To begin, researching about the company HungryPet would provide a better understanding of its operations, supply chain, and current IT infrastructure. This would help in identifying the key challenges and potential impact on the supply chain and value creation process. It is important to understand the current pain points in the supply chain such as the inefficiencies in communication and information flow with vendors, which is affecting the agility and working capital. The stakeholders involved in the supply chain such as factory planners and vendors should also be analyzed to understand their current roles and responsibilities.

Next, evaluating the challenges faced by HungryPet is important to determine the areas of improvement. The challenges such as increased competition, pressure on ingredient quality, and transparency in supply chain operations should be thoroughly analyzed to understand their impact on the supply chain and value creation process. These challenges present a unique opportunity for HungryPet to innovate and adopt a digital supply chain solution to improve its operations.