Have you noticed any recent changes in the supply chain industry? As part of a highly competitive industry with business operations worldwide, you are probably already aware that new technologies are gaining popularity. The highly modernized business world in which we thrive is growing every day. As a company involved in supply chain management and logistics, you may have serious concerns about new strains of COVID-19.
If you haven’t heard, the supply chain logistics industry faces global disruptions and interruptions. The main reason is the worldwide spread of another COVID-19 variant called Omicron. The virus is delaying shipments and paralyzing trade activity in countries that are most wary of the virus’s spread.
However, this article will examine the latest technologies revolutionizing supply chain and logistics companies’ operations. The entire supply chain industry is experiencing massive developments and improvements. So, take a look at the top trends to watch in 2022.
Supply Chain Visibility in Real-Time
Supply chain visibility is not a new concept. It has been around for some time and lets logistics companies track their supply chain’s progress. Recent supply chain visibility (SCV) advances have enabled real-time data processing. Of course, this involves using advanced technologies such as artificial intelligence, augmented reality, and the Cyberspace of Belongings.
Real-time supply chain monitoring would be challenging without these technologies and real-time data centres. Thus, this is one of the top supply chain and logistics trends 2022. This technology can help optimize travel routes, predict weather conditions based on previous information, generate analytics, and calculate profit/loss based on established parameters.
Last-Mile Delivery Solutions and Micro-Fulfillment Centers
Many retailers want to get their products to customers as quickly as possible. Most companies implement last-mile delivery solutions to achieve this goal using industry experts’ latest technology and valuable information. In addition, the concept of micro logistics centres is emerging.
If you didn’t know, retailers must spend a lot of money if they can’t supply consumers in a specific region with the necessary products. Accidents, weather conditions, transportation issues, etc can cause delivery delays. Companies can set up micro-distribution centres using the latest knowledge to analyze and predict consumer demand in specific regions.
These centres will be located close to regions and consumers, facilitating the transportation of finished products from the manufacturer to the consumer’s doorstep. In the event of a disruption or delay in the supply chain, micro-fulfilment centres and last-mile delivery centres can meet the demand of specific consumers or regions. The concept is still in development but will soon be implemented using modern technology.
Self-Driven Supply Chain and Logistics Technical school (AI, AR, IoT, previously Fog)
Companies increasingly expect technological advancements and better solutions to existing supply chain challenges. As such, the number of investments and ideas continues to grow, and the pace of implementation and testing worldwide is increasing. One of the key things you will learn is that the world’s leading supply chain and logistics companies are using the most advanced technologies. The latest technologies include the Internet of Things, artificial intelligence, augmented reality, and cloud computing resources.
Companies can operate more efficiently in real-time by investing time and money into learning how best to eliminate logistical bottlenecks in the supply chain. With the technology mentioned above, they can assess risk levels and make predictions before making a transaction.
This is not just a single technology but a combination of several technologies that contribute to developing autonomous supply chains. The implementation of technologies will increase efficiency and reduce human errors.
Supply Chain Logistics and Digitization
Everything is becoming digital from one process to another as businesses worldwide rely on global technology. The technology of 2022 is much more potent than it was in 2010. Moreover, companies are working hard to automate manual tasks. They outsource routine tasks such as creating, sending, processing, and receiving payments and financial reconciliation to technology.
Additionally, digitalization allows companies to collect much more data than before. It is not just about charts and graphs that visually display data from the last one or two years. Digital devices and advanced technologies have allowed companies to extract useful information from all data. Digital technologies in 2022 can analyze all the data a supply chain logistics company has generated since its inception. It is worth noting that businesses do not rely on guesswork or unconvincing forecasts. Using forecasting tools, analysis, and reporting systems has increased the efficiency of all operations.
Reverse Logistics in Supply Chain
The concept of recycling and recovery is widely recognized and practised worldwide. From large multinational corporations to small businesses offering regional services, companies are starting to implement recycling and recovery methods. However, when it comes time for the final disposal of products, returning them to the manufacturer becomes quite challenging. Fortunately, this is where modern supply chain management and logistics technologies come into play. Professionals have developed a strategy, program, or idea called “reverse supply chain logistics.”
It involves returning products from the end consumer to the distributor or manufacturer for recycling or remanufacturing. The entire supply chain process is repeated for the same product and batch, but in reverse. Even the return of used goods costs billions, perhaps trillions of dollars. That is why companies implement reverse supply chain management and logistics worldwide.
Conclusion
Supply chain logistics companies do not operate on a small scale. This sector’s activity level is always large-scale and requires significant investments. To ensure the success of your business, stay up-to-date with the latest technology trends. You can precisely monitor your supply chain operations consuming the Internet of Things (IoT), artificial intelligence, and cloud computing. Moreover, technology can improve results and potentially create more significant growth opportunities during a pandemic.
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