Technological advancements in recent years have paved the way for brand new processes and opportunities, in addition to enhancing and developing existing ones to be more efficient and productive. No where have these advancements been more instrumental and transformative than in the supply chain, where vast quantities of products and parts are transported from manufacture, through processing and production, to the end consumer.
An effective supply chain of today is made up of both human and mechanical elements, and recent developments in technology have initiated some interesting new trends for supply chain management. This infographic outlines 7 trends in tech that are becoming key aspects of logistics and fulfillment.
Automation and robotics take the stage, most notably because of their significant advantages in accuracy. Since inventory is accurate just 63% of the time (on average) for the retail industry, automation offers a radical improvement. With the improved accuracy, fully-integrated companies are seeing as much as 20% increases in revenue as compared with their non-integrated competition.
The seven trends outlined in the infographic include:
- Automated Delivery using robots and other autonomous vehicles to increase efficiency.
- Robotic Picking allows supply chain leaders to cut costs, eliminate keying errors, speed up processes and link applications.
- Robotic Tracking using RFID enables fulfillment centers to improve inventory accuracy by 95% or better.
- Artificial Intelligence is better able to identify patterns and produce more accurate forecasts, which supply chain managers are using to make better decisions.
- Analytics: and big data technologies have radically improved logistics managers’ ability to plan operations, manage demand, and improve processes for maximum efficiency.
- Cloud Storage is now the most secure and efficient method of storing data.
- Immersive Technologies such as Virtual Reality (VR) and augmented reality (AR) enabling enhanced repair and maintenance capabilities in manufacturing, logistics and warehousing.
Take a look at our latest 7 Technologies in Supply Chains infographic (below), and feel free to download and share it.
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