January 03, 2020
3 Latest Trends In Supply Chain Management
In the world of globalization, supply chain management is continuously evolving. With the increase in customer demand and the complexity of markets, new technologies are emerging to make supply chains more advanced than ever before. The electronic industry is also facing some global challenges that can find its solutions in new technological trends of the supply chain.
Here is a list of the latest trends in Supply chain management:
Artificial intelligence (AI)
AI is a technology that is going to have a massive impact in the coming future. An enormous amount of data is being generated in every industry which is analyzed by data scientists. But this data holds so much importance. AI technologies embedded in Supply chain management systems can extract the meaning of this data and can utilize it for more efficiency in the near future. Artificial intelligence has a number of applications in supply chain management.
For example, intelligent technologies such as drones, robots, or vehicles promoting logistical coordination, etc.
Blockchain
The hype of Blockchain technology is touching almost every industry across the world. In supply chain management, blockchain will assist in reduced transaction processing times, potential cost reduction (especially in administrative costs), and improved cash flow.
When the security of digital supply chains are concerned, blockchain is a number one technology that ensures the data is not copied and remain authentic. The greater amount of visibility is achieved through blockchain.
Internet of Things (IoT)
IoT refers to the Internet of things. It is a network of things connected together. These interconnected devices help us get data on the devices we can wear. For example, a wide variety of things, such as watches, and other devices collect data about consumer behavior.
These devices are used to know their customer behavior better and then apply that knowledge to make consumer life easier. IoT enabled supply chains can use intelligent sensors to monitor and trace the stocks kept in warehouses.
As long as supply chains are going larger and complex, this is going to see new technological requirements in the current future also. If you want to stay ahead in this competitive era of businesses, you need to apply and be up to date to these latest trends in supply chain management.
Here is a list of the latest trends in Supply chain management:
Artificial intelligence (AI)
AI is a technology that is going to have a massive impact in the coming future. An enormous amount of data is being generated in every industry which is analyzed by data scientists. But this data holds so much importance. AI technologies embedded in Supply chain management systems can extract the meaning of this data and can utilize it for more efficiency in the near future. Artificial intelligence has a number of applications in supply chain management.
For example, intelligent technologies such as drones, robots, or vehicles promoting logistical coordination, etc.
Blockchain
The hype of Blockchain technology is touching almost every industry across the world. In supply chain management, blockchain will assist in reduced transaction processing times, potential cost reduction (especially in administrative costs), and improved cash flow.
When the security of digital supply chains are concerned, blockchain is a number one technology that ensures the data is not copied and remain authentic. The greater amount of visibility is achieved through blockchain.
Internet of Things (IoT)
IoT refers to the Internet of things. It is a network of things connected together. These interconnected devices help us get data on the devices we can wear. For example, a wide variety of things, such as watches, and other devices collect data about consumer behavior.
These devices are used to know their customer behavior better and then apply that knowledge to make consumer life easier. IoT enabled supply chains can use intelligent sensors to monitor and trace the stocks kept in warehouses.
As long as supply chains are going larger and complex, this is going to see new technological requirements in the current future also. If you want to stay ahead in this competitive era of businesses, you need to apply and be up to date to these latest trends in supply chain management.
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