Supply Chain Technology

The advancements in supply chain technology have made it easier than ever for your businesses to create efficiencies, reduce costs, and improve performance across your operations. From cloud-based solutions, predictive analytics tools, artificial intelligence (AI) applications, blockchain technology and more – there are so many tools available to streamline supply chain processes. But with all these advances comes the challenge of keeping up with the latest developments. That's why we've decided to dive into all the biggest innovations in this area right now - let's explore the top four developments in supply chain management technologies are.

1. The Internet of Things

One of the biggest developments in supply chain technology is the Internet of Things (IoT). The IoT refers to a network of physical devices, vehicles, and other items that are equipped with sensors and software that allows them to collect and exchange data. The IoT has the potential to revolutionise supply chains by providing real-time visibility into inventory levels, shipment locations, and much more.

2. Blockchain

Another big development in supply chain technology is blockchain. Blockchain is a distributed database that allows for secure, transparent, and tamper-proof transactions. This makes it an ideal solution for tracking the movement of goods through a supply chain. Numerous startups and major corporations are already experimenting with blockchain-based solutions for supply chain management.

3. Artificial Intelligence

Artificial intelligence (AI) is another area that is beginning to have an impact on supply chains. AI can be used for tasks such as predictive analytics, which can help businesses to anticipate customer demand and make better decisions about inventory levels. AI can also be used for automated tasks such as order picking and routing, which can help to improve efficiency and reduce costs.

4. Augmented Reality

Augmented reality (AR) is another technology that is starting to be used in supply chains. AR can be used for tasks such as training workers on how to use new equipment or pick orders more efficiently. AR can also be used for quality control, allowing workers to quickly identify defects in products.

Conclusion

To summarise, the five biggest developments in supply chain technology are the internet of things, blockchain, AI, and AR. The possibilities that this technology unlocks is ground-breaking and can revolutionise existing supply chains. It's important to understand each of these innovative technologies so we can keep up with digitalisation efforts. But most importantly, when utilising new techs for supply chain operations you need to focus on coordinating efforts among all members of the supply chain. If done correctly, these five big developments definitely will help you gain an edge in today's competitive landscape and elevate your performance to a new level. Are you looking to increase efficiency within your supply chain? Get in touch to find out how we can help with your recruitment objectives and take full advantage of these five exciting technologies.