Top 10 Benefits to Digitizing Your Supply Chain

Digitizing your business is fast becoming essential to keep up with competitors and stay relevant in this digital world. The recent global pandemic has also fast-tracked this transition into a digital age. A digital business is often more efficient and more profitable than its manual counterpart, bringing better results and higher customer satisfaction. Without digital adaptation, it is quite possible that a business may become obsolete in the future. This digital adaptation can be broken down into two key areas:

Digitization: The conversion of paper documents into a digital format

Digitalization: The conversion of manual processes into a digital format

Digital Adaptation with M2X

At M2X, our mission is to provide a cloud-based Transport Management System (TMS) for carriers and enterprises to digitize, centralize and optimize logistics and transport within the supply chain, increase efficiency, and reduce costs and carbon emissions. We have created a digital ecosystem where information can be shared easily between corporates, carriers, shippers and customers. This data can range from real-time status updates of shipments, accurate geocoded locations, hazards, customer contacts, payments and more. Our clients can then access, report on and analyze this data quickly and easily, in order to guide business decisions.

Top 10 Benefits of Digitizing your Supply Chain:

1. Visibility: A digital supply chain enables your jobs, invoices and records (both past and present) to be found easily by all relevant stakeholders including dispatchers, drivers, customers, plant staff, and more.  This visibility reduces the need for paperwork and duplication, as well as removing the risk of administrative errors going unnoticed.
   
   
2. Consistency: A digital system allows for greater consistency throughout the supply chain. It ensures dependable outputs, as all processes are carried out in the same way and reduces the chance of human error. Your customers and supply chain partners expect the same high level of service and consistency, digitizing the workflows ensures this occurs.
   
   
3. Shared knowledge: A digitized system reduces the reliance on institutionalized knowledge, meaning your business is better equipped to handle staff absences or staff turnover. The Covid 19 pandemic highlighted the need for all businesses, but particularly organizations within the supply chain, to have sufficient contingency and knowledge to cover all eventualities.
   
   
4. Efficiency: A digitized business reduces the time taken for manual and repetitive tasks. You can run multiple processes at once, instead of only one by one, and you can utilize your staff's time for more innovative initiatives, instead of carrying out monotonous duties. Finding experienced and qualified staff is highlighted as one of the greatest risks to supply chain and logistics businesses, this can be reduced by ensuring you are using your team effectively.
   
   
5. Cost-reduction: A digital system that allows for fleet optimization can reduce the total distance travelled, reducing fuel costs and vehicle wear and tear. Automation of key processes will also allow you more time to focus on growing your business.
   
   
6. Reduced admin burden: Digitized documentation is able to be copied or replicated easily, so repetitive administration processes can be streamlined. All information is stored in the cloud and is easily accessible no matter your location; with many staff now having a hybrid work base this is a key requirement.
   
   
7. Environmental impact: A paperless digitized system is more eco-friendly. Optimized routes and reduced fuel consumption will contribute to a lower carbon footprint. With a digitized supply chain this information can be digitally shared with your customers and partners, allowing them to easily report against their environmental goals.
   
   
8. Increased customer satisfaction: Improved tracking and supplying up to date delivery information will lead to higher customer satisfaction levels, and more repeat business. Ensuring your customers can select how and when they would like to receive status information and updates is a crucial functionality of "best in class" transport management systems. Reduced errors in the administrative processes remove significant frustration points and ensure exceptional customer experiences.
   
   
9. Forecasting: Real-time, accurate data can be collected, providing you with end-to-end workflow visibility. This data can be analyzed quickly and easily in order to provide insights and guide business decisions or resolve issues as they arise.
   
   
10. Scalability and flexibility: Digital systems can easily adapt to changes in demand, allowing your business to scale up or down quickly and easily as required. This is particularly important for supply chains that are required to flex with seasonal change or weather conditions.

‍

‍The Future of the Supply Chain

Digitizing your business can be a big undertaking, but is quickly becoming a necessity. With the introduction and evolution of Artificial Intelligence (AI) around the globe, a manual business simply will not be able to adapt and react fast enough to the changing environment.

Areas where the supply chain is likely to continue to evolve include:

• Route optimization and dynamic scheduling, taking into account real-time traffic, weather, and road closures, impacting delivery times and fuel consumption
• Autonomous or alternative transport options e.g. self-driving vehicles or drones, enhancing efficiency and safety and reducing labor cost and fuel consumption
• Eco-friendly focus and sustainability initiatives including renewable energy sources and alternative fuels
• Data analytics powered by AI that can provide extensive insights into operations to inform decision making
• Customer experience, with the implementation of chatbots or virtual assistants to supply real-time communication updates
  ‍

M2X is dedicated to future-proofing transportation across many industries including livestock, general freight, bulk, dairy and fuels. We are committed to providing our customers with the tools they need to digitize and optimize their workflows across the entire supply chain, and to make the transition to a digital business as seamless as possible.