Top 5 Trends in Modern Supply Chain Management Process

1. Top 5 Trends in Modern Supply Chain ManagementProcess From the first simple assembly lines to today's advanced technology-driven supply solution, the process of the supply chain has been changing continuously. The new supply chain systems think beyond increasing operating efficiency to more integrated systems that enhance management, planning, and execution at every level of the supplychain. Why Modernization isNecessary? The growing demands of the customers and the complexity of the supply chain process expect the business worldwide to include more and modern techniques in the process to increase customer satisfaction and competitive advantage. A logistics companyimplementing technologically designed practices in the business can fulfil the customer needs more time andexpeditiously. Demands of the customers are increasing exponentially and these 5 trends are making the companies able to keep up with the increasing demands of the customersworldwide. 1. Digitalization andIOT Digitally integrating the supply chain adds value at multiple levels. Including various software, wearables and sensor systems connected with internet enhance the third-party logistics suppliers to stay competitive and provide betterservices. Digitalization has the potential to dramatically lower down the overall cost, explore new market opportunities and increase product availability. It simplifies day to day supply chain operation allowing bettermanagement.

2. 2. EnhancedVisibility/Transparency The leading forwarding companies and logistics suppliers are adopting the latest technologies which can provide transparency throughout the supply chain operations. Latest inventory tracking allows to manage and track the shipment remotely. Now forwarders can quote their clients the actual market rates which were previously notpossible. It has set new industry standards in the logistics market by allowing the customer to track the shipments and get live status of the consignment and operations from any place in theworld. 3. Robotic ProcessAutomation Many robotic advanced companies have released various automatic robotic systems which are capable of eliminating the human efforts required in the process of logistics. These advanced robotic systems are equipped with artificial intelligence that lends them with the human-like problem-solvingskills. As more and more companies are adopting this robotic technology it is expected that robots and drones will soon become the inseparable part of the logisticsindustry.

3. Usage Alternativeenergy To safeguard the environment for upcoming generations from harmful effects of ozone depletion and greenhouse effects various regulations by International Maritime Organisation (IMO) have been imposed on shippers for the usage of renewable energy and lower utilisation of sulfur fuels anddiesel. The logistics industry has been very focussed towards recent environmental issues. It includes using sustainable methods and using renewable energy within the supply chain. Steps like this have made the logistics and transportation more efficient by keeping the freightlow. CollaborativeRelationships Today's market situation has facilitated the service provider towards more collaborative relationships in the world of supply. It has crossed the boundaries of organisation, region and departments and calls for a collaborative approach in-between the departments and partnerorganisations. Latest Softwares are helping the enterprises to interactively collaborate with other trading partners, suppliers for planning and execution activities. This collaborative relationship enhances the operations in the supply chainwith better relationship management with customers and otherstakeholders. FinalThoughts As we are witnessing more and more advancements in supply chain operations, we will soon experience excellent efficiency with reduced operational costs which will transform the wholeindustry.