Supply Chain Trends

Supply chain management is a complicated and ever-changing industry. Supply chains are evolving to meet the needs of consumers, retailers, and manufacturers.

The trends in supply chain will be about the following:

  1. The use of blockchain to track goods in a supply chain.

Blockchain is a digital ledger that is decentralized across multiple computers, which can be used for tracking transactions and records among businesses, individuals, or devices on the internet without intermediaries. This technology will allow for more transparency in the supply chain process where there will be no need for third-party verification or middlemen. There are many companies that are currently using this technology including Walmart and IBM.

  • The use of drones for transporting goods from point A to point B.

Drones have been used for years as a tool for transportation and broadcasting video and pictures, but with the recent advancements in drone technology, drones can now carry 3D printers, cameras, and laptops. With the ability to carry these items up close to your final destinations, drones will be able to put an end to middlemen that are often times in the supply chain process. There are many companies using drones for the shipping process including Amazon and UPS.

  • The use of big data analytics for predicting demand and supply.

Big data analytics has become a major application in the world of marketing. The more companies are collecting data, the more data they have to work with. This means that companies can use big data analytics to understand who their customers are and what they want!

The same can be said about the marketing world. When sales teams are collecting data on their consumers and prospects, they’re able to see who is opening and making offers, what offers are being requested, and even how much money has been made from these campaigns.

Big data analytics helps to better understand consumer behavior by tracking purchase trends over time. It also allows companies to use predictive analysis on customer interests in order to identify current opportunities that could lead to future revenue growth.

  • The growing importance of retail outlets, such as Amazon, Walmart, and Target.

Brick-and-mortar retail has been on the decline in recent years. This is largely due to the rise of online shopping and stores like Amazon, Walmart, and Target. These retail giants offer a wide selection of products at competitive prices, convenience of having items shipped to your door step quickly, and often better customer service than physical stores. For example, Walmart announced this week that they would be closing 269 stores, which is roughly 16% of their total number of stores, in order to put more emphasis on online shopping.

The rise of online shopping has led retailers to emphasize their e-commerce presence even more by creating exclusive products and services that can only be purchased online. This is not only because competitors like Amazon are offering these products, but because shoppers are increasingly looking for convenience and alternatives to traditional retail locations. However, the benefits of brick-and-mortar retail still cannot be denied. These stores have a much larger selection of products and can offer in-person customer service that can’t be replicated with online shopping.

The question is, when it comes to the rise of online shopping has brick-and-mortar retail already died?

  • Increasing automation in manufacturing plants with robots taking over human tasks.

Robots have been used in manufacturing plants for decades, but the increasing rate of automation will be a major factor in shaping this industry. The use of robots has grown exponentially in recent years, and is projected to grow even more by 2019. A wide range of manufacturers are turning to automation as a way to improve efficiency and increase profitability.

According to Harvard Business School professor Clayton M. Christensen, “The days of just-in-time manufacturing are over.” Automation is replacing human labor and will continue to do so at an increasing rate. Industrial automation is expected to grow by 37% in upcoming years.”

These are some of the major trends that the field of supply chain and logistics are experiencing today. They are further believed to affect the domain in the many years yet to come.

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