The landscapes of work and business have changed vastly in the past few years. The COVID-19 pandemic sparked new remote work trends, which in turn have led to the speedy development of cutting-edge digital collaboration tools. These trends and technologies have transformed nearly every industry and sector, and the supply chain is no different. What this means is that there are new, advanced supply chain management tools, which allow businesses to improve efficiency, resilience, and innovation.
In this post we’ll discuss exactly how remote work and digital collaboration tools are unlocking new potential in the world of supply chain management.
The Post-COVID Shift to Remote Work & Digital Collaboration in the Supply Chain
The COVID-19 pandemic sent shockwaves around the world, and had a massive impact on the global supply chain, both for consumers and for businesses in this space. Research has found that many logistics industry professionals faced direct disruptions from the pandemic, as trade slowed. But it wasn’t just trade routes that were impacted: employees across the globe were sent home from their offices, to work remotely. Studies show that prior to the pandemic, less than 6% of Americans worked from home, a number that more than tripled two years later.
Businesses across all industries had to adapt to this new way of working, even ones that were previously ill-equipped to handle a remote workforce. While some existing tools were adequate for remote work (like tools for video chatting and messaging), there were certainly many gaps, especially when it came to digital collaboration tools for the supply chain industry itself.
Suddenly, took which needed which could address:
- Communication barriers: Remote teams need seamless, omnichannel communication, and tools support real-time messaging, with features such as channels, projects, voice notes, and video calling.
- Data accessibility and security: Data protocols change drastically with remote work. Instead of being able to access data locally, remote workers required secure ways to organize and access all of the data necessary for their roles, from wherever they’re located.
- Collaboration difficulties: When employees work in an office, they can meet for in-person meetings and walk over to each other’s desk to have a chat. With remote work, it can be difficult to facilitate smooth collaboration, especially when working on the same project simultaneously.
The good news? The pandemic and work-from-home trends ushered in a new wave of technology, specifically designed to solve these issues, and support businesses in the supply chain with a remote workforce.
The Role of Digital Collaboration Tools in Supply Chain Management
Today, on the heels of the pandemic and a new era of remote work, there are many next-generation digital collaboration tools available, and they support different aspects of the supply chain management process. For example, common types of tools available today include:
- Communication and collaboration platforms: These tools have become essential for real-time communication among supply chain teams. They facilitate things such as instant messaging, video conferencing, and file sharing, enabling seamless collaboration across geographical boundaries.
- Project management tools: Project management tools are critical for organizing and tracking supply chain initiatives. They provide a centralized location for things such as task assignment, deadline monitoring, and progress updates. By offering a clear overview of project timelines and ownership, they can improve efficiency and accountability.
- Supply chain management software: Specialized supply chain management software has undergone significant advancements in the era of remote work. It serves as the backbone of modern supply chain operations, and is highly sophisticated. A robust supply chain management suite includes features such as inventory management, order fulfillment, transportation management, demand forecasting, and supplier performance management. By consolidating data and processes into a single platform, this software can enhance decision-making, reduce costs, and improve overall supply chain efficiency.
- Data analytics and visualization: Accurate, clear data is central to supply chain success. Today’s advanced supply chain and inventory analysis tools don’t just supply you with real-time insights into what’s happening in your business and warehouses: they also include user-friendly dashboards for clear takeaways, and can provide you with valuable demand forecasts. Some supply chain planning suites include data analytics and visualization features.
Best Practices for Updating Your Supply Chain Tech Stack
While there’s an array of new digital collaboration tools available to support your remote supply chain management operations in 2024, actually deploying these new tools in your organization might seem daunting. Here are some best practices to help you adopt and launch new digital collaboration tools in your inventory based business:
1. Start with a thorough assessment
Before choosing new supply chain technology, start with an audit of your current systems and processes. Where do your current systems fall short, what features do you like, and what capabilities do you wish you had? Also, research the options available, and see where there’s existing technology that can help with your needs. Would your business benefit from more real-time functionalities? What about more precise demand forecasts?
2. Consider technology specific to the supply chain
While there are many tools to support remote organizations in general, remember there are also certain tools which are specific to supply chain organizations. These tools don’t just include broad project management features, but also support efforts such as replenishment planning, promotion planning, and inventory analysis.
3. Choose tools which integrate with your ERP
Your supply chain planning technology should seamlessly integrate with your enterprise resource planning (ERP) solution to holistically support your business. The top supply chain planning tools should support integrations with ERPs such as D365 Business Central/ NAV, Dynamics GP, Oracle Netsuite, Acumatica, and more.
4. Get support during implementation
Your digital supply chain tools should provide you with robust support during implementation to ensure a streamlined process designed to maximize results. Implementation support might include thorough prevalidation, checks, setup assistance, and a personalized approach.
The COVID-19 pandemic might be in the past, but it left a lasting impact on the entire supply chain management industry. By taking advantage of the new digital collaboration tools available, inventory-based businesses can support remote, asynchronized work with access to powerful forecasts, smooth collaboration, and advanced data and analytics.
StockIQ: Your Supply Chain’s Remote Partner
If you’re eager to support your supply chain efforts with powerful supply chain management software, then we should talk. StockIQ is a user-friendly supply chain planning suite that allows you to control inventory, simplify ordering, and improve forecasting. StockIQ unlocks the power of streamlined supply chain management by boosting operational efficiency, improving forecast accuracy, and simplifying strategic planning.
Find out how StockIQ can enhance the way you approach supply chain management by contacting us today, or requesting a StockIQ demo.
