Digitalization is the biggest trend in the supply chain in 2018. That’s why all business entities including manufacturers are shifting towards the technology of digitalization to enhance their business efficiency. This shifting will enable them to employ quick decision making within the supply chain. This makes the supply chain to involve in various strategies to improve the organizational growth. Today, supply chain management is engaged in improving the brand reputation by employing the market competitive scenario within the facility. However, there present five trends that will gain more success and fame in future.
The cloud-based systems have become more emerging today and as manufacturers are moving towards this approach. According to IDC, the supply chain manufacturers have been shifting their desires towards this technique and almost 80% of the global transactions will commence by cloud-based systems by 2020. Why is this gaining so much fame? Actually, it helps to maximize the data analytics along with the projections of supply chain. However, the effectiveness of every strategy is based on the supply chain financing plan that any industry adopts.
The sensor technology in automation is really feasible for the environment of supply chain. The driverless vehicles in this regard have made the operations efficient and also safer. Although, it also reduced the burden from the shoulders of industrialists by minimizing the labor costs. Moreover, many organizations are also testing driverless technology in their warehouses to apply completely it in future.
The barcodes and tracking numbers were used initially as the standard method in the supply chain. Nowadays, RFID and GPS are used as an innovative approach for product tracking. In manufacturing industries, it can also be used to obtain the essential temperature at which an item can be stored, and it also predicts the time it can remain in cargo till delivery. In short, it helps to demonstrate the better concepts of the quality control.
It is basically a computerized network used to exchange and manage the information regarding the transactions. Now, various manufacturing organizations are using this network to reduce the errors that are present in other inefficient systems like fax, etc. According to IDC, Blockchain efficiency in transactions makes Maersk and IBM launch jointly the electronic Blockchain system for their product shipping. What would be its benefits for them? It will save billions of dollars annually that spend in the paper-based systems. This benefit will move them to achieve more benefits from this system.
Robotics is based on the creative approach and many global manufacturing organizations are moving their desires to make this technique to act completely in their organizations. Meanwhile, IDC analyzes that robotics will attain its place in 50 % of global organizations by 2019.