Supply Chain Management: Taking the reins with data
It was fun while it lasted, but it didn’t prepare us properly. Since the introduction of just-in-time logistics by Toyota in the 1970s, manufacturers in nearly every industry have grown accustomed to the near-perfect operation of supply chains with a seemingly infinite supply of raw goods, fast transport, and apparent efficiencies.
Even large companies had no problems managing it all by way of Excel spreadsheets. Meantime, on the consumer side, top e-commerce players like Amazon Prime have led consumers to expect 1-, 2-, or even same-day delivery of their orders.
Everything has changed, due in large part to the COVID pandemic. Our supply chains, which we thought so reliable and resilient, were revealed as the fragile and complex networks that they really are. As COOs and procurement leaders continue to tackle problems as they seek ways to fill their supply chain with goods, CTOs and data scientists are stepping in to help.
I was recently joined by Bryan Frank, Director, Strategy Practice Lead at Kin + Carta, to talk about the present and future of supply chain management with a roundtable to tech leaders. It was a lively discussion with lots of questions, insights, and ideas shared between participants.
Here are some of the key points that emerged: