The pandemic revealed the complexity and fragility of modern supply chains.
The challenge is to fortify and simplify the supply chain, without sacrificing resilience or efficiency. This is especially true for transportation. There is plenty of efficiency to be gained in how raw materials and saleable goods are transported, whether it’s to factories, retail outlets, or directly to consumers.
I (@YuHelenYu) was honored to host a discussion to explore how business can solve supply chain efficiencies through smart use of technology, improved processes, and beyond.
Joining me on the panel today were three respected industry thought leaders: Tamara McCleary @TamaraMcCleary; Kevin L. Jackson, CISSP®,CCSP® - @Kevin_Jackson and Dez Blanchfield @Dez_Blanchfield. Peter Linder @OneLinders from Ericsson also joined us.
Here is a recap for our #BizTalks Twitter Chat today. Please share your thoughts in the comment section or reply to us via Twitter.
Welcome to @ATTBusiness #BizTalks Twitter Chat on “Solving Transportation Inefficiency for a Better Supply Chain”
I am Helen Yu, Global Chair of Manufacturing Multinational and Supply Chair at G100; CEO of Tigon Advisory, and Host of CXO Spice.
Let me get our panelists introduced:
Tamara McCleary - @TamaraMcCleary
As an internationally recognized expert on relationships, influence and conscious business, Tamara McCleary is ranked by Klear in the Top 1% of global Social Media Influencers and is listed as one of the Top 50 Social Influencers of 2015 by Onalytica. Tamara is also an IBM Futurist and was ranked by LeadTail as the third most mentioned person on Twitter by Chief Marketing Officers in 2015.
Kevin L. Jackson, CISSP®,CCSP® - @Kevin_Jackson
Kevin L. Jackson is a globally recognized cloud computing expert, Thought Leader, Industry Influencer and Founder/Author of the award winning “Cloud Musings” blog. He has also been recognized as a “Top 5G Influencer” (Onalytica 2019), a “Top 1000 Tech Blogger” (Rise Social Media 2019) and provides integrated social media services to AT&T, Bosch, Ericsson and other leading companies. As an associate consultant with A.T. Kearney, he provided cloud computing and cyber security management consulting services to the Kingdom of Saudi Arabia.
Dez Blanchfield - @Dez_Blanchfield
Dez is a strategic leader in business and digital transformation with 25 years of experience in the IT and telecommunications industries developing strategies and implementing business initiatives. He has a breadth of expertise spanning technologies such as cloud computing, big data and analytics, cognitive computing, machine learning and the Internet of Things.
@YuHelenYu: A1: I first started thinking about supply chain issues during pandemic, when the toilet paper was out of stock. The Wall Street Journal did a fascinating documentary called “Why Global Supply Chains May Never be the Same. According to the documentary, that the cost is higher than I ever imagined: $9B of goods stuck for a day, costs $400 million per hour. #BizTalks, #SupplyChain, #Transportation and #ATTInfluencer
@YuHelenYu A2. Supply chain inefficiencies can be caused by a range of challenges, including poor communication, lack of visibility, supplier issues, network disruption, security breaches, and inventory management. Inefficient processes, outdated technology, and inadequate training can also be causes for inefficiency.
@YuHelenYu: A3: Supply chain disruptions are costing organizations an average of $184 million per year, per Statista. The financial burden is highest in the US, where the estimated average annual cost amounted to $228 million. Here are 3 ways global to improve supply chain efficiency:
@YuHelenYu A4. Here are a few ways IoT devices can help solve transportation inefficiencies: 1. Visibility: GPS trackers and sensors can be installed on vehicles, containers, or packages to track movement in real-time. 2. Predictive maintenance: IoT sensor can collect data on the health and performance of transportation assets. 3. Route optimization: IoT enables real-time data collection and analysis on traffic, weather, fuel consumption, and other factors impact transportation. 4. Inventory Management: IoT sensors can be used to monitor and manage inventory to reduce waste, prevent spoilage and maintain product quality. 5. Enhance collaboration: Enables communication across the network, suppliers, manufacturers, logistics providers and customers with real-time visibility. #BizTalks, #SupplyChain, #Transportation #ATTInfluencer
@YuHelenYu: A5. Network modernization is the foundation for a reliable and secure network. Modernized Network offers embedded active intelligence and enables for continuous visibility into your business so you can make agile, responsive, and informed decisions as needed. It can also meet the future demands that might surface. The increased visibility allows businesses to identify vulnerability faster, respond to incident faster.
