Modern technology is needed to achieve modern outcomes, and this rings especially true for supply chains. Globally, many supply chains still rely on outdated technology and processes that have hindered their ability to deliver products to end customers on time. But those that will succeed in the future are the ones that get started on several foundational elements now.
Don’t let traditional technologies hold you back
Research published in 2022 by McKinsey reveals the severity of the situation. The consulting firm found that nearly three-quarters of supply-chain functions rely on spreadsheets and that “more than half use SAP Advanced Planning and Optimization (APO), a popular but antiquated supply-chain-planning application that SAP introduced in 1998.”
Simply put, it’s not easy for supply chains to move over from these traditional technologies. After all, as McKinsey noted, companies “hang onto older systems because of the time and money needed to replace them, even if upgrades would bring substantial benefits.” But the longer supply chain stakeholders rely on outdated systems, the more risks they expose themselves to.
Start future proofing your supply chain now
Beyond implementing new technologies and providing employees with the support they need to successfully utilize them, there are other measures supply chain leaders can take to future proof their supply chains. Learn more about characteristics that are woven into the very DNA of ecosystems likely to be successful in the future by reading the full article, as originally published in Forbes.