What is the Cost of Doing Nothing?

1. Increasing supply chain complexities

Supply chains are broadening out to incorporate more suppliers and customers across many geographies. At the same time, companies are trying to get the best price and delivery options as quickly as possible. Combined, these factors are just further complicating supply chain and logistics processes.

The challenges are more than meet the eye. Companies are also working with more vendors, each of which has its own method of collecting and sharing data. Automated suppliers may provide shipment status updates in real-time, whereas smaller suppliers that use manual systems, still mostly relying on phone calls and emails. Those companies that provide manual updates, or even no updates at all, are at risk out of going out of business.

2. Customers cannot make informed decisions

Data is stored across many different departments, employees, products, services, suppliers, and customers and customers do not get a single source of truth. This prevents accurate analytics and actionable insights that support informed decision-making.

3. Keeping customers and scaling your business is difficult

The cost of new customer acquisition is huge. Digital supply chains ensure the ability to promise customers accurate delivery dates, sharing data with them, and meeting those delivery commitments as often as possible. If your company cannot do this, your customers will leave and find someone who can.