How Data Integration Is Reimagining Supply Chain Ecosystems
Times have changed post disruption. Today, consumers pay immense attention to a company’s supply chains. They look for companies that offer streamlined, faster supply chain system flows. Companies that aim to improve their customer engagement and lifetime value need to have a robust supply chain ecosystem in place.
A data integration platform has a central role to play in streamlining the functioning of the supply chains. Not only do they help companies establish communication within their supply chains but they also deliver the value promised to customers much sooner.
In this blog post, we’ll take a look at supply chains, their functions, why they can fail, and how modern data integration solutions can make these supply chains more resilient.
A Smoothly Functioning Supply Chain Is a Central Element for All Businesses
After the disruption era, the performance and delivery of businesses that failed to manage or handle their supply chains effectively went down the hill.
Truth is, the supply chains are the veins of organizations through which everything flows, from data to customers to other businesses. When the supply chains are working properly, supply chain managers can relax and get what they need, and when they need it.
However, the supply chains are extremely complex, especially in this business world, which is becoming increasingly global. Also, the products rely on innovative supply chain logistics. If the supply chains fail to work properly, the product flow will suffer — and customer service will be compromised.
Ultimately, supply chain inefficiencies make a negative impact on the company’s bottom line.
A Supply Chain Encompasses Many Moving Parts
Any supply chain functions on coordination between multiple business partners: wholesalers, retailers, warehouses, manufacturers, and transporters. Modern supply chains comprise many tiers. Say, for example, a manufacturer consists of suppliers. These suppliers have their supply chains. The first-tier supplier for a specific component may require procuring it from a second or third-tier supplier. Now, when the supply chains get even bigger, the interactions and coordination between participants are compromised.
A well-constructed supply chain can accelerate revenue generation and lower inventory costs for various participants while delivering the value promised to customers on time. But the communication and coordination demand quick communication and active data flow between all parties.
Currently, global supply chains are the rule – not the exception, and they generate enormous amounts of data. Organizations need to capture this data and analyze it to facilitate effective supply chain management.
Manual Processes and Lack of a Proper Data Integration Solution Introduce Communication Delays
When companies rely on manual processes and legacy data integration solutions, their IT teams need to implement long custom scripts and build extensive data mapping flows to integrate data across different supply chain ecosystems. That takes weeks or sometimes even months of calendar time. During that time, business workers wait to connect with new customers. Conversely, customers are forced to connect with business workers, which, in turn, delays their revenue and value generation processes.
When a modern data integration platform is used, businesses can integrate data quickly, which, in turn, can help companies make informed business decisions that will facilitate improved upstream and downstream supply chain performance.
Connecting Supply Chains Using a Self-service Data Integration Platform
Companies need to rely on reimagined data integration solutions to improve their supply chain performance and drive business. Self-service data integration plays an important role here.
Self-service data integration solutions empower non-technical business users to consolidate data across myriad supply chains much more quickly and accurately. Users can rely on pre-built application connectors, shared templates, dashboards, intuitive screens, and AI-data mapping features to quickly integrate data across supply chains. When users can connect with customers and supply chain vendors quickly, they can improve the real-time visibility of demand, inventory levels, invoicing, payment statuses, and more. At the same time, IT becomes free to focus on other high-value tasks.
Now, when business workers can connect with customers sooner, they can quickly address and meet the needs and requirements of those customers on time. That enables companies to delight customers and improve their satisfaction levels. When that happens, these customers serve as brand evangelists and help companies create new revenue streams.