Companies are turning to technology and digital transformation to manage disruption.
Spending on digital transformation is at its highest ever, with projections expected to reach $3.4 trillion by 2026, double that of 2022’s spend.
Why are investments rising so quickly? As companies grapple with historic disruption, technology and digital transformation are helping them regain their footing and work towards a more resilient and connected future.
At Catena Solutions, we've kept our finger on the pulse of transformation and technology trends at supply chain-based organizations, especially in the food and beverage and CPG industries. Keep reading for our roundup of related insights, case studies, and industry news.
Digital transformation is moving slower than intended. Data and analytics can speed it up.
It's clear why companies are focusing on transformation to build strong and effective supply chains: Bringing digital transformation to the supply chain can lead to a 20% increase in revenue and a 50% reduction in process costs.
However, despite its importance, COOs listed digital transformation initiatives as the second biggest challenge they face, second only to worker shortages and employee turnover.
In our Supply Chain Trends & Insights: Transformation report, we dig into the roadblocks impacting transformation efforts and how companies can harness the power of data, analytics, and change management to help.
System implementations are inevitable in digital transformation initiatives.
With digital transformation comes the need for new systems.
Trends rising to the top include automation and software-as-a-service (SaaS) tools that enable organizations to gather real-time information via the cloud to drive business initiatives. Companies are also replacing legacy systems that are holding up improvements across human resources, manufacturing, procurement, and finance.
In this blog post, we explore the top systems implementations our team saw in 2023.
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Which skills will drive transformation forward?
Research shows just 44% of CSCOs think they have adequate specialist talent to evolve in the future, and only 38% believe their organization’s non-IT workforce is ready to leverage new technology. Additionally, of companies engaging in digital transformation, supply chain professionals rank the people and skills deficit as the top obstacle.
For businesses to drive supply chain initiatives forward, building a workforce that embodies key data, analytics, and technology skills is crucial. Read this blog post to learn more about the skills essential to create the supply chain of the future.
Transformation in action
At Catena Solutions, we've supported numerous food and beverage and CPG companies through transformation initiatives. Check out our relevant case studies below.
Repack Transformation Strategy
Catena Solutions led a global food company through their automation-focused repack transformation, which will save the company nearly $2 million, boost capacity, and optimize their plant workforce. Learn more.
Visibility for Supply Chain Finance
For a snack food company, we developed a suite of dashboards to create greater finance and supply chain visibility and provide business leaders with the data needed to drive quick decision making. Learn more.
SAP S/4HANA Implementation
Our team identified and fixed incompatible processes and inventory systems while supporting a client through the implementation, business continuance, and go-live from a legacy system to SAP S/4HANA. Learn more.
Technology and transformation news