With each technological advancement, it becomes faster and easier to process transactions, achieve visibility and apply advanced analytics to vast pools of data. Not only does this bring previously unthinkable tasks within reach, it makes it possible to run multiple scenarios faster, in near real time, and with increasing levels of intelligent automation.
These technical innovations are transforming how the government performs vital functions such as securing sufficient stock of personal protective equipment to operate through the COVID-19 pandemic. The more critical the function, the more likely it is to benefit from advancements in artificial intelligence and machine learning because these innovations make it possible to incorporate huge databases and additional information sources into the decision-making process without delays in response time.
When we apply these emerging technological capabilities directly to the management of supply chains, the results are powerful and highly impactful. Supplier databases can make a significant difference in the safety and quality of life for its constituents.
Just as in the private sector, federal, state and local governments want access to a supplier database that can help predict potential supply chain disruptions and facilitate access to the information required to inform quick-response decisions. Disruptions may be the result of a health crisis, natural disaster or labor strike, yet despite these incidents, the supply chain and/or inventory levels of critical materials must be maintained throughout.
Moreover, since the supply chain is made up of an ecosystem of individual supply partners, having data about those suppliers in a centralized and easily accessible location along with third-party enrichment can vastly improve decision making in times of crisis.
Accordingly, leaders and decision makers will want to be able to answer the following questions in order to determine the health of ..
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