Whereas a few years ago product quality or differentiation allowed supply chain managers to concentrate on cost reduction and increased efficiency within supply chain operations, that just doesn’t cut it anymore. Customers no longer expect a product, but a solution embedded in an experience. Or – to put it bluntly – they don’t want a dish, they want a delightful dinner experience that makes them want to come back. Read on to find out about the two key ingredients you mustn’t forget.
Many companies are interested in understanding the concepts of “Industry 4.0”. In addition, they are eager to know how those concepts could help them to transform. Nevertheless, why is there no vision on Supply Chain 4.0? The same question occurred to Lora Cecere, the founder of Supply Chain Insight, and she reflects on this in her recent blog “Time for Value Chain 4.0?”
We all grew up under the holy mantra of shaping data into information. Correct service to our customers was based on actual knowledge derived from a clear structure on top of the big pile of underlying and meaningless events, numbers, and facts and figures.
An agile supply chain must be responsive to actual demand, and capable of using information as a substitute (to some degree) for inventory through collaboration and integration with key customers and suppliers.