Supply Chain 5.0: More Tech Needed In The New Year

Labor shortages, clogged ports filled with shipping containers and component shortages have combined to slow supply chains and frustrate consumers. As a new year approaches, experts are rethinking how to modernize supply chains. The answer? Technology.

But not just any technology. It must provide transparency, supplier collaboration, real-time data visibility, traceability and orchestration across departments. All aimed to avoid surprises, while anticipating multiple scenarios.  

Supply Chain 5.0: The Next Step Up

Supply chain 5.0 is the next evolution of the supply chain ecosystem. 5.0 improves on version 4.0 by having the machines do more of the work. More than that, the collaboration must be what’s been referred to as the reconciliation between humans and machines. Version 4.0 certainly saw advancements in cutting-edge technology like cloud computing, AI, IoT, and many more.

For version 5.0, there will be heavier reliance on the seamless collaboration between people and machines. This includes an emphasis on hyper-personalization and hyper-customization of customers. As exciting as this future looks, we’re not there… yet. For now, challenges remain that slow supply chains.

Challenges Ahead  

Data Transparency & Accuracy: Data transparency is vital, but remains the most elusive element to access. Data transparency drives critical thinking around supply chain management, which impacts inventory levels, customer fill rates, production quantities and much more. Without the correct data, leadership is often left guessing.

Supply Visibility: According to Laura Cecere, visibility remains elusive, especially on the supplier side. Cecere stated: The problem with supplier visibility is bookended into procurement processes that have gone back, not forward over the last decade. Procurement processes–encumbered by a focus on paperless processing, RFPs/RFQs, and efficient procurement–do not embrace the capabilities and requirements of direct material sourcing.

Scenario Planning: Covid taught us not to wait when planning for changes. Companies need the latest AI/ML technology to assess current situation analysis, planning and ways to pivot. One example of taking control? Amazon. Amazon uses its own shipping containers, long-haul transportation and charter flights to avoid disruptions. Home Depot, Ikea and others are following suit to avoid the shipping logjam and keep supply chains flowing.

Solutions Leading to a 5.0 World

While the technology evolves, solutions are ready right now for supply-chain leaders. Here are some ways our platform helps organizations solve their problems and optimize their supply chains.  

Salesforce Native: ketteQ is the only supply chain management platform built on Salesforce. Deploying this solution adds sales data into your forecasting set—providing an effective way to predict and shape sales demand.

You can synchronize management of supply, inventory, production and delivery, while also enabling:

• comprehensive data collection & validation
• mapping & reconciliation for data orchestration
• alignment & decision-making across the extended enterprise 

Lightning-Fast Data Integration & Visibility: The ketteQ Control Tower provides a real-time, 360-degree view across the extended supply chain. This gives you:

• immediate visibility
• transparency
• reliability & traceability of decision-grade data

This approach creates a connected enterprise, operating on one source of truth.

AI & ML-Powered Scenario Planning: Increase forecast accuracy and drive higher fill rates and revenue. ketteQ’s continual processing, forecasting and performance optimization is powered by always-on AI & ML predictive analytics capabilities. 

Optimize Product & Service Delivery: Leverage advanced analytics, exception management, process automation and coordinated execution. Combining these solutions will help you improve:

• capacity & inventory management
• production scheduling
• order fulfillment
• asset uptime
• service and part delivery

Ready to create immediate value for your supply chain? Unleash the power of data and analytics with ketteQ and Salesforce. Contact ketteQ to explore solutions that will be tailored for your supply chain management.

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