Technology is the key to successful supply chain management

Have you thought about your supply chain strategy for the upcoming year? If not, I’d say it’s time to do so. We seem to be on the verge of a strategic crossroads between focusing more on the customer experience rather than mainly logistics and inventory management. Embracing the use of technology is said to relieve stress at the hands of supply chain managers and will continue to do so even more with artificial intelligence (AI) technologies in the future. Creating efficiencies to reduce time, cost and resources while enhancing customer satisfaction has become more challenging as time goes by.

This article mentions that companies must think outside the box when it comes to digital strategies in supply chain management in an effort to stay relevant and ahead of competitors. “Going digital” has now become a baseline for a successful business, so companies must now learn to adapt “digital enhancements” in order to stay ahead of the competition.

Another trend, in conjunction with digital transformation, is the use of AI as part of the supply chain strategy, as there are several technologies in the market that assist with supply chain management that incorporate functions of AI. We will see these technologies become more advanced year over year so the earlier that a company can adapt to these kinds of technologies, the better. Companies must not only develop their strategies each year, but rather implement the processes around technology so that they don’t fall behind and decrease their chance at advancement in the market.

What technological strategies do you imagine your company implementing in 2018?