As the lifting of COVID-19 restrictions continues worldwide, organisations feel the impacts of the rising inflation and supply chain disruptions. For example, supply chain disruptions have largely contributed to the sharp nosedive of the UK economic growth as it slows down to 1.3% in the third quarter.

Also, while the mass rollout of the coronavirus vaccine comes as a relief, the quick spread of the pandemic throughout 2020 caused a largescale shutdown of industries. Indeed, lockdowns meant a low consumer demand.

Although the lifting of COVID-19 restrictions has seen demand skyrocket, supply chains are still facing numerous challenges and are struggling to make a comeback. In addition, other events have caused a worldwide supply chain crisis, among them being power shortages in China which have affected production, Brexit in the UK causing a shortage of truck drivers, and a huge backlog in US ports. As a result, the risk of a supply chain crisis taking down the global economy is real.

In fact, data from the Office for National Statistics (ONS) shows the pervasiveness of supply chain disruptions and how the risk of economic turmoil is manifesting itself.

According to ONS data, 17% of adults within Great Britain experienced scarcities of critical food items between October 20 and 31, whereas 37% struggled to get fuel between October 6 and 17. Businesses have also felt the adverse impacts as 17% and 11% of companies could obtain materials and goods from the UK and EU, respectively.

Supply Chain Activities in the Cloud

In light of the various supply chain challenges, organisations are steadily embracing cloud-based supply chain activities. 

1. Forecasting and Planning

An effective supply chain depends on accurate forecasting and planning. Suppliers require to accurately forecast demand so they can plan production and other aspects of the supply chain. Companies can acquire and analyse data from wholesalers, retailers, and producers by leveraging cloud computing capabilities. Cloud data analytics can ensure accurate forecasting, facilitating well-informed plans that simplify and address the supply chain challenges.

2. Logistics

Poor logistics is one of the biggest hindrances plaguing the supply chain sector today. Inability to maintain accurate inventories and track dispatched supplies to ensure timely delivery can severely impact even the most advanced supply chains. Moreover, logistics is pertinent to meeting the increasing demand, which calls for suppliers to up their game as far as transportation and inventory are concerned. Luckily, cloud computing can facilitate logistics by enabling automated inventory management, optimised transportation routes, and tracking procedures. Besides, multiple entities responsible for a logistics plan in the supply chain can use cloud computing to share and unify data.

3. Sourcing and Procurement

Sourcing materials and procuring them is the lifeline of any supply chain process.

That said, companies can utilise cloud computing solutions to maintain accurate and updated databases containing relevant suppliers’ relevant information.

Also, using cloud computing technologies to order from the most appropriate supplier automatically generates value for money. Moreover, some cloud computing solutions can develop contracts automatically, which simplifies the supply chain process.

Addressing supply chain challenges with Cloud Computing

The following advantages of using cloud computing technologies illustrate how companies can solve various challenges in the supply chain sector:

1. Intelligence and Automation

Artificial intelligence enables advanced analytics and cognitive capabilities in a cloud environment. Companies can leverage cloud capabilities to harness exploitable opportunities in the supply chain.

Besides, predictive analytics can assist organisations in identifying and avoiding various supply chain risks. As digital transformations take root across all industries, cloud automation can ensure operational efficiency throughout a supply chain. For example, specific triggers can instruct a cloud-based supply chain to make automatic orders or supplies.

2. Real-Time Visibility

The supply chain is dynamic, where multiple activities occur simultaneously. As a result, using traditional methods to track the operations may be infeasible and often results in information overload.

Thus, modern companies require advanced cloud computing solutions that provide real-time visibility of all supply chain activities. Staying current on what’s happening can enable rapid but accurate decision-making processes, thus enhancing supply chain operations.

3. Enhanced Scalability

One of the defining attributes of the cloud is the ability to scale up or scale down resources to meet emerging needs. Similarly, cloud computing can help organisations to scale supply chain activities and operations.

Cloud computing can scale operations based on the available customers or staff to ensure an optimised supply chain. For example, when the demand is high, a company can scale supply chain operations to meet the demand and vice versa when the demand is low.

4. Speed

Unlike traditional supply chain methods, cloud computing can facilitate real-time supply chain operations. Efficiencies like a readily available and updated database, inventory, automated services, and information shared between all entities in a supply chain can assist an organisation in performing supply chain operations in real-time. These capabilities help companies identify and predict opportunities and risks, enabling them to move quickly and efficiently.

5. Cost Efficiency

The ability to access the most advanced analytics capabilities and data processing technologies anywhere and anytime without implementing expensive in-house technologies has revolutionised the business landscape.

An affordable subscription to cloud computing technologies provides access to these and other advanced technological solutions. In the case of the supply chain industry, organisations can utilise cloud computing technologies to address mishaps like logistics issues and bottlenecks.

In addition, cost efficiency can help supply chain companies channel financial resources in other critical areas like production.

How can Cloud Geeni Help?

Cloud Geeni provide leading cloud computing solutions that can benefit the supply chain sector immensely.

Your organisation can utilise Cloud Geeni’s intelligent cloud solutions to automate its workflows, optimise the production process, keep track of supplied stock, and share information with other supply chain entities to enhance operations.

In addition, Cloud Geeni can help organisations in the supply chain incorporate the supply chain process through cloud-based software that enables computing on more linear data flows.

Last but not least, Cloud Geeni’s cloud-based supply chain operations can assist manufacturers in speeding up and monitoring their supply chains more efficiently by leveraging intelligent cloud systems.