As countries around the world begin to think about restarting the economy and lifting lockdowns, corporations are thinking about the best ways to plan their recoveries. The pandemic has exposed several internal weaknesses and fault lines within supply chains and operations in global businesses and this is the time to plan to remedy them. It has also revealed opportunities in digitization, AI, and automation that businesses can use to build resilience, reduce costs, and improve productivity.
One of the most crucial disruptions has been in global supply chains. Supply chains are complex, widely interlinked, and vital to many corporations. But its very nature also makes it vulnerable to a broader swathe of risks. In such risky environments which are likely to continue in the near future, it is imperative to build an automated and agile supply chain that can respond quickly to rapid and sudden changes.
One of the steps to automating complex global supply chains is by Robotic Process Automation (RPA) which can not only handle simple processes like customer service interactions but also complex tasks like using data patterns to automate vendor selection and so on. Additionally, RPA can now also use intelligent computer vision and cognitive automation to further help businesses make informed decisions. Recent reports by IBM’s Business Value Institute show how blockchain, AI, IoT, and smart manufacturing can further diminish friction in global trade and minimize the damage of disruption.
Artificial intelligence is now playing an increasingly important role in managing the supply chain. Initially organizations were reluctant about AI systems as they work on established and historic data patterns and were seen as incapable of handling disruptions and sudden changes like the coronavirus pandemic. But now AI systems are built with trackability, which enables humans with a greater degree of control and intervention in the decision-making process of AI.
Building digital business platforms is necessary in today’s digital-first environment. Small and medium-sized businesses that had a smaller digital presence must now prepare to invest in digitization if they have to survive in the age of disruption. Business platforms can help companies reinforce their position in competitive industries and open new market opportunities. Tricon Infotech has helped businesses through their digital transformation leading to improved outcomes, higher productivity, and reduced costs of operations. We have developed expertise in creating reliable tech solutions including RPA, cloud services, digitization, and more that can be customized for businesses across sectors. Connect with us to learn more about how Tricon Infotech can help you navigate the disruption and take your business to the next level.