Event Transcript
- Welcome everyone to our MicroMasters in supply chain management life event. This is our big event for this fall... When almost everyone is back to school. So today we will be discussing a topic that I'm personally passionate about. This topic is supply chain management, as you can imagine. And today we will be discussing this topic for many different reasons. First, the pandemic brought many disruptions to the world. One constant during the pandemic, has been the role of the supply chain during this challenging time. Just to mention some examples of the pandemic related issues that brought the attention to supply chain management systems, are the stores running out of toilet paper, and hand sanitizers. The container ship has stuck at the Suez Canal last March, 2021, or ports closed in China, or the congested ports that are affecting many supply chains now, I don't know if you are planning, or recently bought some piece of furniture. Probably you're waiting months to receive this chair, or a table or something like that. So companies have been facing many challenges. Many challenges related to manage their inventory system. Just to mention a few of them, empty shelves, the extract costs associated to the bottleneck, and all of these inventory management related issues. So professionals from different fields, let's say marketing, finance... Realized that they need to learn more about supply chain management. And we are observing an increase in the demand of supply chain management education programs. From online certificates. From credentials, master's degree, and many different offers. According to Bloomberg, a couple of weeks ago, they were a just saying in the top of the news, that supply chain management in these pandemic areas must have MIT, or a masters degree. So we are fortunate to have today two supply chain management experts. This is an opportunity for you to learn more about their experience, and learn more about how they are dealing with this supply chain management challenges today. I'm talking about Adam James. Adam is the Vice President of Surface Transportation, at C.H. Robinson, North America. We're very happy to have you today with us. Adam, thank you so much for joining us today.
- Thank you, Eva.
- Excellent. Thank you. We are also very fortunate, because we also have Gabriela Lamas. Gabby is the Director of end to end data analytics at Johnson & Johnson. Thank you so much Gabby for joining us today.
- Thank you, Eva.
- Excellent. All right. So now what I'm going to do is just to present the plan for today. We are going to start learning a bit more about Adam, and Gabby background, and also their supply chain management journey. I think both of them have great stories to share with us. Then we will be discussing the current challenges in supply chain management, and the technical content, and those skills, and attributes that professionals are looking for... New or future supply chain professionals. And finally we will end the event looking at the future. Looking at the future of work, and of course the future of education. So this is the plan for today. And I also forget to introduce myself. I'm Eva Ponce. I'm the Executive Director of the MITx, the MicroMasters program. I'm also a research scientist at MIT, the Center for Transportation and Logistics. So with that, let us start with Adam. So Adam, would you mind to share with us a little bit more about your background?
- Absolutely. Thank you. And thank you everyone for joining today. Again, my name is Adam James, I work for C.H. Robinson. For those that don't know who Robinson is, we're one of the world's largest logistics platforms, and move billions of shipments around the world each and every year across a variety of industries. From small companies, to some of the largest companies in the world. My journey in supply chain started with Robinson about... Almost 20 years ago now, coming out of school with an undergrad degree in both English and History. So I knew very little about logistics. I knew very little about supply chain. I started in our Intermodal Division, and then about eight years ago was asked to move into a role, which at that time we called solution design. And a lot of that was both internally our business was getting more complex, but externally supply chains were getting increasingly complex, and our customers were really starting to ask for different things from us. So that was probably the biggest "aha" moment, in terms of how these things fit together. And certainly I continue to learn, but it's been very important for me to gain some of the knowledge that's been offered by companies like MIT to bridge a gap that I certainly have had since I didn't come out of school with any sort of supply chain background, or knowledge, but it's been a great journey. Supply chains, to your point, have been extremely chaotic this year. So we continue to look for ways to bring value to clients despite some of the frustrations that exist today. So thank you again.
- This is wonderful Adam. Thank you also for sharing how you approached SCM the very first time you realize. How about that? That's awesome. So Gabby, same thing. Can you please share a little bit about your background in this topic? Thank you.
