Challenges in the Supply Chain Industry
In a typical supply chain, raw materials and parts are obtained, planned, and manufactured; demand is estimated; distribution networks and logistics are set up; and customers get order information. However, today, every important human and material component is either scarce or prohibitively expensive, causing complications and shortages. This scarcity requires implementing contemporary supply chain management. In the past two years, ships have been late at ports and shipments delayed globally and multiple constraints have slowed exports, undermining domestic supply networks. As demand rises, innovative technology solutions and process transformations are needed. Many supply chains have been slow to adapt, and many lack the simplest physical capabilities to compete today, let alone the ability to develop, test, launch, and scale digital innovation.
Harnessing the Emerging Technologies
Most supply chain leaders consider digital as crucial, but only half have established or plan to develop a digital transformation strategy. Business and supply chain strategy must align for a supply chain digital transformation to improve growth, decrease risk, and cut costs. Embedded sensors, GPS, RFIDs, AI, and hyperautomation have enabled organisations modernise their outmoded, inflexible, rigid, and siloed supply chain systems into more fluid, adaptable, open, and collaborative digital ones. First step in using digital technologies in the supply chain to increase business performance is creating a digital transformation road map. Digital transformation increases organisational agility, business process automation, and supply chain innovation.
Contract Documentation Process using Automation
A supply chain client had to manually input the MIS sheet with information from several sources to generate contracts. Then, emails were sent to request papers, validate them, and construct MS Dynamics contracts. This technique was error-prone due to MIS Sheet data duplications.10xDS developed and deployed an Intelligent Automation solution to import email content into management information systems (MIS) and Microsoft Dynamics (MS) Dynamics. BOTs double-check information to reduce human errors. Automation enhanced output accuracy by 99% and reduced processing time.
Sales Trends and Forecast using Analytics
Client needed a holistic perspective of business performance. PoS reports lacked performance indicators. Executives desired better sales visibility and KPI tracking. Our analytics solution reads their daily PoS data. The solution cleansed and translated data to aggregate KPIs. The system combined data with social media, weather, and local holidays to evaluate sales trends and brand sentiment. Our solution included a PowerBI dashboard to display KPIs. Client may optimise budgeting and sales planning to boost sales performance with better KPIs and indicators. KPI visibility improves sales projections.
Customer Analytics Solution
The client had just one promotion for their entire consumer base, and it didn’t generate sales. Customized promotions were difficult without client segmentation. No customer-specific scoring technique existed. The sales crew lacked information on consumer spending and visit trends to focus promotions and enhance conversions. 10xDS Analytics Team created a customer segmentation module based on RFM (recency, frequency, monetary) model, customer propensity model, and Customer Lifetime Value (CLV) based on prior purchases (historical CLV). Promotional products tripled sales. Customer buying habits helped the company stock up. Frequent buyers received prizes to improve their shopping.