Supply Chain tasks Wasting Time and Money; Tech could answer the problem.

In a recent study, by Tungsten Network, it was suggested that businesses are wasting valuable money, and man-hours, on trivial supply chain tasks on a daily basis.

“Businesses estimate they spend on average per week around 55 hours doing manual, paper-based processes and checks; 39 hours chasing invoice exceptions, discrepancies and errors and 23 hours responding to supplier inquiries” (mhlnews.com 2017).

This loss- over time has been equated to around 6500 hours, during the work year, that businesses are throwing away by processing papers, fixing purchase orders and replying to suppliers.

Supply chain technology is a quick-emerging marketplace; bearing multiple innovations that can streamline daily supply chain processes. Reluctance/acceptance levels of the need for supply chain tech implementation are still high amongst supply chain professionals, despite the proven capabilities for automation of daily tasks.

Taking a deeper look at the example of – 23 hours of time spent- responding to supplier inquiries. Simply integrating with a supplier relationship management platform could slash these 23 hours significantly by automating sending of supplier assessments, purchase orders, requests for documentation, and much more.

Utilizing digitally based supply chain work tools can, too, provide a basis for workflow measurement within management teams; driving top-line success. Working within a common/organizationally accepted framework for daily supply chain activities (such as a digital enterprise platform) can capture work-processes and the data associated with internal activities to optimize internal performance.

Best put by Tungsten Network CEO, Rick Hurwitz:

“Technology means we can do away with the tiresome and menial tasks that clog business work streams and instead boost productivity and efficiency. It is surprising that in this tech enabled day and age businesses are still spending so many hours per week managing a process that could be automated.”

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