Top 5 Trends in Modern Supply Chain Management Process

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Top 5 Trends in Modern Supply Chain Management
Process From the first simple assembly lines to
today's advanced technology-driven supply
solution, the process of the supply chain has
been changing continuously. The new supply chain
systems think beyond increasing operating
efficiency to more integrated systems that
enhance management, planning, and execution at
every level of the supply chain. Why
Modernization is Necessary? The growing demands
of the customers and the complexity of the supply
chain process expect the business worldwide to
include more and modern techniques in the process
to increase customer satisfaction and
competitive advantage. A logistics company
implementing technologically designed practices
in the business can fulfil the customer needs
more time and expeditiously.
Demands of the customers are increasing
exponentially and these 5 trends are making the
companies able to keep up with the increasing
demands of the customers worldwide. 1.
Digitalization and IOT Digitally integrating the
supply chain adds value at multiple levels.
Including various software, wearables and sensor
systems connected with internet enhance the
third-party logistics suppliers to stay
competitive and provide better services.
Digitalization has the potential to dramatically
lower down the overall cost, explore new market
opportunities and increase product availability.
It simplifies day to day supply chain operation
allowing better management.
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2. Enhanced Visibility/Transparency The leading
forwarding companies and logistics suppliers are
adopting the latest technologies which can
provide transparency throughout the supply chain
operations. Latest inventory tracking allows to
manage and track the shipment remotely. Now
forwarders can quote their clients the actual
market rates which were previously not possible.
It has set new industry standards in the
logistics market by allowing the customer to
track the shipments and get live status of the
consignment and operations from any place in the
world. 3. Robotic Process Automation Many
robotic advanced companies have released various
automatic robotic systems which are capable of
eliminating the human efforts required in the
process of logistics. These advanced robotic
systems are equipped with artificial
intelligence that lends them with the human-like
problem-solving skills.
As more and more companies are adopting this
robotic technology it is expected that robots and
drones will soon become the inseparable part of
the logistics industry.
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• Usage Alternative energy
• To safeguard the environment for upcoming
  generations from harmful effects of ozone
  depletion and greenhouse effects various
  regulations by International Maritime
  Organisation (IMO) have been imposed on shippers
  for the usage of renewable energy and lower
  utilisation of sulfur fuels and diesel.
• The logistics industry has been very focussed
  towards recent environmental issues. It includes
  using sustainable methods and using renewable
  energy within the supply chain. Steps like this
  have made the logistics and transportation more
  efficient by keeping the freight low.
• Collaborative Relationships
• Today's market situation has facilitated the
  service provider towards more collaborative
  relationships in the world of supply. It has
  crossed the boundaries of organisation, region
  and departments and calls for a collaborative
  approach in-between the departments and partner
  organisations.

Latest Softwares are helping the enterprises to
interactively collaborate with other trading
partners, suppliers for planning and execution
activities. This collaborative relationship
enhances the operations in the supply chain with
better relationship management with customers and
other stakeholders. Final Thoughts As we are
witnessing more and more advancements in supply
chain operations, we will soon experience
excellent efficiency with reduced operational
costs which will transform the whole industry.