@YuHelenYu: A6. Direct costs of supply chain disruption include inventory loss, production delays, expedited shipping, increased logistics costs, short-term capacity constraints, and contract penalties. Indirect costs of supply chain disruption include lost sales and revenue, customer dissatisfaction and loss, reputational damage, increased operational costs, rework and quality issues, and supply chain redesign. #BizTalks, #SupplyChain, #Transportation and #ATTInfluencer
@YuHelenYu: A7: Reliable fiber and 5G play crucial roles in enhancing operational efficiency and modernizing the network infrastructure in supply chain and transportation. Fiber-optic networks and 5G enable faster and more reliable connectivity across the supply chain and facilitates real-time data transmission and communication. It supports IoT integration and enables real-time visibility into inventory, shipment tracking and asset management. It supports real-time analytics and decision-making and deployment of autonomous vehicles and drones; remote monitoring and control. Enhanced visibility across the supply chain enables proactive problem-solving and faster response to disruptions. #BizTalks, #SupplyChain, #Transportation and #ATTInfluencer
@YuHelenYu A8. Evaluate your current manufacturing processes and identify manual and repetitive ones for automation. Evaluate current supply chain network and technologies to discover vulnerabilities. This could include implementing reliable and secure networks with embedded security, IoT and advanced wireless powered by 5G, robotics, and AI, or fiber internet.
Thank you everyone for joining us today. I hope you walked away with meaningful insights. Please tune in for the upcoming AT&T Business #BizTalks LinkedIn Live at 12pm ET on June 28. #BizTalks #SupplyChain #Transportation #ATTInfluencer
Here are my key takeaways from today’s #BizTalks Twitter Chat:
Transparency is the key to solving supply chain inefficiencies. You need the data to see where breakdowns and bottlenecks are happening in order to solve them. Collecting this data requires a secure, reliable network to support connected IoT devices in every part of the supply chain.
With IoT devices and AT&T Fleet Management, businesses can reduce errors, enhance driver safety, increase fuel efficiency, and reduce downtime.
AT&T Business has the solutions that can help solve these challenges, including:
● 5G and wired connectivity seamlessly working together.
● Security that starts at the network
● Fleet management for more efficient transportation
● Expert consulting to make the most of data from your IoT devices.
In my article How supply chain inefficiencies are stealing your profits,
I highlighted that Supply chain disruptions are costing organizations around the world an average of 184 million U.S. dollars per year, according to Statista. On a regional distribution, the financial burden is highest in the United States, where the estimated average annual cost amounted to 228 million U.S. dollars.
The modern supply chain landscape is constantly evolving, and organizations are expected to keep up with these changes. Today’s supply chains need to be flexible, responsive, and resilient to changing market conditions.
By reducing supply chain inefficiency, companies can reduce costs, increase customer satisfaction, and gain a competitive advantage in the marketplace. These are the traits of world class organizations operating at peak performance. These are the competitive advantages your supply chain can deliver.
Please tune in for the upcoming AT&T Business #BizTalks LinkedIn Live at 12pm ET on June 28. I will be hosting Tamara McCleary and Sarah Barnes-Humphrey to dig into the underlying causes of supply chain inefficiencies, with a special focus on the challenges and opportunities in the transportation arena. More importantly, we will explore practical strategies and approaches to address these challenges head-on.
Helen Yu is a Global Top 20 thought leader in 10 categories, including digital transformation, artificial intelligence, cloud computing, cybersecurity, internet of things and marketing. She is a Board Director, Fortune 500 Advisor, WSJ Best Selling & Award Winning Author, Keynote Speaker, Top 50 Women in Tech and IBM Top 10 Global Thought Leader in Digital Transformation. She is also the Founder & CEO of Tigon Advisory, a CXO-as-a-Service growth accelerator, which multiplies growth opportunities from startups to large enterprises. Helen collaborated with prestigious organizations including Intel, VMware, Salesforce, Cisco, Qualcomm, AT&T, IBM, Microsoft and Vodafone. She is also the author of Ascend Your Start-Up.