Analysis: 1 out of 3 Companies Underprepared for Digital Transformation
Digitization is not innovative anymore - it's really just average. That is if you consider your self a market leader in your respective industry. Companies lagging in this way are most likely also lagging their competitors and not growing.
This perspective is what made a recent article from Manufacturing and Logistics IT Magazine so surprising. It shows there is still a lot of work to be done for many companies.
These are challenges that undoubtedly apply as much to the logistics industry as any other.
Companies looking to begin their digital transformation often just need a little push to get started - so our advice is to start small and not feel it's necessary to change everything all at once.
If possible, start with areas having the most impact and far reaching benefits. The basic data that populates shipping documentation and customs paperwork are "long hanging fruit" for digitization - as one example.
Also consider the end-to-end supply chain. This same data also flows through many parts of the sales and finance functions as well. Many times, however, the source of data can come from all over. Digitization makes it easier to gather, share, and manage data regardless of how decentralized people or the data itself may be.
When the process of digital transformation seems too overwhelming, it helps to keep the long term goal in mind. Digitization is not just about saving time by automating repetitive tasks or other small tactical benefits - it's really about positioning your company to elevate the service you provide to customers and differentiate yourself from your competition.