Trends transforming the supply chain technology outlook
Trend #1: Analytics and Analysis
The gathering of analytics and supply chain analysis of the data will continue to be of extreme importance. The information you acquire through supply chain analysis provides you with the ability to improve your products and services, as well as your operations, hiring practices, marketing campaigns and much more. The analysis of your supply chain analytics is essential to improving these aspects, as well as your supply chain marketing. You should be using analytics for both internal and external evaluation.
Trend #2: Supply Chain Optimization Apps
The use of apps is yet another way supply chain technology is transforming business practices. Many of the best supply chain apps provide you with the ability to access real-time information to prevent delays and the loss of potentially millions of dollars annually.
Trend #3: Artificial Intelligence (AI)
AI supply chain trends can be used in any number of ways for complete supply chain optimization. You can capitalize on artificial intelligence by using it to automate processes and procedures. The benefits of doing so are to eliminate human error, create efficiency and to save money by eliminating the need for human labor. AI technology has the ability to find patterns, better predict purchasing demands, eliminate redundancies and optimize inventory levels.
Trend #4: Blockchain Roles in Supply Chain Optimization
Blockchain is one of the best supply chain tools available today. It is one of the best ways to protect data and information from being manipulated or edited. You are better protected from hackers and corporate espionage by using blockchain-driven networks and devices.
Trend #5: Business Events
A business event is essentially any action that influences the direction of the business. This could be a highly common event such as the purchase of a product. However, it could also be more significant such as the credit limit of a customer being exceeded.
Trend #6: Content and SEO For Supply Chain Companies
Digital trends in technology are impacting the supply chain. Supply chain content is essential to customer acquisition and retention.
The best content is original content rather than to republish a post or article that has already been featured elsewhere. You want to be sure to utilize all digital platforms from social media too blogs.
Trend #7: Conversational Commerce
Conversational commerce takes the conversation between a business and a customer or vendor to a new level. You can automate conversations and responses to allow your employees to spend more time on other aspects of their jobs.
Trend #8: End Users Are Top Priority
The end user is the ultimate driver of all business decisions, and they will continue to hold the power for the foreseeable future. Make sure that all of the applications, software and other tools that can be accessed by the end user is the right price and easy to use.
Trend #9: Internet of Things (IoT)
When we explore future information technology trends in supply chain we can’t ignore the internet of things. IoT has yet to infiltrate the supply chain from beginning to end; however, IoT is used in a number of ways throughout the supply chain process.
Trend #10: Information That Informs Logistic Decisions
The knowledge you acquire from data gathering is imperative to long-term sustainability. Supply chain analysis of such information will provide you with the opportunity to adapt and modify practices quickly and easily.
Trend #11: Robotic Processes Automation (RPA)
The overall goal of using RPA throughout the supply chain is to create value for various B2B initiatives. Despite the term robotic being used in the name, robotic processes automation is actually the use of software rather than an actual robot. The results of using such software often lead to fewer errors, faster completion times and a reduction in costs.
Trend #12: Supply Chain Security
Security in the supply chain remains a critical component to a successful business. According to a recent Bloomberg report, Chinese spies had secretly installed microchips onto various technologies from companies such as Amazon and Apple.
Trend #13: Supply Chain Software
When thinking about information technology trends in supply chain management, software supply chain trends are frequently changing from a one-time purchase to a subscription-based service.
Trend #14: Virtual Reality (VR) and Augmented Reality (AR)
VR and AR are taking workplace productivity to new heights. Augmented reality allows people to free up their hands to better multitask, and it allows businesses to see the way in which a product or material might be used in a realistic setting before the actual implementation.
Trend #15: Wage Raises
Wage raises are reluctantly being pushed as the need for qualified supply chain professionals continues to increase due to the explosive growth in e-commerce. Supply chain management practices must shift to higher wages to eliminate these existing challenges.
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