The global supply chain is a vast, intricate system that touches every part of our societies and economies. And since economies today exist in a state of perpetual flow, there is always a need for better systems to manage their ever-changing conditions. This is where technology is helping in the optimal supply chain services and its management.
Supply chains are some of the most difficult challenges companies face, but many of them can be handled with the power of technology. It will continue to be shaped by innovations, creating a sustainable future for businesses, customers, and the planet.
1) 3D Printing
3D printing has transformed the world of manufacturing by allowing companies to build products faster. It can eliminate the carbon footprint to a certain level. It has been predicted that in 2025, 3D printing will cut the industrial CO2 emission by 5%.
This technology also helps in preventing the wastage of natural resources in a company. It can build products utilizing waste materials.
Blockchain is a very secure platform with the potential to be the preferred solution for boosting the transparency of sustainable supply chain management. It will transform the supply chain by improving efficiency and making it secure by eliminating frauds and errors, thus providing businesses with a competitive advantage.
By allowing them to record every stage of the supply chain right from the manufacturing in an encrypted format, it creates transparency and accountability. This push people to follow the right practices in a company.
3) Machine Learning and Artificial Intelligence
AI and ML are together touching human lives in a variety of ways. Even in the case of the supply chain, they are making many tasks easier.
For instance, AI-powered supply chain software are automating some business processes such as order and billing, demand forecasting, joint shipping, and so on.
The predictive analysis helps in identifying the potential issues in the supply chain. This will help you in preparing the solution beforehand.
4) Robotic Process Automation
When people started adopting online delivery, the companies had to increase their warehouse capacity as the customer expectations were also rising. This given to the boost of RPA utilization not only in the supply chain but in the health care as well in the Covid-19 pandemic.
It begin a different era of technological adoption allowing delivery of medicines using drones or automated disinfected machines.
5) Plastic Alternative
Considering the overgrowth of the plastic population on earth, every company is trying their level best to reduce it. Many alternatives to plastic have come into the market such as hemp plastic or eco-packaging methods. Scientists are working on bioplastic to protect the environment from plastic.
Internet of Things is one of the backbones of the supply chain. It helps in managing a lot of information in one place using connected sensors and a GPS. The real-time data provided by IoT devices enable quick data collecting and sharing.
With more and more businesses opting for sustainable supply chain management practices that bring clean energy, healthy food, and precious resources, they are growing increasingly sophisticated. And their next-gen modes of transportation and supply policies wouldn’t be possible without the leading edge in technological innovation. These innovations will do much in ensuring that the future is sustainable.