The way organizations approach the supply chain for their products is changing. To compete in the modern digital market, companies must become “bimodal”, innovating and evolving while also maintaining operational efficiency.
The modern business model must be able to quickly adapt to changes in technology and the market. With a bimodal supply chain, businesses can focus on today’s efficiency goals while experimenting with tomorrow’s new innovations.
What is Bimodal?
A bimodal supply chain consists of two “modes” of focus. The first mode, “stability,” continues to focus on the traditional operations and keeping costs down. The second mode, “agility,” finds ways to innovate, experiment, and embrace new ideas.
These two modes may need different teams working with different budgets, goals, and incentives. But where do you start?
Discovering Your Resources
It’s important to collaborate among departments, especially in areas that intersect with customer engagement like marketing and IT. Consider available resources such as your organization’s data, which can be used to enhance demand generation, purchasing, and customer service.
Analyzing transaction data can reveal purchase patterns and enable you to make customer-specific purchase recommendations. Add content to your website that answers key customer questions and makes your sellers more efficient.
Automating Your Processes
Austin developed our Vendor Managed Inventory program to help our customers by automating virtually every step of the supply chain process, from ordering and purchasing to stocking and managing. The program can also be customized to our client’s pre-existing inventory system, saving time and money.
The modern supply chain team will be challenged to spend as much time innovating and evolving their business model as they do maintaining their bottom line. Digital business is reshaping the supply chain, and both efficiency and innovation are critical to success.