How Cloud Computing is Reinventing Supply Chain Management?
Greater risk of disruptions, increasingly volatile consumer preferences, fast-paced product launches, and global competition are inevitable elements of the present-day market landscape. In order to stay competitive, organizations must reimagine their business processes, especially supply chains.
Businesses need to consider shifting from the traditional and linear supply chain models to smarter, digital supply chain networks. All while optimizing costs and improving efficiency in a highly competitive global environment.
Amid the gamut of technologies available today, cloud computing has emerged as a real game-changer for businesses to innovative Supply Chain Management (SCM), rapidly and efficiently.
How Cloud Can Transform Supply Chain Management?
Cloud helps organizations innovate processes at every level of their supply chain, from planning and sourcing to manufacturing, logistics, and distribution, glean new insights for decision-making and automate activities. It helps build stronger, smarter supply chains.
Cloud enables a connected, intelligent, scalable, and rapid supply chain, which drives unprecedented visibility, resiliency, agility, and flexibility across businesses.
1) Connected supply chain
By leveraging structured and unstructured data generated across the supply chain, cloud solutions improve the connectivity of the supply chain network. This helps companies to easily connect with their suppliers, vendors, and customers. Cloud also facilitates dynamic provisioning, multi-tenancy, improved server utilization, and datacenter efficiency.
Benefits of the connected supply chain:
- Real-time visibility
- Seamless collaboration
- Next-gen operating models
2) Intelligent supply chain
The cognitive intelligence and predictive analytics offered by cloud computing help organizations gain right information for decision-making, at the right time. While intelligence enables proactive decision-making ‘on the go,’ the analytics help spot potential risks. Cloud offers actionable insights that make digital supply chains intelligent.
Benefits of the intelligent supply chain:
- Reduced disruption mitigation time
- Improved automation
- Enhanced innovation
3) Scalable supply chain
As cloud-based solutions operate on a flexible, usage-based model, the network, storage, and capacity needed across the supply chain can be scaled up or down as per customer demands and market conditions.
Benefits of the scalable supply chain:
- Maximum efficiency
- Enterprise-level flexibility
- Improved customer experience
- Optimized costs
4) Rapid supply chain
With cloud computing, businesses can now operate their supply chain models at speed – successfully in a volatile market. It enables faster planning and execution resulting in reduced time to market. By moving to the cloud, organizations can gain better access to resources and information, enhancing flexibility and responsiveness to market conditions.
Benefits of the rapid supply chain:
- Quick response to supply chain disruptions
- Proactive threat prevention
- Repurpose resources at scale
Now is the time for action!
Driven by the rapid realization of cloud computing benefits, the global SaaS-based SCM market size is expected to grow from USD 3.3 billion in 2019 to USD 5.62 billion by 2025, at a CAGR of 14.2% in the forecast period of 2020-25. These figures reveal how businesses are increasingly relying on cloud-enabled solutions to transform their supply chain management.
ALSO READ: Cloud Implementation Services and Solutions
However, enabling an end-to-end cloud vision for supply chain management requires more than an ability to procure cloud solutions. To realize real ROI from your cloud investment, you likely will need assistance across your cloud journey. Veritis can help.
How can Veritis help?
Based out in Texas, USA, Veritis focuses on helping clients harness the cloud to stay ahead in the complex digital landscape. With a host of cloud services, from strategy and implementation to migration, modernization, and management, we help organizations drive innovation and transform complex environments into smart digital businesses. Let’s Talk!
More Cloud Computing Stories:
- Cloud Migration Services, Strategy and Integrated Solutions
- Cloud Governance Solutions: Strategy and Benefits
- Lift and Shift Cloud Migration
- 10 Key ‘Security Considerations’ During Cloud Selection and Implementation
- Legacy Application Modernization Services and Solutions