If you have been living under a rock, you wouldn’t have heard about the crisis that is occurring around the world, with supply chains stretched to their limits.
But how bad has it actually been?
“People have gone through some challenging times, and getting access to raw materials for manufacturing has been a problem,” Jason Pearce, Chief Technology Officer APJ from IFS revealed to Ticker News. “The supply chain has suffered through the stretching of resources.
“What we have found is that supply chain has been a very manual process, so being able to adopt digital transformation and new technologies has been really crucial.”
IFS have now come up with ways to help businesses and organisations with their end-to-end technology solution.
“We are trying to help organisations digitise their end-to-end processes,” Pearce adds. “And that does two things.
“It gives you access to the right amount of information at the right time to make those key decisions, and it allows you to provide much better service to your customers.
“Being able to make operational intelligence decisions becomes really important.”
Pearce reveals by taking this IFS approach, gains could be made.
“There could be substantial efficiency gains,” continues Pearce. “But also revenue streams as well.
“If you look at the typical manufacturer, they will make something and sell it, but if it breaks, they will make it again, needing to service that asset.
“By being able to service that piece of equipment and provide extra care, it can extend the life cycle.
“Also, by being able to analyse the data, make some effective business decisions about how your supply chain functions and make manufacturing decisions based on real-time information is valuable.
Pearce details what the market needs to do in Australia going forward.
“Australia is one of the markets that needs to be revisited,” Peace explores. “The country has been reliant on other nations providing goods.
“Our manufacturing sector has reduced a lot.
“By having digital transformation and help companies rebrand, it becomes very important.”
“Australia has a great opportunity from a sustainability point-of-view, and supply chain is driving the perspective.”
For more information, head to IFS’ website.