Do you follow the “profit = price – cost” formula rather than the traditional “price= cost + profit” formula .
Then you need to embrace the opportunity to modernize your systems, must rapidly identify your business process limitations, and invest in technologies that can improve productivity,expedite tasks, and support fast decision-making. The value of modern enterprise software lies in its ability to automate workflows and business processes—via technologies such as digitization,advanced and predictive analytics, virtual and augmented reality, and the industrial internet of things (IIoT)—making it easier to run operations and deliver products faster.
In a modern supply chain, outdated ways of working can slow down the speed of communication, creating silos and bottlenecks, and straining supplier and trading partner relationships. This calls for supply chain tools that deliver network-wide trading partner connectivity to enable real-time visibility, sense and respond to changing needs, anticipate bottlenecks before they happen, and reroute shipments when needed.
Organizations must begin their digitalization strategy with tools that can intelligently sense and respond to changing supply chain needs in competitive marketplaces, while also integrating data, processes, systems, and visibility across sourcing, warehouse, and distribution operations—from end to end. This requires agile solutions that can deliver enhanced performance in markets where customer demand is continually evolving.