You have the best goods in your warehouse, but you cannot get them to consumers. Does this sound like a situation you’ve been in?
The solution is to establish a working supply chain, which depends on how much you know about the latest trends. With enough information about what consumers are doing, you will enjoy the best logistics experiences.
Here are the top five supply chain management trends to watch.
- Global Supply Chain Crisis
The ongoing global economic crisis has exposed serious flaws in supply chain management. It has forced companies to step back and rethink their business models. Though no one’s quite sure how long it will last, today’s sluggish economy has shown how vulnerable our supply chains are.
It has also highlighted how much can go wrong when companies aren’t careful.
- Supply Chain Technology
The emergence of a broad array of technology solutions in recent years has given rise to a new segment in supply chain management. They include solutions that address all aspects of supply chain operations. These solutions include:
- Inventory and sourcing
- Order fulfillment and logistics
- Customer service
- Shipment tracking
- Global payments
- Mobile applications
- Networking with overseas logistics companies
- Order placement and dispatch
When choosing an enterprise software solution for your business, consider your needs. You should also consider and see your company evolving in five years.
Technology is also used for project management as seen at konstant.com.
- International Trade
The world is becoming more interconnected, making international trade and supply chain management important. From geopolitics to mobile payments, things are getting better with each day. Most professionals underestimate the significance of supply chain technology.
Emerging technologies like blockchain and smart packaging provide traceability solutions. These solutions can identify problems or leaks in a company’s network, saving it both time and money. Moreover, technological advances have made it easier than ever for companies to expand their customer base.
Large corporations no longer need physical warehouses distributed across different continents.
- Food Safety Supply Chain Management Trends
The past decade has seen considerable developments in food safety. This includes increased public concern over food-borne illnesses, especially from large global producers. It’s no longer enough for companies to hire third-party auditors because they also need internal systems.
They have to ensure that every link in their supply chain is safe and clean. Food manufacturers must embrace technology, including mobile apps and remote sensors. These technologies keep track of conditions from production through delivery.
- Data Analytics
Big data is everywhere, and it’s generating more and more data every day. It makes sense, then, that many companies are investing in data analytics. They are also harnessing it as a way to improve their supply chain management efforts. Through this data, they can find solutions to problems that have rocked supply chains for centuries.
Get Supply Chain Management Services From Experts
The latest supply chain management trends are vital in establishing a vibrant logistics system. Yet, you may not have enough time or resources to do it yourself. That is why you should find a professional to manage these tasks on your behalf.
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