The SupplyChainBrain Podcast Getting the Maximum ROI From a Supply Chain Technology Purchase
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Dec 13, 2024 Jeffrey Luft, a Portfolio Development Executive at Siemens Digital Logistics, dives into maximizing ROI from supply chain technology investments. He discusses essential factors for justifying these investments and the importance of cross-departmental collaboration. Luft highlights strategies for identifying technology gaps and emphasizes effective stakeholder involvement, particularly from the Chief Supply Chain Officer and CFO. He also covers the evolution of affordability in tech solutions for smaller businesses, stressing the need for data security in cloud environments.
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Challenges in ROI from Supply Chain Technology
- Companies face challenges in getting ROI from supply chain technology projects due to competing priorities and siloed organizations.
- IT and supply chain departments may not be aligned, hindering successful implementation and full visibility.
Justifying Tech Investments
- Start by identifying technology gaps and process failures in your supply chain.
- Determine which technologies can address these specific problems, like a TMS replacing spreadsheets for transport management.
Calculating ROI
- Calculating ROI involves analyzing current spending, like inbound transportation costs and breakdowns by mode.
- Projecting potential savings in dollars, lost sales, or customer satisfaction by implementing new tech tools can justify the investment.