Alyssa Futterer, Senior Marketing Technology Manager at Blytheco, has over 12 years of digital, communications and content marketing experience with 5 years in software tech specializing in the ERP, EDI, and SaaS space. Alyssa leverages her relevant experience to create content that educates and informs customers and industry professionals, and helps to improve their businesses through innovative software technologies. Connect with Alyssa on Linkedin.
How to Meet Supply Chain Challenges in 2022
The Covid-19 pandemic exposed the fragility of global supply chains as local disruptions continue to cause shortages of products and materials around the world. Even as the economy and consumer behaviors bounce back to pre-pandemic levels, supply chains are taking much longer to catch up. Luckily, there are many ways that businesses can mitigate these disruptive effects through the right software systems and processes.
Global Supply Chain Disruptions in 2021
Currently, companies across all industries are dealing with bottlenecks for goods and services. These effects are compounded by labor shortages in ports, transportation, and warehousing, as well as the reduced availability of containers. In addition, the ongoing semiconductor chip shortage continues to hinder manufacturing capacity as new production ramps up.
Low-margin industries, such as transportation, retail, construction, and automobile manufacturing, have been particularly hard hit by the rising costs of materials and shipping. Unfortunately, too many companies rely on legacy technology and manual processes, hindering their ability to respond. Software transformation is often postponed or neglected due to cost, fears of implementation issues, or lack of awareness.
How to Mitigate Supply Chain Disruptions
We are now seeing the results of inadequate systems that do not allow business to pivot fast enough to adapt to new conditions. Early investment in productivity-enhancing technology may have been key to sustaining operations during uncertain market conditions. As such, adopters of cloud ERP (Enterprise Resource Planning) systems find themselves at an advantage.
While larger enterprises have dealt with supply chain challenges by chartering their own ships, such drastic measure are not feasible for small-to-midsize businesses. However, small, medium, and larger businesses can benefit from modern software solutions to manage their supply chains more efficiently. Requiring no on-site installation, Cloud ERP provides manufacturers, distributors, wholesalers, and more with the flexibility to adapt to the new reality.
Benefits of Cloud ERP
The Covid-19 pandemic was a black swan event that nobody could have foreseen. Nonetheless, the past two years have caused businesses to reconsider their resilience and ability to respond to unforeseen events. As a result, the pandemic greatly accelerated the adoption of technologies which had been neglected in the past.
Companies who transition from legacy systems to a cloud-based ERP software solution can take advantage of numerous features and benefits, including:
You can only respond to what you can see. Breaking down data silos between disparate systems provides an elevated view of operations. Leveraging data visibility empowers businesses to analyze demand, inventory, supply, and finances across the entire organization to make better informed decisions.
Advanced Forecasting and Analytics
While the current supply chain issues might be top of mind, it’s critical to look ahead. Prepare for the future by updating forecasting models and predictive capabilities to provide insight into best- and worst-case scenarios. Accurate forecasts help businesses make short and long-term adjustments to their supply chain before problems become unmanageable.
Despite small signs of improvement, current supply chain challenges may likely persist for a few years. For some industries, these effects may be more permanent than others. Businesses can enhance their operations and leverage technology to identify risk factors in their supply chain and make timely adjustments.
Supply Chain Management and ERP Software
ERP software investments assist supply chain management in buckling down during the present and preparing for the future. In addition to streamlining day-to-day operations, capabilities of robust ERP software solutions can be leveraged to meet future supply chain challenges.
- Planning and forecasting are ERP capabilities providing insight into supplier delivery times, number of items, customer demand, maintenance, and more.
- Real-time data visibility across the entire value chain equips supply chain management with the tools needed to assess and respond to changing conditions.
- Analytics provide flexible reports across multiple tiers and dimensions for an in-depth review.
As an award-winning ERP partner with over 40 years of experience working with manufacturers, the Blytheco team has the expertise to transform your supply chain management processes. Regardless of the supply chain bottlenecks or challenges persisting in your business, our experts can help optimize and implement an ERP software solution to mitigate them and position your business for future success.
Connect with our team to discover how an innovative ERP software solution paired with an expert Blytheco partnership can help you meet your unique supply chain challenges.