- Absolutely. Hello everyone. My name is Gabriella Lamas. I go by Gabby. So I am an end to end digital lead for one of our supply chains within Medical Device at Johnson & Johnson. So I started my career in supply chain a bit... Almost nine years ago now. I have a background in biomedical engineering, and never did I think that I'd be getting into supply chain, but I took a co-op in manufacturing way back, and just started to learn what it meant to make products. I was in an emergency room, and I actually got to see Johnson & Johnson product being used. And it was that aha moment of, oh my goodness. I love the fact that I know where this came from. And that's what kind of started my path into supply chain. I then entered into Johnson & Johnson as part of their Global Operations Leadership Development Program, where I got to spend the next three years really exploring what is supply chain? So I worked in new product development, launching new products. Then I moved over into our consumer sector, and I worked on our Walmart team. Where I learned about the whole world of logistics, and what it means to keep inventory in stock at Walmart. And then I went back into operations, and worked in our pharma sector, where we make various different drugs. And I worked as a supervisor on the floor, looking at ramp ups, et cetera. I then spent the next few years really working in new product development, and launching new products around the world. And that was specific to Medical Device. And that's where I really fell in love with what is supply chain, and that end to end connectivity of not only designing a product, but what it takes to actually make it, and take it out the door, and make sure our customers get that. Then I guess what linked me to SCM though is with all of that, and my love for the end to end supply chain, I had the opportunity to go to MIT, and take part of the SCM program. Where I spent a year diving into the new challenges, and new opportunities within supply chain. And did a focus in digital and data science. And that's what has led me to my most recent role with J & J.
- This is amazing, Gabby. Thank you for sharing that. And also I can imagine that you are not bored in your current position. Anyway, that's great. Thank you so much. And also Adam. Adam completed the entire MicroMaster credential with us. So congratulations on that Adam. Okay. So let's now learn a little bit more about our audience. Let's see how familiar you are with supply chain management. And which field or area are you working? Let me launch the first a poll. I'm going to launch it right now. Please take the time to... Yes. A few seconds to fill the poll, so we can learn a little bit more about you. Customize this events a little bit more for your experience. And in the meantime, let's continue knowing more about your personal journey, and your personal stories. So... Adam. I'm going to start with you. What was this moment in your professional career, or education when you realized that supply chain management really reaches out all aspects of the business, and was not just one silo in the company, or just one function independent of the other. When do you realize about this interconnection between supply chain management and the other business areas, and the importance of supply chain management?
- Yeah, absolutely. I would say my first introduction... I alluded to this solution design group, and some of that was born out of our implementation methodology. And what I learned as we were... And again, I work with lots of customers, probably hundreds of customers over the last three to five years. And when you implement any sort of technology, and you're looking. And Gabby certainly can speak to this probably better than I can, but this whole idea of digital transformation, and bringing in a platform. When I saw our implementation team doing their work, and realized that everything cascades from a decision point. And while sales may be doing one thing based on how they are going to market. It's definitely going to have implications on how operations interacts with that. So really our implementation methodology was built on a cross-functional approach to bringing this to bear, because if you don't have buying across all of the different functional groups, it's likely that you're not going to achieve the outcomes that you expect. And I think that's just been heightened over the last number of years. While we may have started down a path eight years ago. I'd say today it's not a differentiator, it's expected that you find ways to bring value to people outside of what you might historically have considered an operations or supply chain role. I don't even know that those terms really exist anymore, because more and more companies are just realizing that everyone plays a role in their ability to bring product to market. And all of that is really supply chain.
- Definitely. And you made a very interesting point, because in the past was operation management, or logistic department, but now we are talking about supply chain. And this means, by default, that we need to interact with the different functions, and areas in the company. Great, thank you for sharing that Adam. In your case, Gabby also, you are in digital transformation, so you are every day working end to end supply chain at Johnson & Johnson. Was any special moment, or any specific story you want to share with us, when you really realized, Hey, supply chain management is truly affecting different areas in the company.
