McKinsey & Company in 2015 reported that 80% of the goods (compared to 20% today) would be manufactured in a country different from where they would be consumed. In 2020, this prediction has proven to be accurate. There are lots of global events that have impacted supply chains in 2019 through 2020.
Nationalization and COVID-19 are stretching supply chains to their limits and companies who have flexible supply chains are quickly reacting to the new global landscape. Without robust systems and processes it is impossible to react to the daily changes in national policies. Supply chain orchestration is a key enabler to an agile, flexible supply chain and can provide a competitive edge vs your competition. At the heart of supply chain orchestration lies the control tower platform.
Importance of Supply Chain Control Tower
A supply chain orchestration platform is a digital ecosystem that unifies a company’s plethora of IT systems and creates a single source of truth that enables collaboration between manufacturers, distributors and any other trading partner in the extended supply chain. By providing everyone in the ecosystem with actionable intelligence through accurate, clean, real time data the entire supply chain becomes more responsive while eliminating redundancies and improving cost efficiencies. This is accomplished through the supply chain control tower.