Thursday, November 24, 2022
HomeDelivery, Logistics & FulfillmentSpreadsheet no longer a magnificent tool for supply chain management

Spreadsheet no longer a magnificent tool for supply chain management

The face of business technology is changing. Supply chain management has become more contactless and streamlined. There is a shift in B2B. The payment and processes attached to it. They focus on the supply chain, and the inventory shortage has continuously addressed most of it.

Lockdown aggravated the problem and hit the operating margins and cash flow management. It is the top mind of executives which grappled with the inflationary headwinds. Concentric President with COO Matt Clark and CFO Brad Reynolds discuss the same issue. They come to explain how the functions and managing relationships are subject to up and down today. The whole process is going under digital transformation.

Clark explains, “There are all these systems that don’t talk to one another. so you get a staring contest [between departments], and there is friction over payment terms, overpayment modalities. there’s got to be a more holistic view that improves internal efficiencies and trading partner relationships.”

84% of the CFO see this maximizing cash flow as a critical and serious stage. There is an embracing of new technology. Its whole existence of it provides efficiencies and removes friction from it.

The holistic view of this technology is the tracking of delivery mechanisms. There is going to be a better approach to them. They are trying to bring up a better point solution with such systems. The progress on the B2C side is huge, but there is still a lag on B2B. It makes it very difficult for the entire section.

He explains there is a need for changes, and it is leveraging the intel of partners. The loyalty demands of 50% of customers are increasing. We are trying to maintain 80% of digital traffic. Every touchpoint offers a great experience, and there are hiccups in the stockout. There is a need to address the supply chain then; only we can look at customer experience.

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