What is Supply chain 4.0 & How to implement
Place sensors in everything, create networks everywhere, automate everything, and analyse everything to significantly improve performance and customer satisfaction. supply Chain 4.0 – the application of the Internet of Things, advanced robotics, and advanced analytics of big data in supply chain management: place sensors in everything, create networks everywhere, automate everything, and analyse everything to significantly improve performance and customer satisfaction.
Supply chain 4.0 — Ok , These days it has different Terms also – Supply chain 4.0, Smart Supply chain , Next Generation Supply chain.
What is meaning of this Supply chain 4.0 – An Integration of Supply chain Flow with latest technology like Internet of things,Cyber physical stems, & Advance Data driven technology powered by Artificial Intelligence & and other Emerging technology.
We always know this improving supply chains will ultimately improve sales.Because the impact was very difficult to evaluate, companies traditionally approved investments in supply chains based only on the expected reductions in costs and working capital. The digitalisation of supply chains, with the breadth of sales and ordering data available, now makes it possible to calculate by how much supply chain improvements are increasing sales and profits,
Supply chain 4.0 – Works on PLAN,DO,ACT ,CHECK. In Supply chain 4.0 Planning cycles are interlinked & it can be viewed 360 degree.If we talk about manufacturing planning today 60% of manufacturer depend on digital platforms to plan their production. and it save about 30% of overall revenue.
We can say that supply chain 4.0 is upgraded version of supply chain which eliminates disruptive forces of supply chain and tend towards achieving business goals.
Companies which still operate under traditional approach put their buisness in risky mode.Disruptive forces and ever changing customer expectation is really changing every day and its touching every point of buisness.
BASICS TO IMPLEMENT SUPPLY CHAIN 4.0 :-
– 1- Real time data to sync Supply & Demand – If we have to lay foundation of digital supply chain Business intelligence using artificial intelligence ,machine learning, asset tracking & Social medial analytics intelligence can be used to produce accurate,Statics base demand forecast that leverage current historical and external information. A cloud based dashboard can provide 360 degree visibility ,traceability and real time data related to supply & demand.
2- Implement 4.0 supplier alliance Partner ship program – For Success of Supply chain 4.0. the model need to shift from static command and control to dynamic real time partner ship between organisation and partners.Supply chain 4.0 will need to be an integrated system resulting to win -win platform for both .Using supplier certificate program, blanket PO,& cloud based technology & Blockchain an organisation can ensure better quality efficiency, transparency,& On time delivery with minimal risk.
3- Customising supply chain according to buisness requirement – Developing a new supply chain model that works towards a digital supply chain. It begins with identifying the blocks of supply chain 4.0 and closing those blocks to create a susitanbale model. The final idea is to achieve goal that can be done from a tactical planning.
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