The constantly increasing global demand for autonomous solutions has increased the investment rate in supply chain technologies to a great extent. With the changing trends, the supply chain leaders now perceive technology as a competitive advantage as it would help in bringing long-term value to the organizations. For instance, freight businesses are taking a step forward in adapting technology trends in logistics and supply chain management.
In the post-Covid world, the supply chain leaders need to adapt and follow a mindset that seeks to exploit the benefits from the digitalization and disrupt the current operating supply chain models. Therefore, following the top most supply chain technology trends is now a critical factor towards embracing and moving towards long-term change.
Supply Chain Governance and Security
With global risk events constantly rising, the breach of security impacts organizations on a digital and physical level due to which supply chain governance and security has now become an increasingly impactful macro trend. Therefore, it is important for privacy as well as data and cyber security in order to sustain the advanced tracking and tracing solutions, smart packaging, and next-gen RFID and near field communication capabilities.
Edge Computing and Analytics
The demand for automated decision making and processing on low-latency is done via edge computing as its growth corresponds with the devices for proliferation of Internet of things (IoT). Making its way into the manufacturing industry, the processing and analysis of data in edge computing is done near the source or collection point. Over time, most organizations are moving towards driverless forklifts for the warehouse as the heavy equipment sellers use edge computing to detect in case any part needs to be replaced.
Consisting of a toolbox with various technology options, artificial intelligence (AI) helps the organizations in understanding all the complex content, improve human performance, engaging with people and handling the routine tasks. With artificial intelligence in hand, supply chain leaders can effectively solve challenges existing around data silos and governance. Through AI, the visibility and integration is improved through all the networks built across stakeholders that used to be remote.
A framework designed to mix and match various technologies to the best of its interest, hyper-automation enhancing the historic legacy platforms with newly developed and advanced tools and planned investments. The term may have a different meaning for different organizations, if used and implemented correctly hyper-automation can help in broader collaboration amongst various domains so as to work as an integrator.
Digital Supply Chain Twin
Derived from all the possible relevant data through the supply chain and the operating environment, a digital supply chain twin (DSCT) helps in representing the physical supply chain. It is a digital theme upon which all the local as well as end-to-end decisions are based and helps in describing the constantly increasing connection between the digital and physical networks. With DSCT, organizations can enhance and improve situational awareness in both aspects.
Continuous intelligence is considered as one of the best opportunities for supply chain leaders to enhance and accelerate the digital transformation for their companies. It leverages the data processing ability of a computer to improve, compared to humans. Through this the supply chain leaders can look into the data being processed in order to identify and take actions actively as per the analysis.
The 5G networks are a huge step forward due to the capabilities of its processor to enhance data speed. Due to the pervasive and all-rounder nature of 5G networks, the potential of its supply chain is also boosted, which helps in minimizing the latency and improving the real-time visibility and internet of things (IoT) capabilities for the company.
With the potential to fundamentally influence the trajectory of the supply chain, immersive experience is based upon virtual, amplified and mixed reality. The human capabilities are augmented by the new interaction model as the organizations see the benefits of bringing on-board new employees via immersive experience and training to build up a safe and reliable virtual environment.
Nonetheless, while operating on a larger scale the visibility on a micro-level is sometimes blurred out for companies, which is why opting for supply chain technology trends can help the organization enhance its process and build a closer relationship with its customers.