The future of the supply chain - what does it hold for 2020?
The supply chain industry is in a period of transformation.
Over the past few years, the sector has accelerated and it’s fundamental to embrace the latest trends or risk falling behind.
Supply Chain Digital takes a closer look at three of the biggest trends that are set to shake up the space during 2020.
Artificial Intelligence (AI) & Machine Learning (ML)
It’s clear technology is showing no signs of slowing. Companies are digitising more than ever before and are harnessing technology in a bid to increase efficiency. With cybersecurity a serious concern for all businesses, AI can be used as a shield to guard against the threat. AI will continue to grow from strength to strength as processes become more advanced.
With sustainability recognised as a key pillar to many companies’ strategies, it’s important that firms understand how they can take more steps to be more considerate of the effect that their actions have on the environment. Greener logistics will look to minimise damage to the environment through transportation and resource intensive processes such as procurement, inventory management, warehousing, distribution and order fulfillment.
Supply chain firms have a plethora of information at their fingertips. Through utilising Big Data in the correct way, it will allow companies to better understand their customers and to gather vital business intelligence from it.
Whatever direction the supply chain ultimately takes during 2020 and beyond, it remains key that companies in the supply chain space remain agile and operate with a lean approach in order to achieve sustained success.
For more information on all topics for Procurement, Supply Chain & Logistics - please take a look at the latest edition of Supply Chain Digital magazine.