- I would say my first aha was when I was working with new product development, and launching new products. When you are, when you are hearing that you have a deadline to meet, and your customers are expecting that product. The number of people that are involved. From people, from your suppliers, to the people on the floor working to get the product made and out the door. To getting it packaged, to getting it to the distribution center, to then getting it shipped, wherever that may be, to whatever port around the world. And then it needing to hit the salesperson's hand, and to go out. And there's so many connections that have to be made. Where people have to collaborate and work together. So I think that was my first... Wow, this is really, really connected. And then I would say the second is when I've had roles that are customer facing, and you hear what a customer is asking, and you start to think what it would require, to really put that in front of them. That also starts to trigger. It's not just one group, it's a whole chain of people that are involved.
- And I also love that you are bringing customer first. I'm from customer, all of the implications that are behind that in order to make this possible. And mainly the number of factors. The number of suppliers, the number of third party logistics providers, and the many people in both in making this possible to deliver this product right on time with the quality, and with all of the things that the customers are demanding right now. Okay. And another thing I want to bring to both of you is one of the thing we are observing, and this connect a bit about my introduction about the pandemic related issues, and that tension that different areas are having now on supply chain management. We are also observing this evolution to consider supply chain management from this Cost Center. Just to be a generation of cost, versus supply chain management as a way to be able to compete in this challenging world. And are going to create value. So have you observed this evolution in the area, in the field from this being just considered a Cost Center, to bring more value to the entire business? I will go with you, Gabby.
- Yeah, I'll Jump in on this one. Talking from a digital transformation perspective, and I think COVID really broke down a lot of barriers, in the sense of what the customer expects. Very quickly, we were forced to just go online. So where we were thinking before, we need to go start this digital transformation. We know this is a priority, but how do we go about, to all of a sudden, it's a reality. Where's our data? How is it connected? Wait a minute, it's not connected. Our customers are expecting to know information about their product, and where it's at right now. They're expecting a more personalized experience. And a lot of that has to do with how our systems are connected, and how we are also connected in terms of functional groups as well. So I think in terms of a challenge, and how we're starting to see the change in the evolution of supply chain. Is this notion of moving away from working siloed, and being connected not only through our functional groups and how we work, but also through our systems.
- Yes, this is a great point. This movement from being a silo to be just part of the integrated function in the company. Awesome. Anything you want to add here, Adam?
- I was just thinking, and maybe I'm getting a little bit ahead on our topics, but the income statement and balance sheet has... I mean, it's always been important, right? But I feel like if you follow many public companies, more and more supply chain continues to get into that commentary. Which is a key indicator that C-level executives are recognizing the impacts that it has both the top line and bottom line growth. As I think about as we continue to build skills, a better understanding of how the decisions we make do actually impact those key financial metrics, is gonna continue to be important. And I think has gained importance, and a big reason why it's not thought of so much as a Cost Center anymore, because people are realizing how do they extract value to their shareholders and their customers, and leveraging the supply chain in that manner. The other thing I was thinking about is a big topic that I continue to see is some of the social impacts that supply chains are playing now. And again, as an executive, things like the environmental sustainability. All of those key things. Also on the flip side of that, the regulations, and the tariffs, and other things that are happening. All encompass decisions that are made in the supply chain. So now you've got topics that are again maybe outside of what would historically been inside of a supply chain field, but now people are realizing how impactful the supply chain is to those strategic decisions that may fall outside of your "core product", if you will.
- Yeah. I really liked the connection you made in between those supply chain management decisions through other areas, and this impact on finance. For sure that is more and more present than in the past. And also we effected external actors, because as you mentioned, the social impact is something that now, all of the actors in the supply chain needs to care. If we don't do this in a collaborative way, it's very difficult to take care of the social impact, that at the end these supply chains are having. Great point. Let me share the results of our audience. So we know in which field our audience, they are working. And we have almost 50% of the participants today in the supply chain area. So that's great. 8% in manufacturing, and some of them in the retail, finance, marketing, and deferent areas. Most of our participants today are in supply chain. Which is great. Perfect. Okay. So let's move now into the current challenges. You are facing those challenges that we started discussing in this event. So, Adam. What are some of the most difficult challenges you face right now in your work.
