The Future Supply Chain

The global supply chain is always changing and adapting, from increasing customer expectations to new technologies. Below we highlight three areas where forward thinking businesses are enhancing their supply chains:

Blockchain Technology

Blockchain has been gaining momentum recently, as it guarantees an unrivalled level of transparency, trust, and visibility within supply chain transactions.

The technology which has been associated with cryptocurrency, can solve the difficult task of record keeping, which would improve the quality and safety of products moving within the supply chain, whilst reducing the overall cost.

Big Data With Artificial Intelligence

The right data can help predict future activities and simulate new networks. With artificial intelligence (AI), companies are able to make proactive decision-making on both performance and strategy.

The ability to predict what consumers will want, who their best customers are and what services would generate the most revenue, is vital information to companies.

Big data is important and AI is helping companies to cut costs and accurately predict customer behaviour.

Automation and Technology

Technology is always advancing, and implementing it into your supply chain can be difficult but rewarding.

Logistic companies are investing massively in new fulfilment, automation and delivery technologies. This can include real-time asset tracking, robotic fulfilment vehicles, driverless vehicles, and drone deliveries.

These technologies can help with fuel costs, efficiency, and reliability while still meeting more demanding service level agreements.

However, new technology comes at a price and implementing it across the supply chain can be expensive.

The Supply Chain Academy offers a masterclass that focuses on innovation such as Artificial Intelligence. The programme is designed to give you the latest techniques in strategic innovation, to maintain your business’s competitive edge as it adapts and grows. Find out more HERE.