By Krista Sterner, Event Marketing Director
COOs and supply chain professionals from around the globe converged at Modern Business Experience to connect with peers, network with experts and influencers, and learn how innovative organizations are keeping pace with market dynamics and disruptions.
The event’s star-powered roster of keynote speakers inspired attendees to collaborate with colleagues across functions and uncover new business opportunities. During the supply chain track specifically, attendees got an inside look at how the cloud is helping organizations dramatically improve their supply chains and better meet customer demands.
Here are five top takeaways for supply chain professionals.
1. Disruption isn’t just a business issue; it’s a global issue.
Disruption was the thread connecting all the sessions at Modern Business Experience—especially the powerful keynotes. Willis Sparks of Eurasia Group said it best as he discussed the state of global politics and its impact on the business climate: “Disruption is the order of the day.” His overview of major political shifts over the past 10 years illustrated just how quickly even the most established institutions can be turned upside down, and how rapidly disruption can happen. Sparks painted a poignant picture proving that companies must keep pace with customer expectations and be equipped to adapt with speed, or face going extinct.
“#Disruption is the order of the day.” Concise and insightful overview into current international #politics. Great way to start the #OracleMBX keynote. Thank you, Willis Sparks! @EurasiaGroup pic.twitter.com/6hKHWWkBrS
— Oracle (@Oracle) March 20, 2019
2. Culture is key to keeping pace.
Just as digital transformation was a common theme at the event, a common question was: “How does my organization keep pace with disruption?” The keynote presented by Charlene Li, senior fellow at Altimeter, a Prophet Company, provided insights into just that. While her presentation was packed with tactical tips and best practices, the most important takeaway was that while having a solid strategy is essential, a collaborative culture that supports innovation is critical to successful execution.
3. Different teams and functions must work together.
Creating a more collaborative culture means breaking down the silos that separate so many teams. For example, supply chain has the opportunity to work closely with finance to acquire a more granular view of product performance, customer demands and broader purchase behaviors. They can use data from both divisions to craft a detailed picture of the business today and, in turn, uncover new opportunities for the future.
4. The cloud isn’t just a technology; it‘s a new way of thinking.
During a talk on the final day of Modern Business Experience, Oracle CEO Mark Hurd explained why organizations are moving to the cloud in droves. While the cloud reduces costs and labor and improves efficiencies, it also supports companies in their broader innovation initiatives, including adoption of artificial intelligence (AI), Internet of Things (IoT), and other cutting-edge technologies. He added that the cloud is not a technology, “it’s a way of thinking of architectures and business models.”
5. Oracle is helping leaders drive their businesses forward.
Steve Miranda, Executive Vice President, Applications Product Development for Oracle noted that organizations today fall into three categories: they’ve already been disrupted, they fear being disrupted, or they want to be the disruptor in their industry. He explained in his keynote that supply chain professionals shouldn’t feel inhibited by their SCM systems. Rather, technology should empower them to move faster, transform their operations, and keep pace with new customer and market realities. With Oracle, organizations are perfecting their supply chains and moving faster than ever before.
Get ready for 2020!
Modern Business Experience was a whirlwind event that brought together the brightest and most innovative minds in supply chain today. We’re already preparing for 2020; want to see what we have up our sleeves? Sign up to receive exclusive updates and find out how we’re planning to make the event even better for supply chain attendees next year.