- And maybe I'll respond to that by representing the customers too, that I interact with, because I think we're all in a similar position. You've got the day-to-day operational challenges of getting product to market. Gabby talked about launching new product, but even existing products, and trying to figure out where inventory is. And are you going to have inventory available? That that is just a day-to-day challenge. I think the, the flip side of that is kind of the long-term strategic planning of things like digital transformation. Gabby's in a unique role, in my mind, because I haven't heard of a lot of companies investing in that way, but every company wants to accomplish it. And I think that they really struggle with how do they prioritize, and implement, and really sequence building a digital environment, because there's a lot of things that they have to challenge themselves with. Including just down to the core of their master data, and getting some of that foundational stuff right. The other thing is there's a big competition for talent right now, and that is gonna, at least in the near term, and maybe it's a long-term challenge as well, but whether it's our organization, whether it's companies that I talk to friends, family, whoever I'm talking to. It seems like there is a lack of talent, and there's a high level of competition for it. So those are just a few things I could probably go on and on if I wanted to focus a whole lot on the challenges, but I'll stop there.
- Yeah. So the lack of talent, this is something that definitely, I very interested to talk to you today, because definitely it's a lack of talent in many different areas, but also in supply chain monitoring, I want to connect this, and these challenges that you mentioned, like strategic planning. How to go to have this strategic planning in these challenging time that is with more uncertainty than ever. How to do that. So this is something that definitely it connect with this. what are the technical skills that practitioners are looking, in our future supply chain professionals. Let me launch this poll to the audience, and see what they think about what are these technical skills. I'm going to launch that. While the audiences answering this poll, Gabby, what is your perception on that? What are those challenges you are facing? And what is the connection with the technical skills that you need to have in order to face those challenges?
- Great question. So I would say, and I've alluded to this... COVID has created a lot of problems for supply chains. We see it in the news everyday at this point. Whether it's weather, whether it's an actual disaster, whether it's somebody you could never have expected. It's creating so many issues on the end to end. whether it be on from the suppliers, or whether it be around distribution at the end of the chain. So while that is going on, and we're just all trying to battle that, and just tryna to get product out the door, and to our customers. At the same time, our customer expectations are also changing, and they're expecting more. So even though we're still trying to handle everything that COVID is impacting on our supply chains. We're also handling the newer expectations that our customers have of us, right? So that's the whole point. And I'm speaking to digital, 'cause that's where I'm at right now. But that's where this need for us to have talent, that is data savvy is critical. We need people that can work across multiple different functional areas, and can move quickly. We need the agility, we need the adaptability. We need people that can see things from multiple different angles, and be able to connect those dots in order to problem solve quickly. That's what I would say from a challenge perspective. We're being confronted with the reality. The reality being that we have systems that are outdated, or we have data gaps, or we have opportunities in just the way that we work. At the same time managing what's happening, while what's also coming up strategically. and what are we going to be doing about it? So from the talent perspective, like I mentioned, it's that data savvy, in my opinion. We need people that know how to work with data. Whether that be it with programming, whether that be with being able to do statistics really really well. You just need to be able to analyze what's going on.
- Yeah, great. This is a great point, Gabby. The digital transformation requirements, and also the data savvy. To be ready to analyze this data that is available now, and so needed in the companies. We recently launched at the MIT Omnichannel Education Lab, a survey, and we asked practitioners about... Hey, which are the technical skills you looking when hiring and supply chain professionals? And we receive the answer. It's a preliminary results of course. Is the answer from 160 practitioners. It's interesting. I connect very well with both of you with the fields that you just mentioned. Let me share this screen on that. I want to connect that, because we asked about what are the technical skills you are looking for, and what are those that are hardest to find. And there is that correlation between both. and they agree that digital transformation is the top one. Supply chain strategy, something that also you mentioned, Adam. When talking about that, and data analytics, and data modeling. And these three and the fourth one was supply chain risk management. But these top three are also the hardest to find. This lack of talent that Adam also brought when he respond to this question. And I just want you to connect here, that some of these topics we are covering in supply chain technologies and system. Like the digital transformation machine learning techniques, a little bit of data analytics. We have also some of the operation management, sales and operation, long-term planning that also Adam mentioned. And transportation management in supply chain fundamentals. The course that just opened this fall, and supply chain design. So just to bring and connect, these answers and response that we have. With what you just bring here. I also want to connect briefly with this soft skills, because definitely there are also these kind of skills, like problem solving, critical thinking, negotiation, communication. So I want also to have your thoughts on these soft skills. What are those that are you really looking for now when hiring.
