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 business processes, new business models, and customer experiences. In short, it is a new way of doing business, both externally with customers and internally, including with trading partners.
Companies of all types are facing challenges that are unprecedented, in terms of digital disruptions, competitive innovations, and customer-centric advances. Supply chains are not excluded from these disruptions – in fact, smart digitalization of supply chains can be the foundation for responding to (or getting out in front of) these threats. Amazon is the perfect example: its supply chains are fast, efficient, high performance, and customer-centric.
Digitalization of supply chains is not only a defensive measure against disruptors; it is also an offensive strategy for profitable growth. It can yield substantial internal efficiencies; provide much higher agility and flexibility; and radically transform the operational performance of a company for measurable value creation.
Tompkins has developed a Service Line that leads and facilitates a 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:
- Level One: The company is just beginning to digitize, and is uncertain how to do it.
- Level Two: The company is already digital to a limited extent, and is unsure or unclear what to do next.
- Level Three: The company is digital to a substantial extent, but uncertain how to expand to contribute the most to profitable growth or value creation.
Our methodology includes three major work Steps:
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?
Our Value Proposition for engaging Tompkins in your Digital Strategy, Planning, and Execution 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.
- Unique methodologies for operations strategies.
- Proven methods for organizational development and change management.
- Active involvement in digitizing our own Firm.