3. How Technology is Revolutionizing Supply Chain Management

Today’s supply chains are not the same as they were a decade ago. Technological advancements have revolutionized the way companies handle transportation, inventory, and logistics. Thanks to this, it is now easier than ever before to streamline the supply chain management process and optimize every aspect of this important business function.

1. Automation
The automation of supply chain management is one of the most significant changes sparked by technology. Advancements such as warehouse automation, robotics and automated transportation routes can help reduce labour costs, increase efficiency, and improve accuracy. In addition, automation can help businesses reduce their carbon footprint.

2. Real-time tracking
Real-time tracking is essential to the supply chain, as it helps identify issues instantly and helps prevent delays. Digitizing data and keeping it in the cloud helps with tracking and allowing suppliers, receivers and carriers instant access to the real-time data, which reduces issues such as communication breakdowns and information loss.

3. Data Analytics
Supply chain analytics has transformed traditional supply chain management from reactive to proactive. The use of advanced algorithms to look at data can help companies identify patterns that may negatively affect performance, and put measures in place to minimise risks. These analytics can improve efficiency and overall performance, resulting in increased profitability.

In conclusion, technology has disrupted and is transforming the way businesses handle their supply chains. Automation, real-time tracking, and data analytics has eliminated the manual processes, added more accuracy, reduced costs and are leading to better supply chain management. It is important that businesses are aware of these changes and are ready to pivot to stay ahead in this constantly changing business space.