Einstein is famously quoted as saying, “If I had an hour to solve a problem and my life depended on the solution, I would spend the first 55 minutes determining the proper question to ask, for once I know the proper question, I could solve the problem in less than five minutes.” This rings true for businesses too. When creating the framework for your digital supply chain transformation, the most important element is to clearly frame your business problems and desired capabilities.
Companies’ supply chain transformations fail when they take action before understanding the problem they’re trying to solve. Determining what your company specifically needs and ensuring buy-in from key players gives your digital transformation a far higher rate of success and a real chance of creating clear value. McKinsey reports that transformation efforts can increase profits by 3.2 percent, larger than digitizing any other business area. The main barrier to full transformation is now operational and organizational planning. Technology without buy-in and dedication from key players in a company becomes a buzzword with little impact.
In “Beyond buzzword bingo: Driving digital transformation and shareholder value,” reprinted with the permission of Cost Management, Kinaxis VP of Industry Outreach & Thought Leadership Polly Mitchell Guthrie takes you through tips and tricks to enact positive, meaningful business change in your supply chain.