Consumer demand is rising in just about every conceivable industry. Customers want their products better, faster, and stronger; and as they adopt this mantra of “more, more, more”, companies have to keep up. In order to do that, they would have to make some drastic improvements or outright changes in the way they do business through industry innovations – particularly in the supply chain.
Just as advances in Internet-based platforms are improving the way people connect, communicate, and consume, advances in telecommunications, automation, robotics, and information technology are giving industries more power to control, oversee, and optimise their businesses to meet ever-growing demand.
It is no surprise, then, that the latest technologies are the cornerstone of business innovations for the foreseeable future. In this article, we will be taking a look at some of these innovations that are trending among companies and seeing how newer businesses can integrate them into their systems.
Supply Chain 4.0 is the manifestation of the Digital Supply Chain of the future as enabled by many of the Disruptive Technologies that we all hear about every day. Here we review our Digital Supply Chain infographic.
Everyone is impacted by the advancement of technology in both their personal and professional lives. And that impact will only become more profound as time goes on.
The Internet of Things (IoT), Artificial Intelligence (AI), Virtual Reality (VR), Cloud Computing, Blockchain, Robotics, Big Data, Advanced Analytics and more are terms represent the technological breakthroughs that are being made every day.
For those involved in Supply Chain there are deep impacts that are occurring, and that will continue enabled by the evolutionary and revolutionary change that is enabled by technology. Let’s look at the Digital Supply Chain infographic.
When I started in the distribution space, I was told “…business is simple…cases in, cases out.” Reports were on green bar paper and forklifts were everywhere. As the distribution space evolved, the reports became spreadsheets and forklifts remained very important as they are coupled with the latest and greatest automation.
Supply chain improvements over the last 15 years have been incremental at best. The advances we are making in the supply chain powered by Augmented Reality (AR) are going to be wildly disruptive. The supply chain community that leans into AR and gets it right will come out the clear winners for every perspective: simplicity, safety, quality and productivity.
Manufacturing technology helps power forward the industry into areas it has never been before. It can also help cover every section of your manufacturing process that you could even think of.
This includes being able to accurately calculate the real manufacturing cost of our products (and meet customer cost reduction requirements), by measuring things like failures in production, repairs, products return from customers, scrap of products and components, and late deliveries of products to customers.
Here we provide the Digital Supply Chain Overview video for you. Supply Chain 4.0 is the manifestation of the Digital Supply Chain as enabled by the proliferation of Disruptive Technologies that are permeating every aspect of our lives.
The Digital Supply Chain Overview video, created and published at Supply Chain Game Changer, is focused on the Digital Supply Chain, or otherwise called Supply Chain 4.0, because of its profound impact in defining the Supply Chain of the Future!
The intersection of artificial intelligence (AI) and fintech is one of the most rapidly growing and promising areas of technological advancement. With the rise of automated services and algorithms that can quickly and accurately process large amounts of data, AI and fintech is revolutionizing the way financial institutions, businesses, and consumers interact with each other.
This intersection is also creating several legal issues and implications that need to be addressed. In this article, we’ll explore the legal implications of the AI-fintech intersection and how it affects the way we use and protect data, contracts, and intellectual property.
Everyone knows that we live in an increasingly tech-centric world that sees us spending more time online. This is certainly true when it comes to supply chain management in business and the future of cybersecurity, for example.
Modern management of supply chains involves the latest software and tech platforms to track goods in transit or manage stock levels. Digital tech is also very important across not only the whole business sector but also our personal lives.
Virtual reality (VR) is something we’ve been hearing a lot about recently, but did you know your shopping experience could be influenced by this in the not too distant future? Or perhaps it already has?
First, a “Prime Objective” of the Shasta EDC is job growth in the manufacturing and technology sectors, including the use of collaborative robots. This is our key focus. However, the recruitment, retention, and expansion of our companies is equally important.
There is obviously a symbiotic relationship between employer and employees. However, from time to time there are talent gaps that emerge and technologies that force us to rethink our approaches to business.
Data shows that the number of manufacturing jobs are declining, and the jobs that remain are shifting to a mixture of the traditional and tribal knowledge around manufacturing and a blend of technical knowledge that helps to augment current manufacturing with the practical application of emerging technologies.
The advancement of digital technology enables the real-time, intelligent management of the Supply Chain. This now means you need a Control Tower.
But any company’s Supply Chain can still involve tens of thousands of skus, thousands of bills of material, thousands of suppliers, hundreds of transportation vendors, dozens of manufacturing facilities and distribution centres, and numerous customers.
So even if you have a Digital Supply Chain how do you manage this complexity? The answer is that you need a Control Tower!
Customer expectations are changing as new sales outlets are being used. With the application of social media, omni-channel and e-commerce customers now have more price options, selections, delivery methods and shopping experiences. The ability of a business to keep the customer satisfied greatly depends on fulfillment capabilities, such as with the use of warehouse robots.
Progressive businesses have realized the critical nature an operations strategy has on designing a working supply chain. Combining distribution and fulfillment operations into a single facility has become the base of the supply chain network, as they allow a single location to stock a vast number of products and service multiple channels.
From The Terminator to Blade Runner, pop culture has always leaned towards a chilling depiction of artificial intelligence (AI) and our future with AI at the helm. Recent headlines about Facebook panicking because their AI bots developed a language of their own have us hitting the alarm button once again. Should we really feel unsettled with an AI future?
News flash: that future is here. If you ask Siri, the helpful assistant who magically lives inside your phone, to read text messages and emails to you, find the nearest pizza place or call your mother for you, then you’ve made AI a part of your everyday life.
A cynic. A skeptic. A person, utterly exhausted with seeing those two letters: AI.
As we see from Deloitte’s CPO Survey in 2018, AI is only fully deployed in 2% of procurement organizations and is far from making any real impact at scale within the digital ecosystems procurement teams are so eagerly trying to build. To top it off, there’s only 27% percent of procurement leaders considering AI/Cognitive technology, and 55% who haven’t considered it at all.
Cut to 2019, Deloitte published its newest CPO Survey where they found that 81% of chief procurement officers with fully implemented solutions in the space of Supply Chain Risk & Compliance Management aren’t satisfied with their solutions.