“Companies have started to digitize their supply chains, and fully 72 percent expect to have done so five years from now.” as cited by PWC (2016)
In the recent years, it has proved that a company’s supply chain may be a key driver of its success, or it can be a costly hindrance to the company’s ability to develop or simply to remain profitable.
Given the limited availability of global resources, ranging from port capacity to long-haul drivers, providing a good customer experience in the face of ever-increasing demand is becoming increasingly difficult.
Companies with highly digital operations and supply chains may expect efficiency gains of 4.1% per year and revenue growth of 2.9% per year, according to research from PWC in the field of supply chain management.
As a result, technology is becoming increasingly vital and has an impact on practically every area of supply chain management, including logistics. The ability to keep up with the latest technology and understand how it may be used in your organisation is essential for any company whose primary focus is on ensuring that a physical product is manufactured or procured, transported, packaged, and delivered on time to an end customer.
Integrated Inventory Planning
As a result of supply chain issues in the business, clients are going to have to change their inventory planning models. Customer inventory planning used to be done using a “just in time” model, which called for customers to keep 10% more goods on hand than their predicted sales volume called for. However, lead times have become lengthier and more unpredictable in recent years. Because of this, buyers are aiming to stock up on 40-50% more goods in order to avoid missing out on sales chances.
As a result, order management systems must be connected into the rest of their supply chain. Platforms such as these are essential for organisations to plan and run their business in this new environment in order for them to meet growth and market penetration goals by providing a single, dynamic view.
The methods used by warehouses and shippers are vastly different, with varying degrees of complexity. Data-related technologies have the potential to have a substantial impact in the coming years and decades. Customer alternatives and external impediments make earning value in the margins vital. Data and the accumulation of various data can assist reveal these insights.
Automation & Connectivity
This process requires many, many partners, often operating on different systems and in different places to get things from their source to their final destination. The supply chain sector will be greatly impacted by technology that connects as many of these various partners as feasible and providing end customers with a single unified solution for controlling their supply chain. The management software will constantly update inventory in real time.
Control Tower Software
In warehouses, modern robotics improves operations and streamlines tedious tasks, while “control tower” software provides a centralised view of the entire supply chain. These tools aid our clients in maximising the efficiency of their supply chains and thereby enhancing their overall competitiveness. Customers, suppliers, manufacturing, shipping, and warehousing are all integrated into a central cloud-based command centre.
Personalized Service for Each and Every Client
Consumers’ expectations have risen as a result of the rapid advancement of supply chain technologies over the last two decades. Looking towards the foreseeable future, brands will be driven to differentiate themselves in a competitive market by the changing purchasing habits of their customers.
Supply Chain Visibility
The ability to see every step of the process, from the source to the client, in greater detail. Machine learning and artificial intelligence will continue to improve supply networks in ways previously unimaginable. The supply chain will become more transparent and responsive as a result of technological advancements, and customers will be delighted by the results.