Smart manufacturing requires the involvement of many different stakeholders and resources. In times like these, when uncertainty can be extremely high, and the established ways of working become unstable, leaders are trying to create more flexible and connected systems to meet the rapidly changing requirement of clients and to counter market volatility.
This is where digital transformation becomes a crucial element in the process of companies gaining competitive advantage on the global market.
The McKinsey & Company survey of senior supply chain executives by in 2020 proved that the coronavirus pandemic had been a catalyst for further digitalisation of end-to-end supply chain processes
- An overwhelming majority of survey respondents said they had invested in digital supply chain technologies during the previous year, with most investing more than they originally planned.
- Although automotive and commodity players, for example, were reluctant to commit to additional investments amid the uncertainty of early 2020, 100% of the respondents in those sectors eventually did so.
- Also, almost every company had plans for future digital investment.