officer at Walgreens Boots Alliance
Townsend leads Walgreens procurement (Goods and Services Not For Resale). Prior to joining Walgreens Boots Alliance, he worked for Anglo American and General Electric also within commercial procurement. He has worked overseas extensively, in both manufacturing and retail environments. He holds an MBA in Strategic Procurement from the University of Birmingham, UK and a Bachelor’s Degree in Mechanical Engineering.
CPO at University of Massachusetts
Cho is Chief Procurement Officer for the University of Massachusetts, Unified Procurement Services Team (UPST), comprising strategic sourcing, contracts, supplier management, procurement operations, accounts payable, travel services, and customer service that provide quality service to the UMass system. Cho has 25-plus years of strategy and operations management consulting and industry experience. He was formerly Global Head of Sourcing and Vendor Management at BlackRock.
CLICK HERE to order now and make the most of our early-bird offer. Ticket prices increase over 50% soon!