- Am I going? Am I first? So in terms of something, and we've talked about adaptability, and resilience, a lot of agility. A lot of the terms that we might use for a supply chain, I think you could use for an individual, right? But just one thing out of many, and then I can let Gabby answer as well. But one of the things that we've focused on as a team earlier this year is on storytelling, which you might say, storytelling? That doesn't seem like kind of a business application, but you're finding more and more people talking about data story, and being able to tell stories with data. There's a skill to being able to pull out the signal from the noise. There's probably tons of cliches we could use here, right? And be able to explain that to an executive, or to a potential customer, or whomever. An internal department to get them to buy into... To wanna change, and do all those things. So there's a component of communication that I think still exists through all of this. while the data, and the automation, and the digital can certainly turn out a lot of lights, and help paint the picture on how things look. You still need that story behind why it matters. So that's just something that we personally have thought more about recently, and... Like going back to my English roots. So that's been kind of fun too, but anyway.
- I love how you connected this data need to be informed. This data informing decision-making with communication and storytelling, because definitely is the way we need to incorporate this data that we are analyzing, to better inform our decisions. But differently how to communicate, and convince on that is not an easy thing. So I love how you connect these two things. The data need with the communication, or storytelling side. Great. Gabby, any thoughts on that from your side?
- A hundred percent agree with Adam, on the storytelling. And I mentioned it earlier, but the ability to be agile, to be adaptable, to be able to problem solve, and make decisions. I think risk management... I think that's a skill that's very important is how to evaluate the risks, and how to make a decision to move forward. Any addition... And I think this would be the last one, is to be curious. I don't know if that would be a soft skill, but... We are now getting exposed to more and more new technologies, new opportunities, et cetera. And we have so much information at our fingertips. So how someone is curious and continues to learn, I think is critical. And I know it's something that I look for in talent, is are they willing to continue to learn? Are they willing to drive new solutions forward, and to challenge that status quo?
- Yeah. Great point. In the study we conducted, the respondents said problem solving as a top one, collaborative working, communication, connecting with a storytelling, and agile and adaptive thinking. The one that you just mentioned that is also a very, very required now. Let me share the results of the audience, and see what they shared with us. So almost 75%, said new technologies and trends, and digital transformation as these top technical skills that they identify. e-commerce and only channel proficiency. This is another trend we are also observing at the center, and it's because of the growth of e-commerce, the growth of mobile commerce, and the need of integrating the different channels, that is bringing a lot of challenges to many companies. And to count on external logistic providers, like C.H Robinson, to integrate in those deliveries. Last mile delivery is one of the top top challenges that many companies has now, so interesting. And transportation management. And I guess transportation management also is related to these last mile delivery challenge that many companies has now. This is great. And I want to connect now with... Because you also mentioned, Gabby, curiosity. And definitely curiosity also connect with this lifelong learning, and this need of being continuously learning, and learning new tools, and new techniques in order to be ready to compete in nowadays. So I'm curious about and going to land now, the poll number three, about how people learn. How this is transforming the needs now. I mean here, does people prefer to learn just virtually, or come on campus, or be trained in their companies in person, or a combination of both. Some part in person, some part virtually. So let me launch this poll about how we see ourselves, and also our employees learning newer skills. So what are your thoughts on that? How do you see yourself or your employees learning these newer skills that they need to know? Let's go with Adam.
- I would say for us, that we probably think about all of the above. We really focus on personal development plans, and giving opportunities for our people to continuously learn and develop. So what I would say is that's a combination of in-person, probably less so over the last 18 months, two years, but there is a component of that. A lot of virtual. I would say that the virtual learning, and I would give kudos to MIT and the MicroMasters. And that's been one of my primary experiences with doing it. It's gotten really good in terms of the ability to learn, and to measure yourself, and things like that. As that continues to improve, I'm sure we'll do more virtual. And then I also think the experiential component of learning is still gonna continue to be a big part of it. Taking the academia, if you will, and actually seeing how those scenarios play out in real life. And certainly there can be differences, and there are best practices, and there is a reason to know the academia, and then there is the: how do things actually work once you get inside, and you're dealing with people, and challenges and all of that stuff. So there's a component that the on the job type stuff... We need to continue to think about ways to give people those opportunities to be presented with those real life challenges.
