There are some supply chain technologies that are getting a lot of buzz lately.
The emergence of the Industrial Internet of Things (IIoT) and the advent of a network of connected systems are helping industries perform a multitude of tasks, such as material batching, picking, ordering, packaging, warehouse security, and inspection.
- The growth in the e-commerce industry worldwide and the growing need for efficient warehousing and inventory management drive market growth.
- Automation in warehousing offers extreme convenience when it comes to cutting down the overall business costs and reducing errors in product deliveries.
- Artificial Intelligence (AI)/Machine Learning (ML) Platforms, these platforms allow companies to ingest massive amounts of historical and real-time streaming data, clean and prepare it, and see if applying machine learning or AI algorithms and techniques to that data will provide valuable predictions for their business. In the supply chain realm, leading supply chain software companies are actively working to embed existing applications with AI and machine learning. For most companies this is a less risky and more cost-effective way to access the capabilities of AI.
- Using the full benefits of drones, drones have been a hot topic for a few years now. In the supply chain, they were mostly used for taking a package from one place to another. However, if you wish to improve supply chain management, you need to think outside the box.
- Using telematics technology, tracking a fleet of vehicles is now made simple with the help of telematics technology. Using a single platform, a supply chain manager can access data about all vehicles, road conditions, drivers, and much more.
With the help of all the strategies mentioned above, supply chain managers gather a lot of useful data. All applications and advanced technologies offer an easy-to-use environment that has strong reporting features.
Using technology to improve supply chain management is an efficient approach, we can see many examples in other industries.
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