7 Supply Chain Trends in 2023
The way things are moving in the worldwide supply chain is because the logistics industry is growing fast and keeping up with the latest technology. It can be hard for managers and executives to keep up, but it’s important for the strength of your supply chain and the success of your company. It’s better to stay ahead of the trends rather than trying to catch up later. Here are some of the newest trends:
Automation and Artificial Intelligence:
Instead of people doing tasks, machines are doing them using technology. But these machines can only do what they’re programmed to do because they don’t have intelligence like humans.
Customization:
Different parts of the supply chain will become more personalized. This might mean breaking down your supply chain into smaller parts and coming up with unique plans for each one.
Internet of Things (IoT):
Everything around us will be connected through a wireless network. This is already happening in the supply chain, especially in logistics, and it’s expected to become even more important with over 25.4 billion IoT devices by 2030.
Digitization:
Turning information into a digital format is called digitization. It’s important for the future of the supply chain, making things more efficient and strengthening the whole process. Electronic supply chain management (e-SCM) is a big part of this.
Risk Mitigation and Adaptability:
Because the world is getting more unpredictable, the supply chain is always at risk of problems. While you can’t control everything, you can control how your supply chain deals with challenges like bad weather, political issues, or unexpected events.
Higher Visibility:
It’s crucial to see where things are at every step of the supply chain. This helps you understand how the whole process is doing and lets everyone involved easily access important information.
Cloud-Based Solutions:
Conclusion
The future of supply chain management is in software that’s based in the cloud. This means you need solutions that are precise, flexible, and easy to use to stay competitive. This is just as important as the trends of digitization and automation.