While the benefits of digitizing the supply chain are obvious, getting there can be a challenge. Companies are often tempted to start by experimenting with cool new technology in hopes of achieving a scalable change in supply chain costs and service. Taking a structured, business impact-driven approach, however, leads to better, faster results.
At first blush, it seems like blockchain's distributed ledger technology could be the perfect solution to many of the supply chain's problems. But before companies can reap the benefits of this exciting new technology, they must be thoughtful about where to apply it and how to overcome a few key stumbling blocks.
Unused-asset write-offs are an unintended consequence of improvements to the supply chain. By following a defined, rule-based process, it is possible to improve internal reuse of unused assets and thereby lower the costs associated with write-offs and the purchase of new equipment.
This excerpt from the new book Customer-Driven Disruption explains four steps companies can take to react quickly to changing customer preferences and deliver their products or services with little to no disruptions.
Recently honored with CSCMP's prestigious Distinguished Service Award, Kathy Wengel—Johnson & Johnson's top supply chain executive—has dedicated her career to building diverse teams that create world-class supply chains.