Global Trade is Fast
The world of global trade is fast-paced, ever-changing, always evolving. In order to keep pace, your supply chain processes and technology need to evolve too.
The processes during sourcing, transportation, and import/export are unique to every organization, consisting of multiple layers of suppliers, vendors, and service providers; each adding additional complexity and the accompanying tasks to move products across borders.
As companies expand global operations to take advantage of cost savings in other regions, they are put under pressure to deliver the right product at the lowest price into the waiting hands of customers.
To address this complex environment, organizations need to take a holistic, integrated approach to digitizing their supply chain to enable four methods leading to value:
The Digitized Global Supply Chain
Digitization makes it possible to share (collaborate), process (automate), and analyze (analytics) the information.
A digital model of the global supply chain creates the ability to quickly and easily adapt to the real world (flexibility).
Digitizing global trade management (GTM) processes can be more closely aligned with business policies and objectives – unlike traditional methods of outsourcing processes and/or managing disparate systems.
Best-in-class companies have then challenged the customary thinking of GTM being a cost of doing business, to finding opportunities in the logistics, legislation and financial functions.
Digitization enables real transformation and it is the key to boosting revenue and achieving a competitive advantage, yielding three value factors through supply chain digitization.
Download this eBook and Learn what these value factors are and discover more on the methods of transformation.