Over the past couple of years, technological advancements have been a gamechanger for most industries and businesses across the globe. Supply chain industry is no different. Technology has shaped the industry by offering cutting edge solutions that drive innovation and efficiency in operations. As the number of people using the Internet is increasing exponentially, if, in this day and age, businesses fail to embrace technology and digitalization wholeheartedly, it is their loss in entirety. Thankfully, most forward-looking supply chain companies are now serious about leveraging data, analytics, KPIs and digital advancements for their growth and development. Earlier, the main objective of supply chain was to cut costs. Today, while the priority still remains cost getting, it also includes a lot more things ranging from customer satisfaction to efficiency and sustainability. Digitalization gives access to the best set of tools for tackling challenges at different steps of supply chain operations.
Though supply chain has experienced technology and automation for quite some time now, with companies now becoming more flexible, Blockchain, IoT, AI, machine learning and predictive analysis are all set to bring about transformational changes in the near future.