From the course: Supply Chain Foundations: Supplier Development and Diversity

Develop a technology strategy

From the course: Supply Chain Foundations: Supplier Development and Diversity

Start my 1-month free trial

Develop a technology strategy

“

- If you followed the news in 2022, you might remember all the fuss about the ships being backlogged in Long Beach, California. Well, that was a perfect example of how COVID-19 was a major supply chain disruptor. Some companies had no idea whether or not their parts and supplies were delayed. The pandemic broke the largely disconnected linear supply chain and pushed it towards a data-driven digital supply network connecting trading partners in real time. What made this possible was technology as such a big data, the industrial Internet of Things, artificial intelligence robotics, additive manufacturing, and others. One way a supplier may leverage technology is to use the Smart Industry Readiness Index or SIRI. Endorsed by the World Economic Form, the tool helps suppliers start, scale and sustain their manufacturing transformation journeys. The SIRI Assessment is a qualitative performance benchmarking tool that compares a supplier's digitalization readiness to other global suppliers who have taken the same assessment. It covers the three elements of process, technology, and organization. Certified SIRI assessors compare areas such as shop floor automation, connectivity, intelligence, and talent readiness. In the last video, we talked about the renewed urgency of suppliers reporting their environmental metrics. SIRI can help facilitate environmental compliance data reporting through machine to machine connectivity. Suppliers must develop technology strategies to stay competitive in evolving digitalized and ESG-driven supply chains.

Contents