Sustainability to Survivability the Supply Chain post COVID-19 Q3
A: Marcus Langford, Managing Director, Coliance
As an investor, I would be looking for technologies that were going to give returns in the medium to long term. There is trade-off between time and cost to implement a solution and the benefits that will accrue in the life of the solution. Given these factors I would boil it down to a single capability, agility – The agility to forecast and react.
Intelligent Inventory insight provides that capability. In any supply chain, your ability to minimise your holdings, reduce wastage and react fastest to shocks in the system has never been more important. Modern inventory systems combine feeds from your key supply systems such as Order, Transport and Warehouse management systems and combine this with Artificial intelligence to provide predictions and analysis in real-time. Organisations that have known not just what is in their distribution centres, but also what is held in their stores and concessions and then combined that information with transportation costs and replenishment information are the ones who have shown an agility in the current climate which will probably be the difference between survival and extinction.