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First coined by Keith Oliver in 1982, supply chain management refers to managing all the goods and services required to transform raw materials into final goods.<\/p>\nFirst coined by Keith Oliver in 1982, supply chain management refers to managing all the goods and services required to transform raw materials into final goods.<\/p>\n
Supply chain management has always remained a core part of many businesses. Hence, manufacturers have been on their toes to implement new technologies to enhance efficiency. While some of these technologies have helped streamline supply chain management, others have created more problems than solving them.<\/p>\n
Consider the example of Manufacturing Resource Planning (MRP) technology. MRP was supposed to promise automation across production scheduling. But the inflexibility led to issues like machine breakdown and delivery failures.<\/p>\n
But that\u2019s how companies run, right? You conduct research, implement new solutions, learn from the shortcomings, overcome them, and create efficient processes. Following this improvement cycle, businesses have come across some game-changing technologies that have led to an evolution in supply chain management. Here are some of those:<\/p>\n
Managing warehouses has always been a critical challenge in the supply chain. Storing materials, packaging products, shelving, tracking, etc., requires a lot of resources, and managing everything overwhelms the managers. Artificial Intelligence (AI)-led automation and robotics can overcome these challenges.<\/p>\n
AI algorithms can automate all the mandated tasks associated with warehouse services. Consider the example of packaging. Based on the data fed into the machines through AI, they can pack the exact amount of the final product into a single packet without the need for any human intervention.<\/p>\n
Moreover, a combination of AI subset technologies like Machine Learning (ML), Deep Learning (DL), and Cognitive Computing help build the perfect robots for warehouse services. A robot powered by such technologies can help with lifting, shifting, and shelving in a warehouse.<\/p>\n
DL-powered robots can also track the course of their travel in real-time. These robots detect obstacles and avoid them to ensure the packed products reach their desired locations by capturing and scanning images.<\/p>\n
AI can also power autonomous vehicles (AV) to streamline last-mile delivery. One such example already in use is Nuro\u2019s self-driving delivery vehicles<\/a>. With a 360\u00b0 view and pedestrian-protecting front end, Nuro\u2019s AV is an excellent example of how businesses can use AI for supply chain efficiency.<\/p>\n It might be feasible for a lot of companies to have such robust technology-laden warehouses. Fortunately, they can outsource their requirements to warehouse services<\/a> that provide state-of-the-art facilities using the latest technologies.<\/p>\n Downtimes can cost companies a fortune. One of the primary reasons behind them is machine failure. What if you can predict such failures and avoid them? The Internet of Things (IoT) and AI can help you achieve that.<\/p>\n IoT sensors and devices can gather real-time data about machines. This data can include temperature, last maintenance schedule, machine\u2019s age, etc. After collecting the data, IoT devices can send it to AI algorithms.<\/p>\n AI can analyze all the data to generate insights like the optimal time to shut down a machine for cooling, how frequent is maintenance required, or is it time to replace the equipment?<\/p>\n IoT also helps monitor raw materials and final products. Some materials should be kept in a specific temperature range for extended shelf life. If the temperature goes above or below the spectrum, it can impair the end products. IoT sensors are capable of fetching and sending real-time temperature data. It can also trigger alerts when required to take necessary actions to prevent wastage.<\/p>\n Similarly, you can also monitor and keep track of deliveries with the help of IoT devices. With the real-time information on goods\u2019 location, suppliers, manufacturers, and distributors can prepare for their arrival for a scheduled material flow across the supply chain.<\/p>\n Problems with a single component can directly impact the entire supply chain. Hence, transparency becomes vital. There must be a clear communications channel, regulations, accountability, and traceability among all the supply chain participants.<\/p>\n The core purpose of blockchain technology<\/a> is security and traceability. All the data recorded on the blockchain network are immutable, as altering the data requires permission from over 50% of the network\u2019s core participants. Implementing this technology for the supply chain means that everyone will know about all the changes made to data.<\/p>\n Consider the example of the delivery chain. Suppose you are a retailer and have received a consignment lately, impacting customer relationships. You question the distributor for late delivery, and he says that it\u2019s the manufacturer\u2019s fault. When you ask the manufacturer, he says it\u2019s because he received the raw materials late. The loop will continue, and you will never have an answer.<\/p>\n With blockchain, you can ask everyone to log data like the delivery time of consignment on the ledger network. Hence, you can go through the data on the blockchain to detect where the assignment got late.<\/p>\n Industry 4.0 is here, and the use of technologies to survive in today\u2019s competitive market is inevitable. You can see the use of these game-changing technologies already in practice and the results that follow. You, too, can benefit from them if you make a move now.<\/p>\n","protected":false},"excerpt":{"rendered":" First coined by Keith Oliver in 1982, supply chain management refers to managing all the goods and services required to transform raw materials into final goods. Supply chain management has always remained a core part of many businesses. Hence, manufacturers have been on their toes to implement new technologies to enhance efficiency. While some of… Game-Changing Supply Chain Technologies to Look out For<\/span><\/a><\/p>\n","protected":false},"author":17,"featured_media":10512,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-10511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/10511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/comments?post=10511"}],"version-history":[{"count":2,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/10511\/revisions"}],"predecessor-version":[{"id":10514,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/10511\/revisions\/10514"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media\/10512"}],"wp:attachment":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media?parent=10511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/categories?post=10511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/tags?post=10511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Internet of Things for Predictive Maintenance<\/h2>\n
Blockchain for Supply Chain Transparency<\/h2>\n
Conclusion<\/h2>\n