Marianne Chrisos | Born in Salem, Massachusetts, growing up outside of Chicago, Illinois, and currently living near Dallas, Texas, Marianne is a content writer at a c... digital supply chain technology advancements, The Complete Guide on Server Message Block, The Business Problems Worthy of AI’s Revolutionary Capabilities, Technology stored and deployed in the cloud makes it easier for all parties attached to the supply chain and logistics method to be able to see information, Real time traffic data that could affect shipping and receiving of components of parts for product manufacturing or end user receipt of products, Internet of Things capability and tracking software that makes it easier to understand the transit and handling of products and materials, “Smart road” technology that can build off traffic and weather data and plan new routes or automatically alert key personnel of delays, Share shipping information with customers, Some people have even speculated that driverless delivery and robotic warehouses are the next step in the digital supply chain. But digital supply chain technology is one of the most promising technology expansions in the world of supply chain management. Greener logistics will look to minimise damage to the environment through transportation and resource intensive processes such as procurement, inventory management, warehousing, distribution and order fulfillment. When capacity crunch hits an organization, companies often do one of two things: In either case, the company’s customers are the ones who end up paying more. As technology allows supply chain teams to “dig deeper” into their processes, organizations will be able to further optimize their working capital—almost to near perfection. The key is to have just the right amount of inventory space so as not to hinder your ability to fulfill your customers’ needs, but not so much that it cuts into your bottom line. “What farm-to-table has done for healthy eating, data visibility is going to do for broader supply chain operations. The bigger picture, though, is that forging relationships with suppliers goes deeper than just optimizing processes. Find out what has launched, and what's coming soon. Artificial Intelligence (AI) & Machine Learning (ML) It’s clear technology is showing no signs of slowing. At least for the foreseeable future, there’s still a need for supply chain teams to have a hands-on approach to their various processes. This kind of real-time information is an asset to customer service and a growth in efficiencies. Since supply chain can have several points of impact on your company, it can be beneficial to take advantage of technological developments to get the most from your supply chain strategy. For more information on all topics for Procurement, Supply Chain & Logistics - please take a look at the latest edition of Supply Chain Digital magazine. Having too much of it means you’re wasting a ton of capital on rent, maintenance, and other costs related to your storage space. It’s clear technology is showing no signs of slowing. Artificial Intelligence (AI) & Machine Learning (ML). By accessing and using this page you agree to the Terms and Conditions. Whatever direction the supply chain ultimately takes during 2020 and beyond, it remains key that companies in the supply chain space remain agile and operate with a lean approach in order to achieve sustained success. Supply Chain Digital Magazine covers procurement transformation, digital supply chain, supply chain of the future, P2P, S2P, procurement & supply chain technology, AI, Automation & Procurement Platforms - connecting the world’s largest community of procurement and supply chain executives. How COVID-19 disrupted the global supply chain, 90% of blockchain-related supply chain initiatives, Establish and maintain clear lines of communication, Collaborate to further both companies’ missions, Providing accurate and up-to-date information at all times, Ensuring visibility of data and information for all stakeholders, Guaranteeing the security of all information contained within the blockchain, Do nothing, and fail to provide for at least some of their paying customers, Invest more capital into transportation-related resources (e.g., drivers, trucks, insurance, etc. The development of technology goes hand-in-hand with the future of supply chain management. With sustainability recognised as a key pillar to many companies’ strategies, it’s important that firms understand how they can take more steps to be more considerate of the effect that their actions have on the environment. Supply chain teams that adopt this highly-integrated and specialized technology moving forward, then, will almost certainly spur a massive growth in productivity throughout their processes. In making this prediction, Gartner explained that many supply chain teams fail to truly grasp the value blockchain technology brings to the table, as well as a lack of follow-through in terms of actually implementing the technology into their supply chain processes. In adopting this technology, organizations will be able to automate and streamline picking and packing processes in particular. Rather than being seen as merely a mechanical—almost tangential—part of a company’s overall processes, supply chain teams are now starting to be recognized as the integral entity they actually are. While the potential use of supply chain-related data is limitless, some of the most common uses include: Though supply chain management might not be the flashiest aspect of running a company, we’re sure to see it play a much more integral role in business operations moving forward. Since supply chain involves manufacturing and delivery of real, tangible parts and products, the term “digital supply chain” seems counterintuitive. This is one of the key reasons athletic apparel giant Nike found itself on Gartner’s Supply Chain Top 25 of 2019. In an effort to decrease lead times and improve supply chain agility, Nike evolved its processes to include “rapid prototyping with 3D and digital printing.”. 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