Strategic investment aligned to business goals

Investment in technology can help logistics companies gain a competitive edge, simply keep up with the industry or end up being an expensive mistake. Business gurus advise managers to ensure that they choose technology that supports the company’s business objectives, which would include improving customer service, reducing costs, enhancing supply chain resilience, or accelerating growth. “The impact of technology choices cannot be underestimated,” advises Valeriu Crudu of MoldStud. “While opting for cutting- edge tools may seem appealing, it often brings unforeseen expenses. “According to recent studies, nearly 60% of businesses reported unplanned costs due to technology decisions. Weighing the benefits against potential pitfalls is essential for a successful venture.” There is no magic formula or technology to achieve all business goals at once. Managers are advised to prioritise the technology that solves the most important supply chain challenges and offers measurable return on investment. It should address specific supply chain pain points that the technology will resolve. Priority should be given to solutions which are compatible with current systems and operating procedures. New tech may require investment in training and the revision of the way the company does business. “People’s roles will change to utilise their most human qualities of empathy, communication, interaction and strategy,” according to Junaid Zahid, the senior product marketing lead for SS&C Blue Prism’s Next Generation platform and generative AI initiatives. “Digital workers handle the work employees shouldn’t have to do, and customers get more personalised, digital self- service options. “This tech can empower people, from front-office automation to back-office automation and beyond.” Returns on investment can be calculated using data-driven projections and case studies. Risks can be managed through phased implementation. ER