One of COVID-19’s dubious accomplishments is disrupting the global supply chain. There are some obvious effects to this disruption: factories have been shut down, goods aren’t making it to customers on time, and companies are struggling to meet customer demand.
However, there’s one other effect of a more positive nature: firms are finally realizing that it’s time to shift to a digital supply chain.
There’s no better time than now to make a business case for a digital supply chain. Read on to learn how to appeal to decision-makers to transform the way you do business.
Lay the Groundwork
Before you launch into a set of arguments in support of a digital supply chain, you want to do a bit of homework.
First, define your terms; not everyone understands what modern B2B integration is, let alone the critical role it plays in a digital supply chain. Explain what a digital supply chain is. Be clear about the benefits you’ll gain from it, and make sure those benefits are relevant to your industry and company. Moreover, figure out what your company’s needs are so that you can suggest the best possible solution.
What Are Your Arguments?
There are four arguments for moving to a digital supply chain:
- Improved supply chain management
- Greater efficiency
- Cost savings
Improved Supply Chain Management
One of the benefits of a digital supply chain is that it leads to improved supply chain management. With modern B2B integration solutions, you have greater visibility into your supply chain.
Modern B2B integration solutions bring various streams of information together so they’re visible in one place. With modern B2B integration solutions, you can see what your inventory looks like, when your shipments should be coming, and what your order statuses are.
Another benefit of a digital supply chain is greater efficiency. A digital supply chain eliminates manual processes, which saves time and money.
There’s no more manual data entry, which means no more mistakes. Mistakes waste time (and money); fewer mistakes means more time focusing on your core business.
The third advantage of a digital supply chain is cost savings. Manual processes come with a high rate of errors. However, even if manual processes are carried out accurately, they’re still expensive.
A Forrester study shows that the median cost for manually creating a single invoice is $12.35. On the other hand, digital invoices cost mere pennies.
The final benefit of moving to a digital supply chain is that it’s more sustainable. The companies that are succeeding right now are the ones that already had a digital supply chain in place. Unfortunately, COVID-19 will not be the last disaster that disrupts global supply chains, but taking steps to prepare yourself now puts you in a better position to handle the next catastrophe.
Check out our free downloadable PowerPoint presentation on making the business case to the C-suite.