Technology Used

Past

Manual network designing – Manual calculations may be performed to check if the process outputs are as expected. The model should be simultaneously matched with existing system to identify loopholes. Manual planning can be tiring and error-prone.

Present

ERP software – An ERP provides a comprehensive management system that allows for integration of transactions, material planning, and other functions into a single system. ERP works by connecting these systems to one central database and management platform. As a result, you can monitor all departments from purchasing and sales to finance and human resources from one hub.

Future

Blockchain – Enables blockchain-powered networks to create commercial models that consider not only monetization strategies, but also incentives, stimulating collaboration among members and accelerating network effects. Applying Blockchain technology increases the viability and agility of Supply Chain Network Design. Adding resiliency, sustainability, and robustness to Supply Chain Network Design by considering Blockchain technology.

IoT – Make sure your IoT solution for supply chain meets the modern tech trends and is fully functional. The IoT device will transmit its location, which can be picked up by GPS satellites and used to track the movement of goods.

Automation of inventory – An automated inventory management system (IMS) is an inventory software system that automates parts of the inventory management process. Instead of having your team manually enter data and perform tedious management tasks, the software does it for them. It is more accurate, efficient, and insightful than manual inventory tracking and saves a huge amount of time.

Autonomous mobile robot (AMR) – This is a type of robot that can understand and move through its environment without being overseen directly by an operator or limited to a fixed, predetermined path.

Process followed

Past

Analyzing the trade-offs – Determining the effect of decreasing one or more key factors and simultaneously increasing one or more other key factors in a decision, design, or project. Depicts the relationships between system life-cycle cost and the system’s performance requirements, design parameters, and delivery schedules. Trade-off analysis shows how cost varies as a function of system requirements (including Key Performance Parameters), major design parameters, and schedule.

Optimization – based supply chain analysis – based supply chain analysis – Aims to ensure the optimal operation of a manufacturing and distribution supply chain. The entire process involves five key steps: planning, sourcing, execution, delivery and returns.

Present

Advances in network design modeling – Advanced Network Design (AND) is a sophisticated GIS-based physical network inventory management system providing comprehensive end-to-end design and documentation for the life-cycle of all types of access networks. Key factors affecting an advanced network design model are Market Structure, Demand Plotting or Estimation, Market Segment, Procurement Cost, Product /Conversion Costs, and Logistics Costs including Inventory holding costs, Overheads, and Cost of Sales.

Optimization – Seeks to find an optimal combination of factories and distribution centers in the supply chain. The solution should match supply and demand, as well as find a network configuration with the lowest costs. Supply chain network design can be defined as a process to establish a complete view of the organization’s supply chain.

Using ERP data – ERP packages contain several modules, such as finance, sales and distribution, materials management, manufacturing and production control, human resources, plant maintenance and quality management. It eliminates redundant and inconsistent versions of the same data in the organization and across data domain types.

Future

Smart Warehouse – A software solution that offers visibility into a business’s entire inventory. The supply chain can be managed by fulfilling operations from the distribution center to the store shelf. The system serves to control and monitor the movement and storage of materials in the warehouse. It involves many processes such as sending, receiving, or delivering materials mixed with other supply chain systems. The system ensures transparency in your business and management.

Universal visibility – Supply chain visibility (SCV) is the ability of parts, components, or products in transit to be tracked from manufacturer to final destination. It enables shippers to improve customer service and cost controls through management of inventory in motion, proactive status updates, limiting disruptions, and risk mitigation.

Optimization of working capital – Working capital refers to the amount of money and assets that are required to run your day-to-day operations. It can refer to cash, accounts receivable, inventories, transport fleets, and warehousing infrastructure. The working capital optimization cycle is a way of looking at a company’s receivables, payables, and inventory and how it handles those on a day-to-day basis.