Innovations that are Transforming the Supply Chain

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In the last few years, the supply chain and logistics sector have been advancing at a rapid pace. The global marketplace continues to evolve and it’s natural for experts in the supply chain to think innovatively and try to keep pace with them. Therefore, they keep coming up with innovations that have the potential to completely change the supply chain industry. Listed below are five of them that have been making a lot of noise recently.

Big data

If you’re not a statistical analyst, big data may seem to you just like a collation of graphs and numbers. However, professionals in every industry use the information they collect this way to take their operations to the next level. Big data has a huge impact on the supply chain industry, especially now, when AIs being introduced into the field. Big data is used to identify the strengths and weaknesses of every approach and come up with detailed projections for the future.

3D Printing

We’ve all heard so much about 3D printing in the last few years and one of the fields that have seen immense value in this innovation is the supply chain. Just the fact that items can now be manufactured on demand makes saving money and reducing inventory requirements much easier. Not to mention that the digital files allow new iterations to be produced in a timely fashion and at the lower cost. These files can easily be sent around the globe and 3D printed almost instantly.

New storage solutions

Maintaining a sense of organization has always been central to suppliers. With so many items and equipment in the warehouse, this can be more difficult than it seems. Luckily, experts keep coming up with new storage solutions that have for a goal to increase warehouse productivity. Another reason why relying on these solutions makes sense is because they make running a greener business much easier. With the entire world moving towards trying to preserve the environment, investing in state-of-the-art storage solutions can turn out to be an amazing idea.

Shipping containers

Blockchain

Another innovation that had a huge effect on the entire business world is blockchain. For those who don’t know, this is a permanent digital record of transactions stored in a decentralized network. What this innovation brings to the supply chain is a perfect way to save both time and energy. Facilities can now rely on smart contracts to execute themselves and focus more on their core operations. On top of this, a blockchain allows easier asset tracking which is an important part of the supply chain.

Autonomous vehicles

The concept of autonomous vehicles can revolutionize the supply chain. We already got to see self-driving devices being used in warehouses but it seems this innovation is about to take one more step ahead. Giants such as Google are already working on the concept of autonomous driving and we can expect to see some important news being released in the future. This means that we’re not too far away from seeing autonomous trucks on the road transporting products.

Final thoughts

There’s no need to say that people will continue to come up with new ways to use technology and data to improve their operations. Without doubt, this is going to be the case with the supply chain industry and we can expect to see some new innovations that’ll make getting the product to the customer even easier. Keep a close eye on the five innovations covered earlier in this post as all the industry leaders have already found ways to put them to use.

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