It’s only taken a couple of decades for supply chains to take over the running of the global marketplace. Most of this can be seen as a direct result of technological improvements. Being able to collect massive amounts of data has meant that supply chains can now make vital business decisions off the back of big data.
The digital age of supply chains means that as technology evolves, so will the way in which supply chains become leaner and greener. In fact, a lot of the current trends in supply chains could end up changing the way we look at supply chains totally.
Artificial Intelligence (AI)
As computers and data collection become more sophisticated, it looks like AI is going to be able to improve and possibly automate the way in which decisions are made. Rather than having to rely on human judgment calls, the processing of masses of data could actually serve to completely reinvent business models.
When it comes to traditional supply chain thinking, the key is to plan cautiously and avoid risks. Advanced analytics will allow companies to not only plan further ahead by taking advantage of opportunities as they arise, but also to mitigate the impact of future adverse events.
Robotic Process Automation (RPA)
RPA will allow supply chain organizers the opportunity to cut costs, reduce mistakes, speed up processes, and link applications. Intelligent apps will allow organizations to work with data processing in order to automate tasks. The use of robots is also serving to increase productivity by almost 30%, and as robot technology advances, they are able to complete many more human tasks.
The totally transformational power of increasing technology means that the supply chains who know how to adjust and aspire to be the best will be the ones which succeed. In fact, taking a disruptive approach to supply chains could very well make the difference between those who survive and those who do not.
In many ways, the supply chains will be most affected by those who dare - and win. As the digital era advances at lightning pace, business models and strategies will only be as useful as the market opportunities that they enable.
Was this relevant to you? Check out our posts Big Data in Supply Chains, 4 Ways Technology Will Boost Warehouse Efficiency and 10 Tips to Make Your Supply Chain More Eco-Friendly as well!