What comes to mind if we asked you the question of “What are the most important elements in a business?” Some would say relationships and the connections you form with those around you. Others would say a strong sales department, or the ability to get out there and sell whatever goods or services you’re offering.
But there’s one thing these answers tend to forget about, and that’s making sure your supply chain management is active. But what is supply chain management, and what trends should businesses adopt going into the future?
Well, it’s time to take a look at the future of supply chain management! But first, we need to start with…
What is Supply Chain Management?
Supply chain management is the process through which you can oversee every activity along the supply production line to make sure that everything is working as best as it can. The supply chain represents the different facets of a business that contribute to this production line (making the products, working out how to manufacture them, inventing new ones, etc.).
This term also encompasses any parts of the organization that keep data about the process or notify business partners of the updates along the chain.
What’s the Future of Supply Chain Management?
The first future innovation to supply chain management will come in the form of artificial intelligence. A.I startup companies pop up at a 2.1x rate now, and the technology has grown by leaps and bounds as a result.
A.I can integrate into the supply chain by allowing complex procedures to function independently from human work. This both speeds up the process and removes the danger to workers (like using heavy machinery).
Employees don’t need to worry about their jobs getting replaced though. A.I systems still need humans to perform product testing and learn new skills that technology cannot master. So employers get fast, reliable results while employees get a chance to learn brand-new skills without seeking a different job.
A.I can also help match suppliers with shippers to remove the expense of finding a partner yourself. Some companies even pride themselves on their ability to work their technology into your pre-existing stuff. That way, you don’t have to drop thousands of dollars on new software.
Additional technology can also let higher-ups view the progress along the supply chain without even leaving their office thanks to quick data recall and real-time data feeds. A.I programs will also record all the data you collect. Then, they process it into analysis to help you mitigate risk and consistently get out quality products.
Growth in the Industry
But it’s more than A.I that will upgrade supply chain management. The “industry” overall is on the rise, with 37% of jobs in the U.S being in supply chain management.
Communication will also grow in importance, as technology allows the global market to grow further. This in turn causes customers to demand more from a company with more variables in play. Thus, an emphasis on boosting customer service reputations will soon appear. Easier coordination with different parts of the chain will also allow higher quality and efficiency along the chain.
Master of the Chain
So, now that you know all about the future of supply chain management, you’re ready to start bringing these future innovations to your company today! And if you want to start now, reach out to us and let us know how our innovative program can help you!