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Three Innovations Transforming Supply Chain Management
Artificial Intelligence and Big Data Analytics are having a significant impact on supply chain management. Data processing automation allows supply chain managers to access massive amounts of data in real-time and make better decisions based on that data.
Fremont, CA: Supply chain operations are rapidly changing as technological solutions such as artificial intelligence, autonomous robotics, and RFID are integrated. Logistics has never been faster or more efficient than it is now, thanks to technology integration. The application of technology to supply chain management has drastically altered the way firms function. Here are three innovations transforming supply chain management:
Impact of 3D Printing On Global Supply Chain
Companies are quickly making and delivering products because of developments in 3D printing. 3D printing enables producers to create customized goods and spare components in response to customer demands. Supply chains are becoming shorter as production processes are tailored and tightened, and demand for commodities is changing. Supply chain organizations are resorting to 3D printing to deliver products rapidly to stay competitive in the logistics market. Manufacturers may produce goods closer to consumers with this technology, resulting in lower inventory levels, lower shipping costs, and more cost-effective warehousing.
The employment of autonomous robots in supply chain management enhances productivity and lowers management costs by improving the speed and accuracy of regular jobs. Robotic process automation (RPA) assists supply chain managers in identifying and enhancing inefficiencies throughout the supply chain. RPA also enables managers to operate a smooth operation using artificial intelligence to react to inquiries 24 hours a day, seven days a week.
Data Analytics and Artificial Intelligence
Artificial Intelligence and Big Data Analysis are having a significant impact on supply chain management. Data processing automation allows supply chain managers to access massive amounts of data in real-time and make better decisions based on that data. Furthermore, Internet of Things (IoT) devices provides reliable data on consumer preferences and logistics trends to supply chain organizations. Artificial intelligence's best feature is that it converts raw data into useful information without the need for human intervention. By automating their day-to-day company operations, IoT is also assisting supply chain organizations in effective fleet management.