The Digitalization of a business refers to the strategy, planning, and execution of the right digital initiatives that align business strategies, enabling a value-producing enterprise. Digitalization is a broad topic, composed of numerous new technologies, new processes, models, and customer experiences. It is a new way of doing business, both externally with customers and internally, including with trading partners.
What are the "Right" Digital Initiatives?
Digitalization can be expensive, and organizations are faced with an overwhelming array of choices. With constant solicitation from vendors and limited time to research their options, they can easily be saddled with costly "solutions" that do not meet expectations. Technology moves fast, and products are constantly changing. The right digital initiatives are revealed through focusing first not on products, but on a comprehensive strategy, followed by implementation of technologies that serve that strategy.
Companies of all types are facing challenges that are unprecedented, in terms of digital disruptions, competitive innovations, and customer-centric advances. Don't let digitalization be merely a defensive measure against disruptors; rather, let it be an offensive strategy for profitable growth. Smart digitalization of supply chains can be the foundation for developing supply chains that are fast, agile, efficient, sustainable, and customer-centric.
Tompkins will lead and facilitate your company’s strategy, planning, and execution into the Digital Age. We can take companies at any level of digitalization as far forward as their business strategy envisions, for example:
- Companies just beginning to digitize their supply chain operations, but are uncertain how to do it and where to begin.
- Already-digital companies, but to a limited extent, who are unsure or unclear what to do next, and which new technologies will provide the best ROI.
- Substantially digital companies that are uncertain how to expand, integrate, and streamline their digital strategy for more profitable growth or value creation.
1. Current State Assessment: Assess and position:
What is your company’s current situation? Are you ready for change?
2. Future State Design: Address gaps, formulate vision, and reach consensus on future state:
How will you design your vision and define initiatives?
This step is highly important, as it needs to define and evaluate numerous components of Digital Operations – of which there are over 12 for the 6 Mega Processes of Supply Chains: PLAN, BUY, MAKE, MOVE, DISTRIBUTE, and SELL. These components include new technologies, such as the Internet of Things (IoT), as well as more mature methods for supply chain visibility and trading partner synchronization.
3. Roadmap and Change Management: Determine and execute roadmap:
What should you: Do Now, Do Next, and Do Later? How will you execute change management process?
The value of engaging Tompkins in your Digital Strategy includes our:
- Deep and broad knowledge of supply chains in all industries.
- Experience in leading client companies to profitable growth.
- Highly recognized thought leadership in eCommerce.
- Independence and objectivity in technologies.
- Technical expertise in the development and deployment of supply chain technology systems.
- Unique methodologies for operations strategies.
- Proven methods for organizational development and change management.
- Unrivaled access to SC Industry Benchmarking Data.
- Extensive experience with the pros, cons, use-case applicability and deployment of myriad types of supply chain tech.
- The experience and involvement in digitizing our own Firm internationally.