The
supply chains for a variety of businesses has grown more complex. They are now
smarter, faster, more consumer centric and sustainable. According to Accenture,
76% of supply chain managers see customization of services and products and
faster fulfilment of orders as the two top-most consumer demands in the coming
years. Higher expectation from the consumers impact every part of the supply
chain. InVerita has summarised seven supply chain trends that will blow up in
2020:
1.
Artificial Intelligence
Supply
chain was one of the top areas where businesses are generating revenue from AI
investment. The adoption of
machine learning and other AI technologies provides new insights into a wide
range of aspects, including logistics and warehouse management, collaboration,
and supply chain management. AI enables the tracking and measurement of all the
factors needed to improve demand forecasting accuracy. Having all this
information could easily reshape warehouse management, with self-driving
forklifts, automated sorting, and self-managing inventory systems.
2.
IoT & Big Data
Through
the installation of sensory devices on products, businesses can track their
products movement and manage their inventory easily and automatically. The
impact of these IoT trends in the supply chain is reduced costs and improved
service delivery. The data is collected in a central system and can then be analysed
to derive valuable insights.
3.
Wearable Technology
Wearable
devices, together with cloud technology, can allow workers to input and access
data in real-time. Warehouse managers can leverage this tech to collect correct
inventory data quickly as well as keep track of products manufactured, stored,
and transported at any given time. These devices can also help companies to
detect health issues in their workers as such promote their wellbeing.
4.
Omnichannel Service Delivery
Omnichannel
is a multi-channel sales approach that provides the customer with an integrated
customer experience. The customer can be shopping online from a desktop or
mobile device, or by telephone, or in a bricks and mortar store and the
experience would be seamless. Omnichannel marketing can be a valuable asset for
businesses that are looking to deliver a better customer experience.
5.
Robotic Process Automation (RPA)
RPA
involves automation of manual processes using the software. It’s a software
robot that is programmed to mimic human actions. As such, RPA will be used to
automate most of the repetitive warehouse tasks and fasten the process of order
fulfilment.
6.
Autonomous Driving
As
the demand for delivery drivers grows and the supply of labor declines,
businesses will be forced to turn to alternatives such as autonomous vehicles. Autonomous
vehicles have the ability to impact supply chains through cost savings, improved
efficiency, and increased safety.
7.
Augmented Reality (AR) & Virtual Reality (VR)
AR
and VR in retail helps to improve customer engagement and involvement. In
supply chains, AR improves the order picking process. By using smart glasses, employees can
see exactly where items should fit on carts while they are picking orders. AR
and VR could help managers to get a real time look at any site at any time to
ensure that processes are running as planned. This is particularly important
when key personnel aren’t able to be on site.
These
advancing technologies are reshaping the supply chain, not in the future but now!
Technologies will enhance the speed, dynamics, and resilience of internal, as
well as, external supply chain operations, which will, in return, strengthen
customer relationships and increase revenue flow. Therefore, companies should
be aware of ongoing changes and constantly be on the lookout of innovative
solutions in order to stay competitive.
Reference
No comments:
Post a Comment