Supply chain management is a growing and evolving industry that may be difficult to implement, but is vital for the success of your business. If you don’t stay on top of the smartest techniques for supply chain optimization, you can hurt your bottom-line with out-of-date technology and cost-ineffective procedures.
Here are 4 supply chain trends we expect will emerge or continue to flourish in 2017:
Growth of Tracking Solutions
Tracking solutions such as sensors and other devices provide real-time data. When embedded in cargo and vehicles, the data collected will optimize supply chains based on real-time inventory snapshots. In 2017, we see shippers and carriers continuing to rely on tracking solutions for inventory management.
Demand can be forecasted more accurately by using predictive analytics. This includes search data and location tracking. By combining this aggregate information with web-search data, you’re able to draw more accurate forecasts to plan ahead. This year, expect to see predictive analytics used more to closely monitor inventory levels and ultimately improve forecasting.
Dependence on the Cloud
Reliability within the supply chain is a must; organizations will no longer tolerate data security risks that can ground their operations for hours or even days at a time. Aside from the cost effectiveness and time efficiency benefits of the cloud, the security risks that come with on premise data systems will continue to drive supply chain businesses to embrace the cloud.
As technology rapidly advances, so does mobile. Warehouses now have unlimited potential for mixing and matching their mobility options; from iPhone solutions to Android tablets to barcode scanners – everything can be done right at your fingertips. We predict user preferences such as ease-of-use and ergonomic needs will be the deciding factor in mobile solutions this year.
Evolution is key to ensuring your supply chain will survive, and thrive in today’s business world. In addition to considering adopting the strategies above, also think about incorporating more risk management tools that can minimize disruption and allow you to hit timely targets.
For help with your supply chain business, contact Brian Weaver or Patrick VanPutte at 516-240-5020. With over 30 years of experience, NSA will help implement the perfect solution for your supply chain business!