JAN - FEB 2019AUTOTECHOUTLOOK.COM6IN MYOPINIONTRANSFORMING SUPPLY CHAIN FOR THE "NOW ECONOMY"By Steve Martin, VP, Automotive, Ryder System, Inc. [NYSE:R]Affordable technology's moving at warp speed, putting immense pressure on businesses across all industries to keep up. It's a matter of choosing to step onto the playing field to tackle the competition in spite of the bumps and bruises you might sustain along the way. Sitting it out on the sidelines and watching everyone else play is not a viable option--unless you're willing to get smoked by the competition. Sophisticated technology is just one of the many disruptive forces that are threatening to change the rules of the game for the supply chain and logistics industry over the next decade. Whether it's the consumer packaged goods, retail, technology, or automotive industry, executives are being pushed to re-evaluate their operations due to these challenges. Steve MartinIndustry analysts believe it's the proactive companies that adapt in order to beat these disruptions that will come out ahead in the end.The "Now Economy"In the age of the "now economy," consumers want their products immediately. This has created complexities for supply chains while also affecting the transportation industry. In order to meet customer expectations, supply chains require a transportation network that is perfectly integrated with their operation. This shift in consumer expectations, backed by a growing number of do-it-yourselfers going straight to the source, is pushing supply chains to process orders faster and in smaller quantities. In addition to the "now economy," ecommerce and the Internet of Things (IoT) are driving the desire for more multi-client solutions and smaller distribution networks. All if this translates to shorter lead-times with a heightened necessity for on-time deliveries--all while ensuring safety mandates and KPIs are being met. In this kind of supply chain environment, a focus on operational excellence becomes more critical and valuable than ever before.Real-Time Visibility and Data Analytics As consumer demands continue to evolve, there's one thing that's sticking: the desire for greater transparency and data analytics that drive business insights. A cost effective tool that can swiftly turn big data into actionable information can help achieve this. The ideal system will capture data through new and flexible technologies and make useful data rapidly available to both customers and stakeholders. It provides a clear view of inventory and supply chain activity, and ultimately, it helps create responsive supply chains.Customers are also looking for more customization. A Ryder automotive customer, for example, recently asked us to help them develop a portal that would enable them to customize their own dashboards and reports. This supports the concept that by controlling your data, you control your destiny.It's important to remain in constant communication with customers and to both actively listen and respond to their feedback. Voice of the customer programs are a great way of accomplishing this. They afford you the opportunity to gain consumer trust by delivering on what you say you will. By managing expectations and engagement, you're able to collaborate both inwardly and outwardly. Our team focuses on
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