Digital transformation is strengthening the supply chain

Many businesses are currently coping with an unavoidable global supply chain slowdown. The bottlenecks in the availability and movement of assets, products, and goods are causing businesses to reevaluate the way they monitor their supply chain dependencies. Technologies such as Internet of Things (IoT) solutions promise to improve managers’ abilities to monitor critical aspects of the supply chain – and that is just the beginning of what IoT can do for businesses. To discover how managers are using technology to overcome challenges, we conducted a survey with the help of Worldwide Business Research and shared the results in a new white paper titled “The Next Generation Supply Chain.” The data can help your business plan its own digital transformation journey and deal with hiccups such as supply chain slowdown. Here are a few highlights:

• 71% currently use IoT technologies as part of their manufacturing, logistics, or supply chain processes. Among this group, 52% use IoT for safety and compliance monitoring, and 41% use IoT for asset condition monitoring.
• Among the 29% who do not use IoT technologies or solutions as part of their manufacturing, logistics, or supply chain processes, 47% claim difficulties integrating with legacy systems is among the challenges preventing them from rolling out an IoT capability in their supply chains.
• 34% say integrating new technologies with legacy systems and 24% say demonstrating a business case are aspects of their businesses they struggle with when adopting digital solutions.
• 16% rate their companies’ current visibility into suppliers as “excellent,” while 58% rate it as “good.”

Blockchain emerges as a viable supply chain strategy

In addition to IoT, businesses are turning to blockchain as a way to keep track of assets with the aid of a decentralized ledger. As goods move from one point to another, blockchain network nodes can quickly identify discrepancies and help identify problems. Blockchain is also very secure, protecting the process from hackers and fraudulent activities.

Why AT&T Business?

AT&T Business can work with your business to implement IoT, blockchain, machine learning, and artificial intelligence solutions to reduce asset loses and increase efficiencies. Here are a few recommendations to get you started on the path to adopting digital supply chain solutions:

• Implement IoT technologies as part of your manufacturing, logistics, or supply chain processes.
• When searching for new technology providers, focus on providers that can assist you with legacy integrations.
• Work with your supply partners and stakeholders to obtain buy-in for deployments of blockchain.
• If you haven’t already, consider moving your company and your supply partners onto a single platform framework to give every party visibility into the supply chain.

Read the Next Generation Supply Chain Whitepaper.