Visionary supply chain managers opt for digital data
The Globe and Mail article, "Visionary supply chain managers opt for digital data" quotes Russell Reynolds Associates Pascal Becotte about the growing need for companies to embrace digital supply chain transformation. The article is excerpted below.
“Organizations that translate big data into tangible products, services or new business models will have a huge advantage over those who fail to fuel their innovation with information.”
Dr. Deborah Hurst is dean of Athabasca University’s Faculty of Business
Companies that understand how to use big data and analytics to enhance the efficiency of their supply chains can gain a significant competitive advantage in a global business world that is increasingly being driven by digitization, according to supply chain specialist Pascal Bécotte.
Dr. Bécotte leads the global supply chain practice for the Americas for Russell Reynolds Associates, a global leader in assessment, recruitment and succession planning for boards of directors, chief executive officers and key roles within the C-suite.
“Unfortunately, a vast number of companies are not well positioned to embrace digital supply chain transformation,” he says. “An overwhelming majority of executives in companies across disparate industries are lacking when it comes to their position on what might be termed the ‘digital preparedness continuum.’”
Dr. Bécotte, who has a doctorate in business administration from Athabasca University, says it takes vision and the realization that unless an organization changes and adapts, it will be left behind while its competitors move into the digital supply chain age.
For example, says Dr. Bécotte, while projections of increased efficiency, higher productivity and the ability to innovate flowing from supply chain digitization may be impressive in the early planning stages, operationalizing the digitalization usually comes with sobering realizations. In particular, organizations that did not keep their IT infrastructure highly current face an unforeseen significant IT infrastructure upgrading cost just to handle the increased volume and flow of data. The ensuing considerable cost of transformation can negatively impact earnings per share in the short term, and the business case becomes daunting to build, making it increasingly difficult to persuade shareholders and board directors who may feel blindsided by the investments required.
To read the full article, click here.