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Four Popular Supply Chain Trends
The advancement of green logistics is beneficial for the environment as well as businesses because it is cost-effective, encourages brand goodwill, and expands customer loyalty.
Fremont, CA: Supply chains are an essential part of businesses and have witnessed many trends in the industry. Such as big data, AI, sustainability, and omnichannel marketing. These technologies not only facilitate in stock taking, order, and delivery but also in security and risk management, process automation, and customer service.
Here are four supply management trends to look out for:
Blockchain technology eliminates intermediaries and helps allocate digital data transparently and safely. Vendors, shipping lines, customers, and logistics can consolidate utilizing a single platform. Every data or information is stored in a single location in the form of blocks and is kept secure using encryption and a time-stamp ledger connecting new information to the current chain.
Blockchain systems are also cost-effective, transparent, and quick, limiting disruption in customer service and making the supply chain paperless. It also allows managers to identify issues before they happen.
See Also: Top Blockchain Consulting Companies
Supply chains need to be more flexible to help them address changes in a short time. A versatile supply chain can also help companies navigate scarcity and disruptions. Managers can forecast and recognize possible issues and solutions, helping them respond to production problems, supply, and deliver quicker.
AI and Machine Learning
One of the benefits of AI and machine learning (ML) technology is extensive scale automation. ML can read, recognize, and duplicate complicated content, patterns, and processes. AI can carry out the repetitive task, allowing employees to do other important tasks.
IoT and Big Data
Businesses can automatically maintain their inventory and stock movement better with the advancement of IoT. The system gathers big data into a central system for evaluation, and supply chains can obtain informed insights from the results. Big data helps enhance operations, hiring processes, or marketing plans.