Effective digital supply chains have become the most recent cornerstone of digital transformation initiatives. The fast pace of technological change as well as the added complexities introduced by an increase in cloud consumption has meant that Procurement and Asset Management leaders are under increasing pressure from their organizations to deliver cost savings, while being receptive to the ever-changing business demands.
As a result, managing the external and internal challenges requires the right combination of technology, processes and talent to execute on an effective supply chain plan.
A software digital supply chain (DSC) creates a seamless, integrated set of systems and activities across the procurement cycle of software and cloud services – from software demand to fulfillment and optimization. It accomplishes this through better supplier collaboration, joint process improvements and integrated tools and workflows – which result in process efficiencies as well as more proactive contract and renewals management. Ultimately, an effective software supply chain will help organizations get the right software for the best price, delivered to the right users in a shorter period of time.
However, not every business has an effective digital supply chain program that could allow them to realize these benefits while avoiding wasted investment that may occur as a result of inaction. Let’s look at three primary ways that an effective digital supply chain can benefit an entire organization.