The supply chain has been constantly evolving, starting from the days of assembly lines to the present day of deploying advanced robotic solutions. The trends that we would see in 2019 are actually the continuation of the trends that dominated 2018. The advancement in logistics and supply chain has been solely focusing on tech-driven management and smart technology to reduce and manage overhead expenses. Supply chain and logistics are both a vital aspect for any business in terms of keeping a check on the supply of quality raw materials, tracking, manufacturing, and transport of the finished goods. Those companies who implement a well-oiled supply chain mechanism are able to meet their customers demands in a much more expeditious manner and can ensure sustainability of the business in the long run.
Let’s glace at some of the important trends that will change the way modern businesses function:
Artificial Intelligence: It is everywhere and is in everything you do. AI has found its way in numerous applications in warehousing management which includes gesture recognition in the procurement process and autonomous vehicles, robots for stocking products and much more. The concept of automation and robotics are also implemented in the supply chain to assist humans with challenging tasks.
Wearable Devices: These devices connected with cloud technology, can help warehouse staff to access and input data in real time. This allows proper data collection and analysis to enable companies to keep track, manufacture, and distribution of inventories.
Saas In Supply Chain: SaaS or Software-as-a-service is also gaining ground as the preferred choice in supply chain and logistics management since it offers security and the convenience of being able to use only when the services are required. This allows the company to save on the costs of continuous system upgrade and infrastructure.
Digitisation: Going digital is the new mantra ever since technology evolved. And when we speak about it, IoT holds significant importance as a highly transformative technological solution in supply chain and logistics management. It will hugely benefit the system of connected devices that enable the transfer of data over networks on managing inventories at warehouses, updates on transportation, etc.
Risk Management System: No matter how improved and progressive technology is implemented, there are fair chances of things going wrong. Hence an effective supply chain risk management system in place will help companies to contain any unforeseen event and guide in taking measures to overcome it. Steps need to be taken to make the supply chain more flexible to adapt to any disruptions with alternate options on stand by.