It’s no surprise that a primary focus for commerce companies in 2023 has been building a more resilient supply chain. They have, after all, been dealt blow after blow these past few years as a series of equally unpredictable and devastating events turned their supply chain strategies upside down. In fact, according to Anvyl’s Supply Chain Outlook 2023, a survey of 400+ SMB owners and C-suite level executives across industries including retail and ecommerce, these disruptions have cost 60% of businesses up to 15% or more of their revenue!
As we continue to educate merchants on the dangers of an inefficient supply chain on their financial health, one resource we’ve been tapping into is Shopify’s Commerce Trends 2023 report. We’ve been particularly focused on the report’s interpretation of this supply chain crisis and its tips for brands to overcome unreliable supply chains.
Having already dug into the value of diversifying product sourcing, we’ll now take a closer look at another tip offered by Shopify for brands looking to boost their supply chain resilience. And it’s one we’re especially passionate about: digitization. As the ecommerce platform puts it, the more volatile global supply chains are, the faster brands must respond. Leveraging a digital supply chain makes this possible and allows supply chain managers to achieve much more than when they rely on manual and outdated processes.
Examples of digitization that Shopify offers include using scanning apps or inventory management software (IMS), or relying on machine learning and artificial intelligence (AI)– based solutions to do everything from load pooling to dynamic rerouting. In our opinion, though, it takes much more than this to reap the benefits of a digital supply chain. In this blog, we’ll explore the true meaning of digitization, and take a look at how Anvyl helps commerce brands utilize the power of digitization to build a hardy supply chain.
The DNA of a Modern Supply Chain
At Anvyl, we’re all about digitizing and modernizing your entire supply chain strategy, from purchase order (PO) issuance through to its delivery to your warehouse. In other words, we firmly believe that a truly digital supply chain isn’t one that merely scans apps or uses an IMS. Rather, it optimizes the first mile in one single location, bridging the gap between global supply chain teams, systems, and suppliers.
There are three assets, in particular, that make up a digital supply chain. These are:
1. Real-time access to critical information
Real-time information is the only way organizations can gain a reliable picture of global supply chain conditions in an otherwise unpredictable landscape. This is why data has long been a source of competitive advantage for organizations. Leveraging it helps businesses monitor performance in real-time – whether it be tracking orders and deliveries or managing inventory. It’s the key to being able to get ahead of disruptions that could disrupt your business and hurt your bottom line.
As teams and technologies communicate with the help of Anvyl, real-time access to critical information is released as it happens, drastically improving visibility across the network and allowing for quicker, more informed decision making. In addition, Anvyl brands have a central repository to manage messages, comments, files, and artwork across the entire team.
Even more important than having access to data is turning it into actionable intelligence. With an added layer of intelligence, powered by Anvyl’s proprietary AI and ML technology, supply chain teams can harness the power of their own data to surface key insights and trends. This allows them to report and share data seamlessly to make smarter decisions, know when to take action, and predict delays and lead times with greater accuracy.
Embracing digitization also means getting rid of organizations’ reliance on disparate and manual supply chain processes. Automation liberates brands from those painstaking, time-consuming, and cumbersome tasks that steal too many hours from their day.
Through powerful automations, Anvyl maximizes efficiencies and reduces human error by doing the work of automating manual tasks and redundant processes. It is built to seamlessly incorporate changes, delays, and updates along the way to allow teams to intelligently transition through order milestones. With integrations with existing systems (like ERP or IMS), brands can use automations to keep not only their teams and suppliers up to date but also their existing tech stack.
Anvyl also automates 40+ touchpoints to save time and improve accuracy across the PO process.
To learn more about Anvyl’s mission to bring intelligent and connected supply chains to customers around the world, contact us today!
Check back in soon as we break down our last Shopify tip for boosting your supply chain strategy: digitizing your supply chain with Shopify APIs and automations.