What Are the Challenges of Media Supply Chain Management?
The physical supply chain alone comes with a plethora of challenges, add on top of that the factor of the digital sphere and you can imagine the challenges of digital media supply chain management that exist.
The following are some of the top challenges with media supply chains and the management of them:
Consumer expectations on accessibility
Consumers have come to expect that all content should be accessible on any device at any given time where the company needs to adopt siloed systems and processes to meet customer demands and expectations, resulting in increased costs.
Large variation of formats and metadata
Due to a lack of widely adopted standards, a large variation of video/audio/other content formats and metadata are being used where an effort in handling them is increased.
Increased complexity when more service providers become involved
As additional service providers become involved in the media supply chain, there will be an increase in the propensity to outsource key content processing tasks. This will, in turn, expose the company to new risks such as compliance with regulations or business continuity.
Lack of visibility to end-to-end content
Content might either be spotted too late or not at all, or the company lacks the ability to be able to properly prioritize content to manage, resulting in operations failures and/or reputational risks which can lead to loss of sale and/or customer confidence.
Lack of capacity planning
When a burst of demands arise it can be tough to handle the increase, resulting in lost sales and/or customer confidence. The same principle applies when you see a decrease in business and instead a lot of resources go to waste since there is no one to use them.
Lack of industry-wide benchmarks and KPI:s
Without any concrete benchmark it becomes hard to determine the quality of one’s service. Being in the dark about this, companies risk investing in technology and processes that won’t add any value.
Service provider relationships based on throughput
By having one’s service provider relationships based on throughput (quantity) rather than outcome (quality), the business won’t be able to improve their customer service to reduce fulfilment costs since they aren’t able to leverage supplier/service provider capabilities.
Understanding the Media Supply Chain Workflow
The media supply chain workflow essentially consists of 5 steps: