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How to Maximize your Investment in Supply Chain Digitalization?
In the past, automating supply chain processes and deploying innovative technology solutions required a large upfront investment, and projections said it would take years to make that money back. Sometimes it paid off, but other times the new system could not keep up with changes and became outdated before it could start making money again.
This was one of the risks of trying to automate the supply chain.
With today's technology, a lot of the risks that come with digitization have been lessened, making it simpler to get the most value from supply chain technology.
Here are just a few of the innovations that have made this possible:
1. Increasingly mobile and flexible solutions:
Mobile devices can be designed to work with existing warehouse infrastructure to improve productivity. Notably, when integrating Ventory 3.0 on your mobile device, it is possible to quickly start scanning and managing your spare parts inventory.
This infrastructure can be deployed quickly, scaled easily, and repurposed to other facilities if requirements change.
2. As-a-service financial models:
The current generation of mobile solutions is very flexible, which has enabled new financial models that require less upfront investment to introduce new inventory management technologies.
This is great news for businesses who want to adopt new supply chain technologies, as it lowers the barrier to entry.
3. New business drivers:
Any innovative technology you bring into your company should have a clear purpose behind it - namely, cutting costs in some way. For example, if a solution can reduce the amount of seasonal labour you need by half, that is a good enough reason to invest in it - especially considering that you can pay for it as a service, which requires less of an upfront investment.
4. From change-hesitant to technology advocates:
The workforce today is more open to working with robotics and automation technology than ever before. With the widespread recognition that organizations are struggling to fill open positions, innovation can play a key role in alleviating the stress on an organization and its existing workforce.
5. 3PL access to multi-vendor expertise:
The last barrier that has been removed is the need to qualify and manage multiple technology vendors. Third-party logistics providers (3PLs) like DHL Supply Chain can help you manage and qualify multiple technology vendors.
DHL has the rare combination of supply chain and technology expertise needed to make warehouse technology work, and its established relationships with vendors give you access to a full range of digitalization solutions. Plus, DHL has proven processes in place to qualify vendors, so you can be confident you are working with the best possible partners.
With many of the barriers gone, it has become easier than ever to start fully implementing a digital supply chain. With Ventory 3.0 being just one of those solutions, it has now become possible to fully take advantage of the supply chain technology available to you.
Read the full article on Bloomberg directly by following the link below!