Over the last century or so, technology has developed a habit of moving far faster than society can adapt for proper implementation. The world of supply chain management is no different. While many companies are already making good use of what technology can offer for effective supply chain management, many companies are still working with outdated systems that leave them at a disadvantage compared to their more forward-thinking competitors.
With technology, innovation never stops, and the future of supply chain management is set to be entirely overhauled by automation and interconnected services. But we’re getting ahead of ourselves. What does this overhaul look like in practical terms?
The future of supply chain management
One of the main feats technology is achieving in supply chain management is the eradication of mundane, repetitive tasks thanks to automation. On a fundamental level, an example of this might be automatically updating inventory when a product leaves the warehouse, rather than someone having to manually alter the data or go to the warehouse and do a physical stocktake.
However, on a higher level, AI-powered robots can manage the inventory inside the warehouse, significantly reducing—if not eliminating—inaccuracies in inventory management. Systems like this may not only fix problems with unaccounted for stock, but they can also speed up and reduce the running costs of that whole part of the operation.
Even the logistics industry is beginning to blur the lines between reality and science fiction, with self-driving trucks already being trialed in places like Sweden. Logistics is set to be the first industry to see largescale adoption of self-driving vehicles. This change means that businesses of all kinds may see substantial efficiency gains thanks to their ability to operate over more extended periods and greater safety over human drivers.
As the world becomes more connected, companies find their supply chains spread out between suppliers and manufacturers across multiple countries. The need for clear communication and effective management tools is greater than ever to keep your supply chain operating smoothly. New technology bridges this gap with supply chain management software to keep everyone connected through a central data management system and informed of important updates. Suuchi Inc. developed a cloud-based platform for supply chain management that revolutionizes how businesses connect with their global partners. The future of supply chain management looks bright!
Being better connected vastly improves the predictive capabilities of your supply chain. While many businesses use some form of SCM software to predict demand based on historical trends and other available data, the predictive capabilities of new technologies go far beyond that. For example, with the Suuchi GRID platform, news of supply shortages, factory slow-downs, logistics holdups, etc. can be tracked in real-time as partners share updates on their particular roles in the chain. This communication is especially essential right now during our global pandemic. While other companies are scrambling to find out what is holding up production and shipping of their products, GRID users can communicate directly with their factories, identify impacted areas, and position themselves and their partners for optimum outcomes all on one platform. Request a demo of the Suuchi GRID here.