Predicting the Unpredictable Future of Supply Chain – Part 2
In our previous post from December – Part 1, we covered some of the outstanding supply chain trends we face as we head into 2023: green logistics, the replacement of linear supply chains by circular supply chains, new partnerships and complete integrations with third-party services, the demand for more knowledge workers to handle complex processes, and the future of supply-chain-as-a-service (SCaaS) business models and supply chain management systems to make strategic decisions to improve the supply chain.
Here are a few more essential trends to look for in 2023:
First, supply chains will become faster and more efficient as product lifecycles and clock speeds become shorter. Companies will need to develop different supply chains to accommodate varying product lifecycles and remain profitable, streamlining processes to ensure they can keep up with the steady demand for new products.
Another significant trend–elastic logistics–is in play to guard against market fluctuations so supply chains can meet the demands of variables like shipping, manufacturing, and transportation.
Regarding technology and standards, advanced technology like the Internet-of-things (IoT) will increasingly enable knowledge systems for supply chain management. With more IoT devices at work, you can increase your supply chain transparency, optimize ROI and improve customer service. You can also integrate IoT data into your core business applications for analytics.
In addition, blockchain technology increasingly offers a decentralization methodology to improve data security and efficiency.
Robots and related software are increasingly on the factory room floor, distribution centers, and warehouses. And more companies incorporate drones and self-driving vehicles in their operations.
Overall, automation and artificial intelligence (AI) significantly increase supply chain efficiency by automating procedures. You can use AI to predict purchasing demands and technology to enhance worker productivity and support product development.
With all the technological changes and increasing supply chain complexity, it is almost inevitable that supply chain professionals will soon have to undertake standardized certification programs like CPAs and engineers.
Lastly, regarding your branding, remember that consumers and global trade authorities may soon demand full disclosure about your supply chain practices and externalities. Complete supply chain visibility may become essential to your company’s brand image.
Supply chains are the lifeblood of businesses today. Keeping all supply chain components running as smoothly as possible means your business can overcome changing consumer demands, transportation constraints, and supply chain disruptions. The BrillDog Supply Chain Management System can help your small to medium-sized business meet today’s challenges and help you thrive in the future.
