According to the World Economic Forum, Covid-19’s impact on major economies has already been four times worse than that of the 2008 global financial crisis. So, finding ways to improve performance by working better with data and digital tools will be key to finding efficiencies and maximising your competitive edge.
In March last year, a McKinsey article warned organisations to take urgent action within their supply chains, to build resilience and guard against future shocks. Improved planning, transparency and supplier optimisation were cited as key factors, especially given the complexity challenges of multiple supply chains. Today, we believe that these remain essential issues that need addressing, not just to deal with the constraints of the ongoing pandemic but for the benefit of supply chain health regardless.
To that end, we have identified the Ariba network as a key platform for supply chains to plan and build resilience, while improving transparency and performance. Below we have outlined five challenges where Ariba can help supply chains plan, collaborate and grow.
Managing contract coverage commitments
Ariba enables you to digitise the supply chain and mission-critical business processes, supported across the extended enterprise with one single source of live information.
Forecast procurement spend visibility
Achieve end-to-end forecasting, demand planning, allocation, and execution across the business by bridging the communication gap between sales and marketing, customer service, procurement and supply.
Mitigating risk by optimising working capital
Optimise capital by increasing the transparency of forecasts, supply availability, orders, shipments, quality and goods receipts. This can also reduce latency and lead times. Striking the right buy/move balance Accurate forecasting and planning is key to building a resilient, efficient supply chain capable of withstanding shocks and ensuring continuity of supply.
Making your extended supplier network visible
All complex demand planning, material requirements planning (MRP), and associated changes remain in the companies’ ERP and planning system, but they can be digitally shared with suppliers, live and in real time.
To find out more about how Olivehorse helps customers improve their supply chain or to book a discovery session, please contact Olivehorse at olivehorse.com/contact