Amidst the growing market volatility, surging fuel prices and global market expansions. It has become more than ever important for companies to optimize their supply chain processes while achieving exceptional customer services. No doubt, technology is playing a crucial role in driving the supply chain management changes but the focus in 2016 is more on integrating these technology and innovations with the fundamentals. So, here are the top 5 trends that will impact the supply chain management:
- Omni-channel logistics – Omni-channel logistics will continue to trend as more and more companies are adopting the omni-channel mode,enabling technologies. Businesses are starting to invest in technologies that align with their omni-channel vision. As e-commerce continues to grow there will be lot of innovations in the way packages are deliveredwithout the concerns of theft and damages to goods. Real time inventory tracking will become an absolute necessity.
- Cloud –In 2016, most companies will make a transition to cloud to cut down the rising costs of labor, maintenance of legacy applications and infrastructures. Moving to cloud allows for level playing, as it is easy to deploy the technology and systems. Moreover, the companies that have overseas manufacturing vendors that work hard for improving the product quality, reduce costs and simplifying the process, the concept of report once and manage anywhere is quickly catching up. Thus moving the supply chain management processes to cloud allows companies to remotely access and manage their business.
- Supply chain visibility –Until recently collecting meaningful data and insights from supply chains was a cumbersome process, but with the advent of new technology, it has become easier to gather data. This data can, then be leveraged in supply chain industry to reduce forecasting errors and making informed forward planning decisions and for better predictions of product and parts demand. The ability to see the data more clearly and deeper enables the supply chains to improve and make them safer and more secure. This real-time visibility will result in better real-time inventory management.
- Big-Data–Now that the potential of big data has been evident in all parts of business, the same applies to supply chains too. The ability to quickly and easily capture the data from the vendors, operations and logistics, businesses can utilize this data to improve efficiency around shipments and transport. Companies that can take advantage of collaborative solutions to analyze and process this data will get as a result huge benefits of reduction in costs, risk management and capacity control.
- Sustainability–With growing regulations over carbon-footprint emissions and consumer concerns about sustainability. Businesses have to re-think policies to meet the standards.
The impact has been more visible in some industries than others for example the food and beverages industry is closely monitored by government regulations and customer awareness. In addition, the companies that have their own transport fleets will be pushed to reduce toxic emissions quickly than the companies that use carriers to move the goods. As the emissions generated by the company is tackled before the indirect emissions generated by their supply chain partners. So, businesses will have to leverage green technology opportunities.
In short, 2016 will be the year of blending the technology with business processes to achieve sustainable, cost-effective and holistic growth.
Author Bio:Neetu Singh is a creative and a technical writer focusing on Cloud trends, Cloud Computing, businessintelligence/ analytics, SMAC, Industry 4.0, CRM ERP and HCM technologies. A self-made influencer,Neetu is a wannabe Industry 4.0 and Cloud evangelist with penchant for Digital Marketing. Shewrites for Sage Software Solutions Pvt. Ltd., a leading provider of robust and scalable enterprisemanagement solutions to mid-sized businesses in India.