After a period of significant downsizing and reduction in IT, supply chain executives need to re-think their IT investment strategies, particularly given the dominance of the Web, social media and cloud computing.
Fundamentally, there are two components of IT investment:
Sustaining current capabilities
Developing new capabilities
Sustaining the status quo is often a given. But when it comes to creating new capabilities, the question is how much additional value and return can be gleaned from new IT investments, especially in uncertain economic times. Based on recent conversations I’ve had, it’s clear that uncertainty is the biggest challenge in today’s economy. Regardless of what people think is causing the downturn, there is real speculation and risk associated with new spending in this environment.
What is Supply Chain Software?
The ultimate goal of supply chain management (SCM) software is to enable a company and its partners to “sense and respond” to changes in the characteristics of products, the demand for products and the supply of materials used to make products in a way that, at the end of the day, always meets consumers’ needs at an optimized cost.
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