July 19, 2022

Supply Chain Trends and Best Practices

Check out the top five supply chain trends and best practices for supply chain leaders to consider as they strengthen their systems.


Supply Chain Trends & Best Practices 

From demand tanking during the pandemic to demand going up and supplies getting depleting due to inflation fears, the supply chain industry has been going through a rollercoaster of changes. 

Sky-high eCommerce demands, a global pandemic, and shipping bottlenecks across the globe have caused the supply chain industry to suffer immeasurable setbacks. 

Most companies were forced to digitize customer-facing interactions, but not many took the initiative to digitize their supply chain. The ones that did and managed their supply chains proactively continued to outrun their competition. While all of the aforementioned challenges did create pause for many industry leaders, those who prepared experienced limited impact. Many supply chain leaders began to pivot their business model to include advanced technology long before the pandemic hit. This early adoption of a digital supply chain laid the foundation for continued success despite unprecedented times. 

Increased visibility, collaboration, and orchestration should all be top priorities for supply chain executives moving forward. Being successful in the future requires you to plan now. 

As we enter the second half of 2022, leaders should focus on supply chain best practices to build a resilient supply chain that can withstand whatever comes next. 

Supply Chain Trends And Best Practices

Here are the top five trends and best practices for supply chain leaders to consider as they strengthen their systems. 

  1. Supply Chain Transformation Needs Executive Support

Supply chain strategies and management should have a seat at the proverbial table. Gone are the days when a supply chain was a linear, self-maintaining system whose only job was cost management. Today’s supply chain is complex and requires a detailed strategy warranting the support and input of the company's upper management. 

With TADA’s Control Towers, leaders have a dashboard where they can view the high-level strategy and activities of their entire supply chain from their computer or smartphone at any time. TADA works with current supply chain teams by conducting a discovery exercise to determine unmet needs and offer solutions to enhance the overall supply chain performance while providing real-time end-to-end visibility.

  1. Leverage New Technology and Data

Just because something has been working doesn't mean it works well. Current technology offers real-time data, which is invaluable for future planning. Legacy technology should be phased out in favor of purpose-built technology that prioritizes real-time data. Supply chain systems are all different and have individualized needs. A one size fits all approach is outdated and ineffective. Learning what your supply chain’s individual needs are in real-time can help mitigate any problems and continuously meet tight deadlines.

TADA’s Digital Duplicate® technology creates visibility across your entire supply chain. The technology duplicates all data from your existing systems into one platform to weave together a full picture of your end-to-end supply chain. Using a single dashboard, anyone with permission can view all activities across the supply chain to ensure that things are running on time and as planned. 

  1. Modernize Processes

Digital supply chains are highly efficient and provide end-to-end visibility. Taking the right steps to digitize your supply chain will help position you for future success. 

Historically departments and supply chain activities operated independently with their own software, which was not visible to everyone. Our Control Towers enable everyone involved in the supply chain process to view the same data in real-time. This includes: 

  • Collaborative Information Sharing: Consolidating your technologies into one nerve center gives you the tools and resources to generate meaningful data. In turn, the data-driven insights gained by these tools (combined with advanced analytics) help tear down isolated teams and functions, giving every team a singular source for accurate insights into supply chain operations. 
  •  End-to-End Visibility: Most companies deal with a clunky tech infrastructure packed with point solutions, various cloud-based platforms, and spreadsheet-driven processes. TADA’s Control Towers eliminate those cumbersome spreadsheets and mend together your tech stack to provide a single source of visibility, allowing for quick identification and resolution of exceptions. 
  • Increased Productivity: Companies need to solve real problems in real-time. Machine learning and advanced analytics help you digest supply chain exceptions and solve them using best practices and processes. 
  • Predictive Support: One of the primary advantages of machine learning is its ability to predict problems before they happen. TADA Control Towers gives you an edge on future issues and help you reign in existing headaches with self-correcting logic and robust predictive support mechanisms. 
  • Smart Alerts: TADA's Control Towers act as a decision accelerant. When an issue occurs, the technology ensures the right people receive the right alerts. Even better, these alerts come with prescriptive and predictive insights to inform and guide decision-making.

  1. Stay Agile

Supply chain agility is crucial in our ever-changing world. Having visibility across the supply chain can help businesses move fast and stay ahead of the curve. 

End-to-end visibility provides a competitive advantage. With TADA’s Control Towers, you will have an enhanced level of detail to help you stay agile. Providing a central location for all suppliers to safely share information allows for real-time troubleshooting. Having insight into the status of parts by all suppliers means pivoting on the spot when necessary. If parts from a specific vendor are scheduled to hold up an order, this can be seen through the TADA software, and a plan can be made to redirect before it becomes an issue. In short, our Control Towers allow your supply chain to stay agile through real-time visibility and full-spectrum collaboration.

  1. Embrace Sustainability

The pressures put on supply chains over the past few years have forced many leaders to rethink their strategies. In addition to the shipping frustrations, tariffs, and shortages – fueled by the pandemic – many leaders are looking at a more sustainable and green future. Small steps towards reducing carbon footprints have a big impact on the globe. 

There is a trend of supply chains becoming more local, preferring nearshore tactics instead of offshore for both logistical and sustainability reasons. TADA’s Logistics Control Tower helps to bolster profit margins in addition to increasing a supply chain's sustainability by favoring local or nearshore partners. Additionally, TADA’s Procurement Control Tower allows you to drill down and search for sustainable suppliers that meet environmental guidelines, including GHG emission, waste and recycling, and energy and water usage. This level of detail empowers supply chains to move towards a greener process and become more sustainable.

Start Embracing Supply Chain Best Practices with TADA

Supply chains have had a tough run these past few years, but that is changing. No longer a delicate ecosystem lacking control and visibility, the supply chains of today are strong, transparent, and collaborative. Still dependent on each activity, the supply chains of today work as a cohesive unit with support and visibility from end to end. 

TADA’s Digital Twin technology is solution-packed software connecting your entire supply chain and all of your data, internal and external, to give you control of your supply chain. In a matter of weeks, TADA can be implemented over your current software, tying together all departments and activities into one convenient dashboard. Improve collaboration across departments and activities and achieve complete orchestration of your entire supply chain with TADA's Digital Duplicate®. By providing real-time data insights, you can be sure that the right people have what they need in a timely manner. 

Are you ready to harness the technology trends that will lead to supply chain excellence? For more information, request a custom demo today.