It’s no secret that supply chains always are evolving, but they are becoming more complex and customers are more demanding than ever before. With the rise of e-commerce and changing consumer behaviors, it’s important to stay ahead of the game and understand what’s to come.
If you want to learn more about what’s on the in the supply chain industry, keep on reading! In this blog post, we’ll explore some of the exciting trends and predictions that are likely to impact the supply chain industry in 2023.
Digitalization of Supply Chains
It’s no secret that the digitalization of supply chain processes has been on the rise for years—and it’s only going to get more important in 2023. Companies will invest heavily in automation and artificial intelligence to streamline their supply chain processes. The use of digital technologies can help businesses make data-driven decisions, optimize supply chain operations, and reduce costs.
The rise of digitalization can help businesses solve problems like:
- Lack of visibility into the movement of goods: Sometimes it’s hard to know where your goods are, and that can lead to delays, mistakes, and lost products. But, with a real-time tracking platform like IMI GO! you can stay on top of your shipments and make better decisions.
- Inefficiencies and waste: Another problem in the supply chain industry is inefficiencies, which can lead to waste, higher costs, and slower delivery times. A digital solution for efficient warehouse management can help reduce inefficiencies and eliminate waste.
- Manual processes and paperwork: Many supply chain operations still rely on manual processes and paperwork, which can be time-consuming, error-prone, and difficult to manage. A software as a service solution such as a warehouse- and delivery management system can automate and digitize these processes, reducing the need for manual labor and streamlining operations.
- Lack of collaboration and communication: The lack of collaboration and communication among different stakeholders in the supply chain, such as suppliers, carriers, and customers, can lead to misunderstandings and delays. An adaptive software solution like IMI GO! enable teamwork and information sharing in real-time, to improve collaboration and reduce delays.
These are a few ways AI technology will be used within the supply chain industry in 2023:
- AI-Enabled Predictive Maintenance: AI will be used to monitor equipment and machinery in real-time, detecting issues before they become problems. This will help companies run more efficiently, reduce their costs and improve the quality of their products.
- AI-Powered Supply Chain Planning: AI will be used to optimize supply chain planning, considering variables such as demand, inventory levels, and shipping times, reducing the risk of stock outs and overstocking. An example of this is Binary Brains, that provides AI predicting solutions to help business make smarter decisions.
- Real-Time Data Analysis: AI will be used to analyze data in real-time, allowing businesses to quickly make decisions to address issues that may arise in the supply chain.
Read more about how technology will impact the supply chain industry in 2023 by downloading Gartner’s 2023 Supply Chain Technology trend report here
