Supply Chain Management has 3 Big Trends that drive the market.
These are the following trends:
Amongst all of the Supply chain management trends, supply chain ‘visibility’ remains key at the senior management level. Interestingly, as the supply chain gets more technologically robust, supply chain visibility is more and more a requirement by both providers of services and those running supply chains. Transparent supply chain management and effective supply chain visibility is a critical tool in a company’s continued growth and successful brand image.
This visibility helps connect supply chains to provide additional opportunity links to supply chains and receive more data. The Data can indicate issues with procurement, product quality, and delivery. Companies that can collect, analyse and respond quickly to issues are one step ahead of their competition.
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In order to continue to grow in the manufacturing industry and in business in general, traditional models need to be examined and innovation must be allowed to happen. ‘Distributed Manufacturing’ is the future of manufacturing.
Over the next decade, Industries will become a connected force of factories, manufacturers, distributors and end consumers. This network combines to achieve ultimate levels of efficiency. Rapid advances in the manufacturing sector are making it possible to build out an on-demand distributed manufacturing platform that will allow for a more effective and iterative product development life cycle. Increased technology adoption will lead to cheaper, faster, and more accessible manufacturing in turn driving the potential for increased product line diversity and turnaround.
Distributed Manufacturing is becoming the preferred method, and over the next few years we will see companies take a step back from scale manufacturing. In a technologically connected world, small teams will be, and already are, capable of managing large scale production.
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As manufacturing, transportation, and every aspect of humanity evolves in modern life, dependence upon the Internet of Things continues to develop and impact every facet of civilisation. In other words, as it more relates to manufacturing, distribution, transportation, and logistics that has also been thrown around is the “Industrial Internet of Things”. The logistic industry is going through a time of speedy and unprecedented transformation. The future of logistics is covered with innovation and technology. It was not long ago that ideas like 3D printing, the Internet of Things, drone delivery, and augmented reality were things of science fiction.
Nowadays, the industry is cautiously adopting these technologies to provide faster, cheaper, more reliable and sustainable delivery. At the same time, their customers – primarily the manufacturers and retailers – are wasting no time urging their 3PL logistic providers to integrate these technologies into their service.
It is obvious with modern technology, the huge impact of smooth SCM has helped industries cautiously adopt these technologies to provide faster, cheaper, more reliable and sustainable delivery.
What are your experiences within the current supply chain trend? It would be interesting to hear your experiences!
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