The unprecedented events and resulting disruptions of this year have had a significant impact on the transformation of supply chains. By combining operational changes with supply chain developments, your business can enjoy substantial performance improvements. Below are some examples of how big companies have handled recent events to drive operational efficiencies and customer-centricity. How will your supply chain look in 2021?
12th November, 2020
Innovation and flexible business models are more important than ever. Given this year’s disruption due to COVID-19, political events and trade pressures, businesses must rethink the status quo. Rethinking strategies means restructuring logistics and strengthening supply chains, but where do you start? We’ve gathered in this article how big corporations have transformed their business:
Even though these examples might not be 100% applicable to your small or medium-sized business, you might consider the strategies helpful in giving you inspiration for your business. This is especially if you have concerns about how to deliver your cargo in these unprecedented times.
Growing your supply chain by more than 3% by digitalizing it
Take learnings from this situation and try to think in creative ways. One specific example is the digitalization of your supply chain. According to McKinsey3, the average supply chain nowadays has a digitalization level of 43%. There is still room for improvement – especially when looking at the potential business growth stemming from digitalizing the supply chain. Current predictions indicate that annual growth of earnings before interest and taxes could grow up to 3.2% and a yearly growth revenue by 2.3%. Additionally, digitalization brings you more flexibility and risk mitigation for your supply chain transformation.
Examples for the digitalization of supply chains are technologies that use techniques such as linking and combining cross-functional data. This includes shipments and schedules as well as Enterprise Resource Planning systems (ERP systems), warehouse-management or forecasting demand and performance with advanced analytics.
At Twill we are here for you and your business. We provide you transparency on costs and a loading guarantee. This means an intuitive platform where you can book and ship with ease. And with the help of our platform, you can easily digitalize your logistics in a few steps.
Are you ready to start shipping with Twill?