While the third quarter for 2019 is winding down, there’s never any slowing in the world of supply chain. This has been a unique year full of diverse, interesting developments affecting global trade. When it comes to technology, some companies have one toe in the pool while others are already beginning to swim. At the same time, many businesses are still eyeing the water when it comes to recent innovation and advancements in tech. Here’s what you need to know about where our industry is headed.
Innovation in Supply Chain Technologies – Same Goal, New Playing Field
Within the supply chain industry, innovation has long been the name of the game, delivering critical advances as businesses sought to make improvements to their operating procedures and hit enterprise goals. Company by company, innovation takes many forms –a WMS implementation, an analysis and modeling of a supplier sourcing network, or even the exploration of multi-modal transportation solutions. Today, the accelerating pace and potential of technological innovation is astounding, and already breaking ground, positively disrupting status quo and company processes the world over. There are many, but to name a few key technologies seeking to revolutionize SOPs and blaze new trails—blockchain, artificial intelligence, automation, robotics, drones, and 3D-printing are entering the playing field to tackle complexity with orchestration. Though widespread adoption has yet to be fully realized to scale, innovation in the technology space is gaining key ground and will certainly become commonplace in many operations (if not most), in the next 5 years. And it will be huge.
IMPACT of Artificial Intelligence, Automation, & Blockchain
As enablers, these technologies are highly adaptable and serve a variety of applications that will hugely influence the manner that supply chains are architected.