How to Build Business Value with a Digital Supply Chain

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Revolutionize the Process

Where the real value of digitization lies is in enabling new processes that drive more collaborative, intelligent and transparent ways of operating. Supply chain management isn't a set of discrete tasks performed in silos, but a connected one carried out across many functions and geographies. And the key to executing it well is in connecting multiple parties and systems using a common platform that supports the entire source-to-settle process and provides a gateway for collaboration both within and beyond the enterprise on a global scale.

Every day, billions of consumers around the world use social networks to manage their personal connections – to shop, share and consume. Why? Because they make things easy. The same is true of business networks, which provide a single platform from which companies can manage their customers, partners, people and money – and collaborate around key business processes, from finance and procurement to sales, marketing and IT.

With a few clicks, you can shop for the goods and services you need to run your business, order and have them shipped. When it comes to payments, you can kill the paper checks and transfer the funds electronically. Or you can review your receivables and decide whether you want to offer a discount in return for early payment.

You can view and manage your spend across all major categories and find opportunities for savings. You can manage your entire workforce – temporary and full-time employees alike – and empower them to do their jobs anywhere, anytime, from any device. And you can engage your customers across multiple channels and create personalized experiences along every step of their journey that delight and keep them loyal.

The world today is a different place. There are officially more mobile devices than people. And with increasing frequency, we use these devices to manage our lives, to shop, to pay for things, to find restaurants and hail cabs, and to network with our friends and family. Many of these same technologies are now making their way into the enterprise – transforming the way we work. Business networks, for instance, are changing the way we discover, connect and collaborate with our trading partners. The supply chain is, in essence, becoming more digital.

And this is not only driving greater agility, efficiency and innovation, but creating business advantage for companies that are on board with the trend. In fact, research shows that companies who have embraced the digital world and execute digital strategies are seeing real shareholder and stakeholder value. Value creation is significant, with +9 percent revenue creation, +26 percent impact to profitability, and +12 percent market valuation.

In this slideshow, Ariba, a SAP Company, has identified five tips to help you enable a digital supply chain and create value for your business.

 

Related Topics : Vulnerabilities and Patches, Resellers, Broadcom, Broadband Services, Supercomputing

 
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