Now is the best time for any supply chain management expert to help in the finances of their high tech logistics IT. With the current Internet of Things (IoT) and information age, flexibility and speed are essential to impart precise data both externally with customers, suppliers and vendors, and internally within the business units.
With the US economy heating up, businesses must analyse their sales growth potentials and create a continuing investment scheme in their supply chain technology. It should be a basis for annual budget in the corporate CPI programme.
In every passing year, the technology lifecycle gets shortened. New technology is developed, making older versions outdated. Manufacturing is turning more tailor-made, and customers want more flexibility, fast product deliveries, and all for cheaper prices.
These prerequisites place utmost pressure on the high tech logistics sector to execute. As such, there is an essential focus on disruption logistics that concerns itself on issues with logistics interruptions triggered by lack of supply chain or natural catastrophes, and also disruptions triggered by new technology.
The Rising Need for Intelligent Supply Chains
In the international market, the supply chain is the battleground. The high tech logistics demand fluid expansion and contraction of your supply chain and demands coherent cooperation and combination among always different software systems.
How fast can the supply chain respond to directions found on social media or the new customer demands to notify the business suppliers, vendors and partners so production levels can be modified, or agree on high tech logistics to timely and cost efficiently meet the needs of your customer? If you want to thrive and survive, you should have the proper technology and the right integration. If you are slow and uninformed, business will die so quickly.
You don’t need to purchase the latest technology just to have it. You need to have a sound return of investment, research and visioneering, so you can innovate an IT investment scheme. You need high tech logistics that will assess current and upcoming technologies and review its possibilities for your business model and its sustainability in the market.
Before you innovate an extensive logistics IT investment strategy, know the key performance indicators (KPIs) and critical metrics of your business model through the whole supply chain. Whether you belong to the Stone Age or the Information Age, the saying applies: You can’t handle what you can’t assess.