GTM grows up
Just as teenagers grow into adults, GTM has advanced from the siloed solutions of the past to single-platform solutions that continue to evolve. Single-platform solutions provide the digital model for sourcing logistics, trade operations, and trade compliance with a broad and deep set of cab capabilities that enable collaboration, automation, and analytics.
Best-in-class companies are embracing the GTM of today. Despite a fairly high level of in-house developed systems remaining in place, more than 81% of best-in-class companies surveyed by Aberdeen indicate they are more likely to adopt a best-of-breed GTM solution, either cloud-based or on-premises. Over 71% are more likely to leverage technology from logistics partners.
Real-time visibility is essential to the timeliness of data for decision making and keeping plans on track, especially when consumer expectations are now next-day or even same-day deliveries. Companies can’t wait any more. GTM can offer online visibility on global orders and supplier status on shipments, including in transit visibility once a product is shipped. Up to 69% of best-in-class companies surveyed say this online visibility into in-transit shipment is a must have of their GTMs, compared to 51% of all others respondents.
A digital platform becomes the basis of sharing information in real-time and having exception processes in place to immediate alerts any out-of-tolerance conditions. In the event of supply disruptions, real-time visibility and a communication network with all partners involved enables prompt action and avoidance of catastrophic delays.
The future is transforming
The acceleration of business processes due to consumer demands, changing policies and technology innovations are driving digital transformation initiatives across many global supply chain companies. Ecommerce demands speed which requires available-to-promise (ATP) information. Visibility is key to meeting that demand and speed, and new technologies will emerge to help in the future.
Some of the current technology trends are already leading the charge to innovative changes. More than half of the best-in-class companies surveyed are already adopting these new technologies in analytics, social streams and business applications, compared to all others who are 40% or lower in interest.
Regardless of where the future takes companies, having a digital platform is a cornerstone for capitalizing on new technology because it is digital. Digital is ready for new technology adoptions and having a current solution based on a digital platform is a good position to start from when integrating, merging with, or adopting any new technology.
Companies can prepare for the future now by embracing a digital GTM platform which will create the agility and flexibility needed for adopting future technologies quickly, while improving existing global supply chain management functions today.
* Survey respondents are broken down into three categories: best-in-class (top 20% of respondents based on self-reported performance); industry average (middle 50% of respondents); laggard (bottom 30%); and all others, a combination of laggard and industry average respondents.