September 2, 2021
Businesses depend on supply chain departments to take care of the logistics and meet customer demand at the lowest possible cost. Therefore, an active supply chain function in a company ensures overall business continuity and success. To do this companies rely on IT and Supply Chain Integration. In today’s time, you need to supply chain technology is used to achieve the results you desire. Here are some supply chain technology trends for you to follow in 2021.
Intelligent process automation or hyper-automation means using several automation technologies together. These technologies include artificial intelligence (AI), machine learning (ML) robotic process automation (RPA), and process mining. These automation tools lead to better decision-making and coordination within the business departments. Furthermore, it saves time and reduces human error. Ultimately leading to better demand and supply management and customer satisfaction.
You must have an idea about what augmented reality and virtual reality experiences are. Nowadays you see these at malls and gaming arenas. In addition, these are used in retail and manufacturing businesses as well. Some of these technologies include 5G, smart glasses, and head-mounted displays (HMDs). Firstly, they highlight issues like maintenance and faults in machinery. Secondly, AR can be a tool used for security purposes.
Supply chain attacks, counterfeits, and cyberattacks are very common thus supply chain security becomes a necessity. These security threats can be physical or online. Therefore, organizations invest heavily in ensuring that their products are safes from thieves and cybercriminals.
Supply chain management is about recording and tracking data. Technologies like cloud computing and edge data processing help with data tracking, data computing, and data storage. Moreover, they generate useful insights for your business that aids with decision making and reduces the response time.
The supply chain has an essential role when it comes to environmental and social impact and governance. New technologies can help with managing these supply chain activities. Therefore, we can be certain that in the coming years’ businesses will be making huge ESG investments.
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