Despite big investments in technology, supply chains are still wasting an overwhelming amount of time and money. The problem is that many supply chain teams still have yet to efficiently connect their numerous devices, large amount of data, and endless processes.
However, the good news is that some companies are doing this which means everyone can. We’ve collected some articles in order to give you a better idea of the current and future landscape of supply chains. Optimizing, automating, and connecting your entire supply chain are all covered. In the end, accomplishing this this leads to a more efficient and, most importantly, cheaper supply chain.
When planning supply chains to be optimized for the modern day, it’s important to be able to plan at the speed of business. If your planning process is too slow, your company will just be passed up by your disruptors.
Real-time, event-driven supply chain management is the future of supply chains everywhere. Including these real-time capabilities in your supply chain is the only way that your company will be able to keep up with all the IoT and data advancements.
IoT is going to allow the supply chain to “come alive,” in the words of this article. Data will be efficiently managed, processes will be automated, and everything will be easily connected.
For example, the article mentions a grocery retailer names Ocado. They are able to implement IoT solutions in their delivery vans in order to continuously gather information about their location, speed, and more. This info will help Ocado select the best delivery route in the future.
The ability to efficiently automate and integrate every different aspect of the supply chain is going to revolutionize the industry.
One of the most important developments in recent years is the growth of Big Data in every industry. This article gives a decent summary of the nature and impact of Big Data and how it relates to supply chains. It identifies the fact that many companies have been collecting Big Data for years because it was the cool thing to do, but now they don’t really know what to do with all of that data.
These companies all need integration and automation of their Big Data collection. It’s important to have systems in place that automatically analyze data as it is received without human input. There is too much data nowadays for companies to keep up unless they implement real-time, event-driven processes.
Here’s another real industry example of exactly how there is still tons of room to improve with integrating new technologies with supply chain processes. “65 percent of frontline clinicians said they wish they could trade supply chain management time for more patient care time.” That’s a huge problem for healthcare and emphasizes the need to supply chain automation and optimization. If their supply chains were more automatic, it would be easy for these clinicians to go back to working on what’s important, not something mundane like inventory management.
It’s clear that the healthcare industry is one major area where there is a lot of room for improvement. When only 10 percent of respondents are familiar with RFID technology for inventory tracking, there’s a clear problem in the adoption of technology throughout the industry.
Digital transformation is the key to unlocking tons of untapped potential throughout supply chains.
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