Published on
June 25, 2024
From a bridge collapse in the US to a severe drought in the Panama Canal, major events across the world have the power to impact regional supply chains and affect the availability and cost of the goods on our supermarket shelves.
Australian supply chain operators have always faced freight disruptions, but the issue is escalating. Industry leaders have had to be nimble and adopt new ways of working to keep product moving through the region.
Tech leader Sam Askin is among those helping supply chain operators navigate the increasingly complex path that lies ahead. She believes that heightened visibility over operations is the key to driving efficiencies that will allow the benefits to flow on to customers.
Askin is the CEO of Australian software company OneStop, which is experiencing surging enquiries from supply chain operators seeking tech solutions to reduce bottlenecks and create more efficiencies.
Leading A Digital Transformation
With nearly two decades of experience implementing technology into companies she’s worked for, Askin has overseen a transformation at OneStop from a software supply chain company to a
technology innovator.
She explains that OneStop connects people, goods and technology by consolidating data from disparate sources, giving businesses real-time visibility over the supply chain and actionable insights.
“We know the supply chain can be impacted by uncontrollable events or even a change in supply and demand. These factors can collectively contribute to inflation and escalating costs which directly effect consumers. OneStop provides the platform for businesses to predict disruption, improve their demand forecasting and adjust accordingly.”
Understanding The Challenges
Forecasting models are often used to predict capacity, demand and cost, with certain factors such as customer behaviour baked in as ‘known entities,’ but that only works until there’s an
unexpected disruption.
Variations in customer demand have an effect on the supply chain, along with unforeseen events and any impact to transportation like the blockage in the Suez Canal in 2021.
The supply chain is inundated with data from a magnitude of sources, which are disconnected, leaving gaps of information. Many processes are also done manually, with pen and paper, which creates further gaps.
This interrupts the flow of data and presents a significant obstacle in achieving true efficiency.
Building Resilience After Years Of Disruption
KPMG says that technology holds the key to ironing out the problems that supply chain operators face. Its research shows that the right data can give companies greater visibility over the problems that lie ahead and help them navigate blockages.
Advanced technology can help Australian businesses build resilience after surviving multiple years of disruption and crises, KPMG’s global head of supply chain, Peter Liddell, says.
A recent report highlights the need for greater reliance on data and analytics to drive decision-making to keep the ecosystem as efficient as possible. Liddell says that supply chain challenges aren’t going away, so being ‘future ready’ is critical.
Meanwhile, the Australian Government has stepped up its bid to identify and address disruption risk in critical supply chains, measuring the impact of disruptions. It has also announced grants of up to $2 million to encourage businesses to invest in capabilities to address supply chain vulnerabilities.
Turning Real-Time Data Into Insights
Askin aims to ensure a more seamless and connected supply chain across the region. Over the years, OneStop’s tech remit has broadened into developing solutions aimed at streamlining manual procedures, aggregating data from various sources and giving users real-time visibility and actionable insights to improve the flow of goods and services.
Giving supply chain operators real-time access to better information will help them to make better decisions and ensure the supply chain continues to operate efficiently, she says.
“The national supply chain is complex, and keeping it moving the way it does is a great achievement. No one thinks twice about the supply chain until they run out of toilet paper, but when there’s a shortage, it’s all over the front page,” Askin says.
Future Ready
OneStop is investing heavily in research and development, and Askin says the future lies in machine learning and artificial intelligence to build a supply chain system capable of warning clients about the impact of unexpected events, delays in shipping routes and other unforeseen holdups, allowing them to make alternative plans and streamline their workflow.
“Together, we are building a more efficient supply chain ecosystem by providing insights to companies so they can improve their workflow. We’re essentially helping the supply chain become future-ready.”
Askin says companies demand technology solutions to be up and running immediately, meaning tech companies like OneStop need to hit the ground running.
“In the not-too-distant future, our technology will be able to predict the bottlenecks in the system so that our clients can make better decisions to make their business more efficient. If we get smart with it, our technology will make the decisions for you,” Askin says.
Source link : https://www.forbes.com.au/brand-voice/brandvoice/australian-tech-innovator-streamlining-the-oceania-supply-chain/
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Publish date : 2024-06-24 22:04:47
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