Managing global freight and ocean container movement now requires more dedicated insight as companies have expanded internationally. And no event outside of COVID-19 has exposed just how extensive, yet fragile, logistics networks and capacity flows have become over the last several decades.

To adapt, some manufacturers have adopted progressive supply chain approaches that move from "lean models to more flexible ones like "sense and respond." But not all businesses have successfully met the challenges.

Globalization forces supply chains to consider all events, from regional holidays and ocean weather patterns to geo-political turmoil and currency fluctuations. Moreover, 2020 introduced yet another element: navigating a global pandemic.

The evolution of supply chain business models has been accelerated by unprecedented disruptions. As a result, there has been a clear shift from analog supply chains models of the past into a trajectory towards a digitalized ecosystem. These new business models recognize and necessitate the move to a digital and integrated supply chain that provides visibility and ease of use for consumers.

This journey is about moving towards a world where all parties participating across your network are connected to a single version of the truth. Supply chain thinking is shifting from ‘linear supply chains’ to ‘supply chain eco-systems’ propelled and supported by digital technologies.

Gartner has established a five-stage model of the journey to supply chain maturity, ranging from manual, analog systems to a fully digitalized ecosystem. Key differentiators along this evolutionary chain include consideration of data and collaboration, with the ultimate goal of integrating data across multiple systems to achieve a fully connected ecosystem that provides transparency and visibility for your company both internally and externally.

With spring just around the corner and rising hope that the vaccination rollout will eventually bring some relief to restrictions, it is time to start thinking about how the world of work should move forward. While the pandemic forced us to adopt new ways of working, we have learned some valuable lessons in the last year that should not be quickly forgotten. In fact, some of these new strategies should continue long after the crisis subsides as we have come to the realization that the workforce, the workplace and work itself will never be the same. Here are three concepts to consider as you plan for the future.

Cloud technology in the hospitality industry is changing the way that hotels, resorts, and gaming organizations serve guests. The deciding factor to success is in how simple it is for a guest to get what they want from a hotel via their own personal devices even before they arrive at a location. Essential mobile-based technology enables them to book a room, to set arrival times, to upgrade a room, add services, and more, all without necessarily having to make contact with staff.

That call for contactless solutions delivered via cloud PMS is a priority for the industry right now. This is for convenience reasons. Yet it also has social implications in an era of maintaining distance and limiting contact. How do cloud-based solutions make that easier than legacy on-premises solutions? Let’s take a look at some of the details.

As fashion organizations grow to introduce new products or clothing lines, acquire other companies, shift priorities, and change channels to market, key stakeholders can be left out of the conversation. A networked approach to running your company can solve these problems. Collaborative networks work because they engage internal and external partners, workers, and stakeholders, helping to incentivize and execute supply chain processes more effectively than ever before.

New insights will continue to emerge as consumer behaviors shift and production opportunities evolve, but a continuously synchronized and updated network can keep you agile from sketch to store by making critical information accessible to colleagues, organizations, suppliers, and customers. Collaborative networks work to improve customer service, maximize margins, and minimize loss attributed to miscommunications such as missed inventory targets, downtime, spoilage, and other challenges. 

When extreme levels of disruption occur, supply chains immediately launch a survival strategy that tends be focused solely on the enterprise, leaving upstream and downstream trading partners to fend for themselves. Whether scrambling to enable remote work opportunities, implement flexible or staggered labor scheduling, or launch multiple capital preservation strategies, organizations have begun employing a variety of strategies to protect their supply chains and weather the storm.

To ensure the health of the overall supply chain network, the urgency to digitize processes and documents that allow both data and capital to be unlocked has become more prevalent than ever—particularly when a complex number of parties, systems, and document across geographical regions and time zones are involved.

The hospitality and gaming industries require specific functionality when it comes to sales and catering, and event management. The same goes for family entertainment centers like bowling centers, laser-tag spaces, and others.

What are those factors? What should organizations in these sectors look for in software solutions to manage these important aspects of their business. The cloud has emerged as a proven alternative to the legacy systems used by the hotel industry.  One by one and group by group, independent hotels and chains alike, are seeking out a cloud-based platform to provide integrated solutions for their hospitality management needs. 

Beyond cloud technology, let’s look at some other event sales and catering software characteristics that contribute to the success of hotel and casinos as legacy systems are beginning to be phased out.

The International Finance Corporation (IFC), the World Bank’s private sector arm, set out to provide relief to businesses in emerging regions as the pandemic roiled global markets. Stephanie von Friedeburg, MD and COO of the IFC, looks back on the year in a recent podcast where she reflects the following:

“There's been a substantive hit on supply chains, trade shocks. And so our trade finance business, which has always been a core of our business, has grown very substantially. And we've seen it in the poorest countries in particular, where we know that we need to continue to keep trade flowing. So we've seen an increase in trade finance in that relief piece. We've also seen many of our existing clients needing working capital and needing liquidity, and we believe it was important for us when we typically don't do a lot of liquidity or working capital, but important for us to step in and help our existing clients to withstand the crisis, keep them solvent so that when we come out of the crisis, we can rebuild faster and better.”

Improve business productivity and agility

Modern enterprise resource planning (ERP) systems are helping businesses around the globe—including your competitors—revolutionize their operations. Distributors of all sizes are adopting technology that is designed to better manage business processes on an integrated and real-time basis. Technologically advanced ERP systems are an investment in your company’s operations, efficiency, intelligence, and productivity. Every feature of a modern ERP system ultimately ties back to these improvements, which enable your organization to become more productive, more competitive, and better positioned to meet your customers’ needs.

As these business systems evolved, they met the needs of their times, but their functionality was directly limited by the available technology. Today’s ERP systems might be better called digital operations platforms (DOP) to reflect their agile, artificial intelligence (AI)-based, and experience-driven nature, as well as the critical role they play in cloud-based, digital businesses.

Technology advances have transformed what an ERP (aka DOP) can do for your organization. Modern ERP systems provide a live view into what is happening and how it impacts your business today, as well as in the months and years to come. This helps you to focus on the future instead of the past.

Why a modern ERP makes business sense

In today’s fast-changing business environment, modernization can have a strategic impact on your business. Without access to a modern enterprise resource planning (ERP) system, it can be difficult or even impossible to support new business models and keep up with evolving customer demands. Whether you’re planning to upgrade your current ERP system or implement a brand new one, getting your system up and running quickly is the key to obtaining a fast return on your technology investment. No matter how complex your organization is, a variety of agile implementation practices can speed transformations—and deliver game-changing returns.