- Yeah. Yeah. And I like your answer all of the above. It's really, we are seeing now this also omni-education. The different modes, and using the different modes, depending on our needs. Great. Gabby, what role do you see, or foresee education playing in helping to solve these challenges that we already identify?
- I see education is critical. I think I mentioned it earlier, and it has to do with staying curious. Like I said earlier, there's just so many new emerging capabilities. There are so many new ways of thinking. There's so many new ways of approaching problems, and there's an opportunity to learn from each other, not just in the classroom, but also globally. Because we can be connected virtually. And I think that is something that is so unique. I think it's really cool. I think it's really special. where we can leverage, what people are learning from different parts of the world, and from different parts of the industry. So for that, I think education is critical. I think there's a need for talent. Adam mentioned it earlier, there there's a resource gap. And I think that a lot of that's gonna be filled as people continue to either go to school, or go back to school. And continue to further their education, and look at new ways of getting plugged in.
- Yeah. Great answer, Gabby. And I also want you to connect that with the future of work. we reviewed the recent report about the future of work. They declared that hybrid formats are here to stay. Suggesting that hybrid remote work would continue in level 4-5 times, compared to its level before the pandemic. And this is something totally aligned. What we found also in our survey of the future of education. We found that 40% for respondents consider only virtual learning, When they think of in the education in the next 5-10 years, and 43% consider hybrid modes in the future of education. Let's have a look to our audience, and see what they said. So we have 58%. Almost 60% said... Let me share the results now. Yes. Almost 60% said hybrid, in person and virtually, this combination. 20% combined virtual on-demand, and virtual live session. This is the asynchronous live session, flexible, on-demand, with those that are live real time indefinitely, that this happen in person, or physically. Great. Perfect. So that's awesome. By the way, this is for the audience... If you are interested in participating in this study, my team is now sharing the link, through the chat. So if you want to share your thoughts with us, please feel free to do that. We are happy to analyze your results. Okay. So yes, we are just heading to the end. I'm fascinated about your answers, and learning a lot from you both. So my final question is, what do you think the next 5 -10 years... Again, we are looking at the future now. These years will bring to the relationship between businesses and supply chains. How do you see supply chains evolving in the next 5-10 years? let's just start with Gabby.
- Okay. So I would say in terms of evolving, I think we're gonna see more integration of supply chain, and strategic decisions that are made by the business. And a lot of that I think has to do with what I mentioned earlier around what customers are asking, whether it be around personalized experience, or needing to know their information now. A lot of needing to know your information now, that's gonna stem from the supply chain, and the way that we're connecting that personalized experience, and how that's made is once again, gonna be based on what the supply chain can do. So I see that, really more than anything, is just a further integration into those business decisions, and that end to end thinking.
- My comment to add to that, and integration is a great term, and it was similar to what I was thinking. I was thinking along the lines of just how transparent things continue to become, and as people improve visibility. The idea of business might be how they're all interlinked.. I think we still think of a business as kind of a single cell organism. Without thinking about all the suppliers and customers. Now we're getting to a point where that is getting more transparent across the entire supply chain. So I just think with that integration and more transparency, there'll be greater opportunities for companies to... To do more... More unique creative things. Things that I think have been talked about for a long time. When you think about SCOR model and other stuff, but haven't truly been able to be implemented, because of lack of information, and some of the clear gaps in information. But as those get closed, it'll be fun to watch how companies come together. And now maybe they're making strategic decisions together across, maybe, multiple businesses. As opposed to just even one single entity.
