Technologies SC managers should add to their toolbox

 

Hi all, I am Pranav Surendran from second year MBA. I recently came across an interesting article from which I thought I could share few of my understandings.

The choices around modern, accessible technology can seem endless when it comes to the supply chain, especially when professionals need to meet the increasing demands for low-cost, quick, and highly transparent delivery of products.

However, as anything can be used in the supply chain, from blockchain to robotic processing and immersive VR, it can be overwhelming to build an adoption plan that maps to simple ROI. So we took a closer look at the role played by the supply chain in meeting the demands of the Delivery Economy and what unique technology instruments might help ease the burden.

Marketing executives cite supply chain and shipping departments as one of the top three stakeholders required to build the delivery experience that today's customers increasingly expect, according to our recent study on the Delivery Economy. However, in order to drive operations, many supply chains still use outdated processes, such as spreadsheets and PDFs.

Although the implementation of technology is still in the early stages, VDC Research recently discovered among supply chain technology decision-makers that budgets for mobile and communication solutions are projected to increase by 10 percent year-over-year to facilitate greater distribution visibility.

With tight budgets and rising demands, it is important to choose the right technologies. When it comes to meeting standards across the Distribution Economy, transport visibility and predictive ETAs are crucial.

Our study showed that 74 percent of customers claim it affects their opinion of the business when a package is not delivered when expected. Supply chains can reliably calculate when a shipment will arrive with a predictive ETA, enabling them to proactively make changes to downstream activities. In addition, the positioning of geofences across terminals and ports offers insight into congestion and access to the most precise forecasts of arrival, enabling stakeholders to be alerted when a shipment is close.

When it comes to having greater insight into the distribution of products, extensive carrier coverage and data quality are essential components. High-quality information ensures that ETAs are reliable, while a wide network allows companies obtain a more complete view of their shipments. In order to allow access to real-time data, project44 prioritizes direct API connections and integrations with ELDs/ telematics devices.

Companies are able to reach a wide variety of carriers by constantly scaling the carrier network, as well as offering an automated onboarding process, enabling them to obtain a more detailed view of their shipments right away.

Finally, the opportunity to exchange data with partners, clients, and internal stakeholders will greatly help the Distribution Economy to fulfil consumer expectations. With the visibility of transportation, along with the opportunity to exchange information with collaborators regardless of whether they use the same visibility technology, it becomes easy and straightforward to collaborate and communicate. Companies would be able to improve productivity and manufacture goods more efficiently, as well as give clients real-time progression.

It 's important for logistics managers to cut through the tech noise and use the best tools for their job when it comes to adapting to the growing distribution economy. The supply chain will increase the visibility of transportation, extend the scope of activities, gain better insights and improve profitability with these tools.