Practically every business is – in one way or another – working to reduce supply chain costs. Be it operating costs, freight and logistics spend, buffer stock, or the countless other revenue leaks.

In the grand scheme of things, revenue growth and cost efficiency are quite complicated and a balancing act to master. The cheapest options are not always the best options; beneficial actions in one business unit may harm another; and optimizing within silos and is not really optimization.

As supply chain leaders work to recover revenues and drive customer loyalty, business growth, and competitive differentiation, it will be vital to invest in systems and processes that break down silos, better balance priorities, and optimize the supply chain end-to-end.

The shift to remote work has left a majority of businesses technologically underprepared – and remote work is only the tip of the iceberg when it comes to structural changes.

There’s a renewed urgency for digital transformation, especially in supply chains. A recent PwC COVID-19 Pulse Survey revealed that 72% executives believe their companies will benefit from resiliency and agility in the long term, with nearly 50% expecting long-term benefits from technology investments and new ways to serve customers.

Digital transformations offer supply chains incredible opportunities to minimize risk and revenue loss by maximizing efficiency, customer satisfaction, and business growth. Digital transformations are also often daunting to approach and sell internally.

That’s why it’s vital for businesses to start with investments that yield the fastest and most valuable results.