COMMENT
Get ready: Digital transformation is happening now
their infrastructure and adapt to new ways of working, they will get left behind and it could be detrimental to your business. To quote John Chambers, CEO and founder of JC2
I
Ventures and former CEO of Cisco; “At least 40% of all businesses will die in the next 10 years... if they don’t figure out how to change their entire company to accommodate new technologies,” claiming if you don’t figure out how to change your whole business to adapt and implement cloud/mobile and internet of things (IoT) you will face extinction and the best leaders are creating a “digital agenda” for their companies and evaluating how technology can be used to improve and change every aspect of their business before their competitors. Nearly half of all supply chain leaders have dramatically accelerated spending on digital technologies to make their operations more responsive and forward-looking during the Covid-19 pandemic, according to an industry report by the MHI trade association in collaboration with Deloitte.
Cloud computing, robotics and inventory/network
optimization tools saw the biggest jump in terms of supply chain investment, with 49% of survey respondents increasing spending, according to the 2021 MHI Annual Industry Report, ‘Innovation Driven Resilience: How Technology and Innovation Help Supply Chains Thrive in Unprecedented Times’, which provides insights into trends and technologies that are having a dramatic business
recently interviewed a company CEO who said people are reluctant to accept hybrid meetings and Virtual Reality conferences, but everything is on the move and if manufacturers and distributors don’t change
impact on supply chains and the people who run them. It found 83% of respondents, believe digital supply
chains will be the predominant model within just five years – 22% believe they are now and said their organization’s greatest challenge is hiring and retaining qualified workers at 52%. Close behind is the category of customer requirements in which customers continually expect and demand faster response times and lower costs. Digital innovation is essential to solving this customer experience challenge, but the technologies cannot be implemented without a skilled workforce to run them. “Supply chain resilience has never been more important. Companies that made investments in digital technologies prior to the pandemic were more prepared and able to adapt, survive and even thrive during this disruption. They will also be ready when the next crisis inevitably hits,” said John Paxton, CEO of MHI. It found the three most critical skillsets over the next five
years will be: project management/leadership; strategic/ problem-solving skills and critical thinking; supply chain management and analytics, modelling and process improvement. It is important to note 33% of respondents said that they are reskilling their current workforce and recruiting to meet these new skillsets. MHI says to avoid potential disruptions in the next
ten years; partner with vendors to better understand technology applications and their benefits (48%); increase investments and budget for innovative technologies (39%); and pilot new technologies (42%) now before it’s too late.
Jennifer Eagle, editor follow us on Twitter & LinkedIn @Hoist_Magazine
Hoist magazine
‘At least 40% of all businesses will die in the next 10 years if they don’t figure out how to change their entire company to accommodate new technologies’
www.hoistmagazine.com | June 2021 | 9
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