- Love that. I love this... Cross-functional inter organizational, and internal organizational thing that you are bringing here. This is cross-functional are elevating supply chain management from this silo to this being cross-functional integrated with the businesses' strategy. This is another good take away for me from your conversation and this end to end visibility, transparency that we need in order to be able to, meet the more demanding customer expectation. that is increasing every single day. So very interesting also to see this evolution from supply chain. from being a cost center, to be truly generating, and having value connecting with the business strategy. And with this transparency that you just mentioned, Adam, I just wanted also to end this events encouraging the audience to continue their learning journey. There are many ways to learn now. You can learn from home, from work, coming on campus to many different facilities, and there is an incredible offer outside on supply chain management. So I just encourage you, if you are curious, if you want to learn more, just join some of the great programs. Of course, at MIT CTL, we have a bunch of offers in supply chain management. There are many also outside. Just encourage you to continue your lifelong learning journey. This is something fascinating. I also wanted to thank our incredible panelists for sharing your experience. I personally learned a lot today from your experience on your current challenges, and what you are looking into the supply chain professionals. So thank you so much for that. I think we have a couple of minutes. Let me see if there is any outstanding question from our audience that I can bring to you. And we can then wrap up this event. So let's see. There is one question from Arthi. she's asking, can't you talk about the specific challenges around adopting a AI. A machine learning techniques into your supply chain, and outline some approaches that work for adopting value realization at a scale. Who wants to take this one? Gabby, this is your area.
- That's fine. This is up my alley. So I would say, number one, when it comes to adopting AI, you have to have data. So lets start there. And I think that's a reality that sometimes we tend to overstep when we think about our supply chains, but the reality is that a lot of our supply chains were built a long time ago. And the way that they were built, they weren't always collecting data thinking I need to be digitized, and I'm gonna be using this data to make decisions that impact my whole supply chain, right? So the first thing is... You need to digitize. You need to have data, and you need to make sure you have good data, and that the data is connected in a way that it can be used in a sustainable way, right. beyond that, I would say using artificial intelligence, and really just advanced technologies in general in this space. You need to have the talent, that's best for sure. And you need to make sure for the value realization that you're addressing a business problem. I think we saw her for years around digital transformation, the technology push. This is a really cool piece of technology... We've gotta use it, and you weren't always thinking, but what's the business problem? What do I need to solve? And that's where the prioritization, I think that strategic piece that Adam brought up earlier, is super, super important. Is using digital to really solve your business problems, with how you enable the business to be smarter.
- Yeah. Great. I have a good question from Lucas, Adam. that I think is connect very well with some of the things you shared today. He's asking for, which are some of the tangible changes, improvement you have experienced since the introduction of data science, data analytics in supply chain management.
- Sure. I think there's a couple of things. There's certainly the operational improvements. So driving efficiencies in your business, taking cost out. All of that has very tangible benefit. The other part of it a lot of what Gabby described, was this customer end of it. So more and more, there are just expectations that consumers have as we've become less B to B, and more B to C, and that end customer experience, even if you work for another business. I take how I like to buy to my company, and to what I buy everywhere, Right? While there may not be as many tangible things that you can always pinpoint. There's table stakes that are starting to come up, that if you want to be "a player" in the game. If I can use that cliche term. You just have to have some of these foundational things, because people expect them. And if you don't there will be disruptors. And that's one of the things that we're seeing a lot in our business is new disruptors coming in that get to start without maybe all of those outdated technologies, and without all the data cleanup that they have to do, versus some of us that have been around longer. The companies that are maybe more established out there, they might have to do more infrastructure work to get them to a point where they can jump from. And so it's harder to see that. I think that's what's hard with executives making decisions in these areas is, because investments that you make now may not be seen for another three to five years out. And so you have to be really courageous in taking that step and saying, I'm gonna invest money here, knowing that I may not see the real tangible return, but I believe in that tangible return. So I could go on and on about that topic, but I'll leave it.
- No, but definitely. And its a risk that you need to take in order to move into that. Definitely. Thank you so much, Adam, Gabby for your incredible participation. Today was amazing. Thank you also, for helping with this event, and conducting the event. Thank you everyone for your attention today.
- Thank you.
- Thank you. Take care.
- [Gabby] Thank you everyone.