How Experience Management can keep a pulse on your supply chain
With the changing landscape around COVID-19, we’ve launched a free product to help organizations better understand the current and future risk to their supply chains. The Supply Continuity Pulse is part of our Here to Help effort during these difficult times as we look to use the power of Experience Management (XM) to help organizations and individuals around the world.
How does XM help supply chains?
If this is your first introduction to using XM as part of your supply chain or vendor management efforts, you’re probably wondering what it brings that you don’t already get in your supply chain management platform.
To begin with, XM is not a platform. It’s a set of capabilities that weaves across your entire operating fabric. It’s is defined as:
The discipline of using both experience data (X-data) and operational data (O-data) to measure and improve the four core experiences of business: customer, employee, product and brand.
Existing supply chain solutions are great at managing O-data like order status, pricing, schedules, and shipments — that’s what they’ve been designed and fine-tuned to deal with.
But they don’t handle X-data — that vital information about what people are thinking and feeling. The combination of X-data and O-data provides a deeper understanding of what’s happening across your supply chain, and helps you spot important emerging signals of change quickly.
X-Data is an underused supply chain asset
X-data can shine a light on key trends, potential problems, and emerging opportunities long before those shifts can be detected in your O-data. Many companies are missing out on these key insights from people throughout their supply chains.
Organizations need to be able to tap into X-data at every tier of their supply chain, from sub-system providers to component vendors. The people in these organizations can provide a plethora of valuable information, including:
- Observations about supply changes that may be coming down the line
- Recommendations about improvements or changes to make
- Sentiment about the way you’re managing your vendors
- Feedback about any new approaches you’re trying
XM helps make supply chains more flexible
With the COVID-19 pandemic shutting down parts of the economy and forcing new virtual work modes, entire supply chains are being reshuffled. Companies need to keep track of what’s changing with their customers, distributors, employees, and suppliers, and then quickly make adjustments based on an ongoing set of new realities. In this dynamic environment, it’s critical to find and quickly respond to leading indicators.
That’s what XM is all about. The combination of X-data and O-data can shine a spotlight on critical emerging signals. In these times of change, XM is an even more valuable as it helps your organization build three capabilities:
- Continuously Learn. XM helps you more effectively sense and interpret what’s going on all around you, collecting and analyzing signals from the actions and feedback of employees, partners, vendors, customers, and even competitors. The people in your supply chain are seeing things long before they show up as shipment delays and shortages.
- Propagate Insights. XM helps you put actionable intelligence in the hands of people across your organization’s ecosystem who can use it to create seamless access to the right information in the right form, at the right time. If there’s a risk to a shipment, you need to get that information into the hands of all of the people who need to know about it right away.
- Rapidly Adapt. XM helps you act on the insights you uncover at a faster pace, finding ways to create new experiences and improve existing ones quickly — something that’s more important than ever as supply and demand shifts take place during this crisis.
Rather than waiting for supply shortages to occur or to miss the opportunity to pivot your operations towards a popular new product, tap into XM. In this highly dynamic market, the XM discipline helps you address these types of questions:
- What supplies are potentially running low, and how can you proactively adjust priorities with customers to account for the shortages?
- What problems are your suppliers running into, and how can you work with them to avoid any disruptions?
- What components are suppliers seeing gaining momentum, and how might that signal an opportunity for you?
- What emerging needs do your customers have that aren't being met, and how can you collaborate with vendors to create new offerings in those areas?
- What product and service features are most important right now, and how can you adjust your development and supply chain accordingly?
Start Building Your XM Capabilities
If you’re new to XM, check out our Here To Help page. We’ve created a number of free solutions to help organizations start using X-data to help navigate this difficult environment.
- Supply Continuity Pulse XM Solution to better understand what suppliers are seeing.
- Remote + Onsite Work Pulse to better understand how your employees are dealing with the new work environment.
- COVID-19 Customer Confidence Pulse to better understand how the situation is impacting your customers.
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