Facing globalization, increased product complexity, and heightened customer demands, businesses, worldwide, are now steering more & more towards advanced technologies to change their supply chain from a traditional operations hub into a modern, extremely scalable & efficient hotbed for truly innovative & groundbreaking
Most of these emerging technologies have the common aim of making it simpler to collect more descriptive & insightful supply chain data, which is then leveraged, analyzed, & finally acted up, Considering the current effectiveness of such technological solutions, when implemented & managed by trained professionals has helped warehouse managers drastically reduce their OPEX, without compromising performance or revenue.
IoT technologies can aid transparency and traceability to help boost food quality and safety by using sensors to monitor the temperature of perishable food while it's in transit. Predictive analytics, augmented by the equipment learning and natural language processing of AI, can anticipate problems and often address them without human intervention.
Blockchain’s biggest potential is actually for facilitating track-and-trace applications that help companies document the chain of custody of products. Doing this can prevent leakage, help identify counterfeit items and fraud, pinpoint at-risk suppliers, demonstrate that regulatory requirements are now being met, and produce transparency around sourcing.
Robots have long played a role within the supply chain, used to move goods and materials throughout a warehouse, during transport, and as the main element of the fulfilment process. But as AI technologies push robots to raised levels of sophistication, machines are likely to be assigned many manual tasks now owned by humans, from picking and packing orders to automating heavy loading tasks.
By harnessing a mix of technologies like AI, machine learning, and predictive analytics, companies can automate warehouse operations, improve delivery times, proactively manage inventory, optimize strategic sourcing relationships, and produce new customer experiences that grow satisfaction and uplift sales.
Digital Twins are another emerging technology that may improve agility and help manage risk. Explained as digital representations of a thing, person, or process, digital twins are initially getting used -- starting in the product development stages -- to control data and maintenance of expensive equipment, for example, mining trucks and factory assembly lines.
While there’s still a massive learning curve with some of the more complex technologies, there’s no question that the supply chain is within the midst of a high-stakes makeover.
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POSTED BY
Ishika Adhana
Digital Marketing Executive
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