5 Supply Chain Management Technology Trends To Watch For In 2021

1. 5 Supply Chain Management Technology Trends To Watch For In 2021

2. Introduction The covid-19 pandemic has affected the entire world, but it has provided a boost to the logistics industry as well as a signal for improvement in the old supply chain management models. Today, every organization is attempting to improve their supply chain through the use of supply chain technology. Technology such as AI, ML, and robotics can help supply chains shape up and become more efficient with proper data collection and centralization. Let's take a look at these five technological trends:

3. AI and machine learning With more opportunities comes more competition, and it's more important than ever to boost your productivity. Artificial intelligence and machine learning can easily accomplish this. Use of Artificial Intelligence and Machine Learning in the supply chain provides access to more data, ability to make better decisions, and decreases the errors.

4. Autonomous vehicles For a long time, self-driving trucks have been a trend in the industry. Despite the fact that large organisations have invested billions in autonomous vehicle startups, years of development and testing must still be completed before they can enter the market. These vehicles are likely to serve a small number of interested customers in the near future before being implemented across the industry.

5. Robotic automation & warehouse robotics In the logistics industry, robotic automation and warehouse robotics have been found to be extremely beneficial. Use of these automated systems have reduced labor costs, improved warehouse functionality, and product quality by significantly reducing manual operations.

6. Internet of Things (IoT) IoT devices have changed the way supply chains used to be managed. It's much easier to figure out where goods are, how they're stored, and when they'll arrive at a given location. Companies can uncover new trends and tendencies by collecting more data through connected devices, allowing them to make better business decisions.

7. Cybersecurity For a long time, supply chain cybersecurity has been a source of concern in the industry. Because of the interconnected nature of supply chains, which has devastating consequences, the logistics industry is a prime target for cyberattacks. Cyberattacks can lead to many negative cybersecurity incidents for software providers, supply chain executives, and their business partners, irrespective of whose information is exposed, often resulting in huge financial losses.

8. Conclusion In 2020, companies that invested in technology outperformed their competitors. Brands must take advantage of innovative supply chain solutions that increase productivity and viability, enable multichannel management, reduce workers burdens, and can take their logistics business to the next level in order to stay ahead.

9. Thank You!