[vc_row][vc_column width=”2/3″][vc_custom_heading text=”Top 10 innovations taking place in Supply Chain Industry.” use_theme_fonts=”yes”][stm_post_details][vc_column_text]Supply chain is the most important aspect that determines the success or failure of the product or services offered to the consumers. An efficient supply chain is sure to ooze out the best quality services or products. Thus, supply chain management forms the most integral part of any business or industry.
Supply chain is constantly upgrading. With each passing day, new technologies and inventions join hands with supply chain industry to make it more and more efficient. Supply chain gurus feel that in the coming few years, all the old supply chain techniques will get replaced by the new technologies and this will completely change the face of supply chain.
The old techniques have been already replaced by modern technologies comprising of computerized chain management. Computerized chain management has changed the face of the whole supply chain industry.Many such innovations are waiting to happen in the supply chain industry.
Here, we bring to you such innovations that are soon to join the supply chain industry. The innovations mentioned here are not just technological inventions that are taking the industries by storm but, also the new strategies, techniques, and measures that the companies are adopting to make their supply chain more efficient and productive.[/vc_column_text][vc_column_text][/vc_column_text][vc_column_text]Read about the top 10 innovations taking place in supply chain industry:
Radio Technology
Many supply chain consulting companies face a lot of issues when any order is in transit. It hampers the company in many ways. It delays the processes, cause heavy losses and most importantly, tarnishes the image of the brand. The latest RFID technology is the best solution of this issue.
RFID stands for Radio Frequency Identification. Supply chain expert believes that this technology has the potential to eliminate all the issues that crop up during the transit like loss of products, etc. With the use of this latest technology, the company can keep a tab on the product when it is in the production process as well as in the supply process.
This technology brings in use RFID chips that are installed on all the items. This helps the in early detection of any problem, if present in an order. The early identification saves time and also cost.
Transport Management Software
Computer has brought a great revolution in every industry and area. Supply chain industry is not at all an exception. It has changed the face of supply chain industry. The industry has developed by leaps and bounds after the inception of computerized technologies.
Computerized shipping and tracking systems have facilitated the work for the supply chain companies at large. All the operations and processes can be carried out from a single panel. The best part is the availability of the panel in the mobile phones. You can now keep a tab on every single happening from your mobile phone. You can organize the inventory data, monitor the distribution, monitor shipping and make the electronic bill of landing using your mobile phone from anywhere and at any time. You just need to tap your fingers on your mobile device to get all the things done. This also brings down the possibility of occurrence of errors in the process.
Advanced Weighing Technology
Weighing process is the biggest constraint in the entire supply chain. Many industries utilize the old truck scale for this purpose. This old method has many shortcomings and gives faulty results. According to supply chain guru, the latest advanced weighing technology is a boon.
The onboard truck scale helps in weighing the exact payload weight as well as the gross weight of the truck. Loading the truck to maximum weigh saves times as well as money.
This advanced onboard truck scale is getting adopted by many industries.
Social Media Revolution
In today’s time social media is the ultimate power. It is a staircase to success. Every single person on the Earth knows the power of social media and the role it plays in revolutionizing any business or industry.
There are 1.3 billion monthly active users (MAU) of Facebook. There are many other social media platforms like Twitter, et al that have millions of active users. Increasing the visibility of the company on social media is user to bring success to any industry.
SCO consultant considers social media as an important part of supply chain. The consultants see social media as the best way to stay in touch with the stakeholders that are a part of supply chain. Social media also opens many new opportunities and channels for the industry.
Adaptive Supply Chain
Adaptive Supply Chain is bringing in many new revolutions in the supply chain management. Many industries have recognized the potential of supply chain and are adapting it to garner positive results.
The latest dynamic model and tool, adaptive supply chain, comprises of dynamic multi- structural macro- states. Companies will work on global operating models. This will offer them great success.
Data Analytics
This new tool leaves no stone unturned in generating data for supply chain management .The data compiled by data analytics is used effectively by supply chain strategy consulting experts.
The data is collected from the sources like customer surveys, call centre logs, CRM transactions and RFID. The latest technologies are making the supply chain very efficient and yielding.
Collaborations
Collaboration is not a technology but, a technique that ensures success in every industry. Collaborating with partners spells for success as well as innovation.
Earlier the traders used to work within themselves, it sure gave them success but, on a small scale. Today, the traders are not shying away from collaborating with other traders.
Many supply chain companies in India have collaborated with other traders on a global scale. This has given them immense success.
Supply chain consulting experts consider this innovation as a path- breaker. They have stated that this innovation in supply chain industry will bring about many new success stories in the industry.
Predictive Procurement Planning
Many companies are swearing by this innovative measure in supply chain.
The companies are controlling their costs in order to garner big profits. The companies are establishing new relationships among themselves to bring the ball in their court.
Urging suppliers to bring down the cost can be done by collaborations. The traders are also shifting their factories to cheap locales. This is helping them in maintaining their profit margin. Many companies are buying small suppliers as a part of their strategy.
Functions Integration
Integrating functions is the latest innovation in the supply chain. Supply chain consulting experts consider it as a way to inculcate creative solutions. Here all the functions in Supply Chain are checked for integration so that decision making can be centralised to enhance delivery and lower costs.
Agile Supply Chain Management
Agile methodology ensures success.
The supply chain has to be agile, flexible as well as interactive. Agile supply chain management is all about coping with the minute and intense turbulences in the supply chain by quick decision making. This management approach has the capability of taking the company to a great success high. Dealing with an unplanned situation is what agile supply chain management stands for.
All the technologies, strategies and methodologies mentioned above are getting many takers in supply chain. These innovations enhance the supply chain by leaps and bounds.
At Gazelle we are try to utilize these technologies to bring in significant improvements to clients supply chain processes. Come to talk to us to understand how you can leverage these new trends to improve your supply chain initiatives.
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Supply chain industry is revolutionizing now a days rapidly and the digitization has made it possible.
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