Four Cutting-Edge Technologies Manufacturers Need To Create A Dynamic Supply Chain Posted on : Oct 20 - 2018

Technology is the ultimate business catalyst. By leveraging the latest innovations, companies can transform into intelligent enterprises that create the right products and deliver them to consumers at the right time.

Disruptors like Alibaba and Amazon know this, and they’re using groundbreaking technologies to transform processes and create new business models that are shaking up traditional supply chain operations.

So, which innovations hold the most potential for helping organizations create their own dynamic supply chains?

Here are four revolutionary technologies companies are leveraging to differentiate their businesses:

1. IoT-powered digital twins

By attaching Internet of Things (IoT) sensors to physical goods, organizations can create digital twins of their real-life products and assets. These digital representations give companies access to real-time data that enables them to gain greater visibility into their supply chain operations and make real-time business decisions to meet – and even predict – customer demand.

E-commerce giant Alibaba recently used the data generated from IoT to transform logistics by introducing a unique delivery model in China that anticipates customers’ needs based on location.

Essentially, the organization analyzes structured and unstructured data – like demographics and weather forecasts – and uses the findings to pre-stock vans with products that customers in certain areas are likely to purchase. When a customer orders an item, the nearest van can drop it off within the hour.

The results have been game-changing. Instead of waiting for an order and fulfilling it, Alibaba proactively determines which products to place in which vans before a customer completes a purchase, cutting delivery time and saving money.

2. Machine learning

Machine learning uses analytics and algorithms to finds patterns in data, predict outcomes, and automate processes, enabling enterprises to effectively forecast and plan for the future.

For manufacturers and other supply chain organizations, being proactive rather than reactive is critical. Instead of waiting for a machine to fail and then fixing it, organizations can anticipate what could go wrong and prevent or correct it in advance – which eliminates downtime, avoids unnecessary costs, and increases customer satisfaction.

Machine learning can also reduce time spent on repetitive tasks, increasing efficiency and productivity and helping companies optimize their supply chain operations. View More