Do you realize that in the new now, it has become increasingly important to adapt your business and value chains to a new “phygital” reality? That’s exactly the main topic we covered during our annual Bluecrux inspiration event, gathering over 200 supply chain and operations professionals for another virtual adventure.
This year, over ten top-notch industry professionals, thought leaders and Bluecrux experts took to the Phygital stage to share their knowledge and experience on how companies can build tomorrow’s value chains for a better future and how to get your company’s value chain ready for the next generation.
Curious about what we have learned? Read on and discover five ways to get phygital in the new now.
1. Never ignore the ever-changing values of your customer
Business success is always about staying relevant to customer needs and values. Today’s supply chains must be capable of delivering to the consumer of tomorrow, and building that agility and change into the system is key. Even if you’re more upstream or downstream in the value chain, in the end, changing consumer behavior, consumer needs and consumer values are going to impact everyone in the value chain. Understanding the values of the modern consumer is vital if we are to lean into volatility.
2. Clarity & collaboration are key
Thinking about creating new value chains in the new now, it’s nearly impossible to manage everything on your own. First, you need experienced and trustworthy partners to realize your company’s ambitions. Second, it’s essential to have clarity on roles and responsibilities. This means your program governance and project stage gates should be transparent throughout the entire company. Third, you need to build trust, facilitate communication and empower your teams to act autonomously, making quick decisions when needed while asking for top management guidance when appropriate.
3. Handle demand uncertainty & supply variability with supply chain resilience
In times like these, where the speed of business is increasing dramatically, it has become more important than ever to have a good strategic supply chain design. There’s a lot of uncertainty in demand, and supplies are becoming quite variable, both resulting in tremendous value leakage, so building resilience is key.
Supply chain resilience really made its mark as a business objective and is the next step in making business decisions. And it’s precisely in this area where you need solutions like Axon, proving how probabilistic supply chain planning extends the concept of resilience to include the likelihood that a plan can be executed successfully, giving you a much richer trade-off between service, cost and cash.
4. Strive toward digital collaboration with internal & external partners
Is your company struggling with a complex and sequential value chain? Then try to move toward a digital value chain in which real-time sharing of information with your stakeholders is the main objective. Collaborate with your supply network partners across a multi-tiered ecosystem, empowering your supply chain organization to become more resilient, innovative and agile. In the end, digital collaboration with internal and external partners will be the key driver of your value chain improvement and optimization.
5. Build partnerships with new stakeholders & see this as an opportunity
Organizations drive for more and more agility which—without clear processes—drives more and more production changes. This increases the need to bring the supply chain planning world (and significant transformations that are going on here) and the world of QC closer together.
Getting quality operations orchestrated in the supply chain requires a strategic approach in the first place. This will require a necessary mindset change for labs, and consequently, new roles will need to be established. Also, lab operations have become increasingly complex, which means that digitalization is essential for choosing the battles and winning the war. It’s time to see this as an opportunity, not an issue.
The question is no longer: Will this happen? But rather, when and where?
To conclude, it’s dependent on your company’s challenges which way of getting ‘phygital’ in the new now is the best to aim for.
If you want to share your feedback with one of our experts, don’t hesitate to get in touch or schedule a meeting!
Natalie is the head of brand marketing at Bluecrux.