Last Updated on September 24, 2023 by Ossian Muscad
As the world accelerates into a technology-dominated future, the supply chain management landscape is rapidly evolving. Trends such as cloud computing, artificial intelligence, and robotic process automation have begun revolutionizing not just supply chain software but the very functioning of supply chains.
But what are the current and upcoming trends that companies should be aware of to stay competitive? This article delves into the transformative path that lies ahead, highlighting key emerging trends in supply chain management you should monitor closely as we traverse 2023 and beyond.
What is Supply Chain Management?
Supply Chain Management (SCM) actively manages supply chain activities to maximize customer value and achieve a sustainable competitive advantage. It involves coordinating and collaborating with all parties, suppliers, intermediaries, third-party service providers, and customers.
This includes a multitude of activities, such as sourcing and procurement, conversion, and logistics management. By efficiently managing these operations, businesses can deliver products and services at the right time, location, and at the desired quality and cost. SCM is a complex undertaking, but it’s an integral part of any business striving for long-term success in today’s globally connected marketplace.
Top 10 Trends in Supply Chain Management
As trends evolve in the supply chain sector, businesses must understand and incorporate these changes to stay ahead of the curve. With the demand for speed, transparency, and efficiency increasing, we’ve identified the top 10 trends that are making ripples in Supply Chain Management.
Resilience
In an era of increasing uncertainty and unpredictable market dynamics, achieving supply chain resilience is becoming a key trend. This involves building a supply chain that can withstand shocks and disruptions, quickly recover, and even gain a competitive advantage in the face of adversity.
Digital Supply Chain Twins
Digital twin technology is crucial in replicating the physical supply chain. This digital model helps businesses analyze, predict, and optimize their supply chain, improving efficiency and reducing costs.
Blockchain
Blockchain technology is gaining recognition for its ability to enhance transparency and traceability. It provides a secure platform for transactions and tracking, reducing fraud and improving the overall integrity of the supply chain.
Supply Chain as a Service (SCaaS)
SCaaS is emerging as a flexible, cost-effective solution for managing supply chain operations. It allows companies to outsource certain aspects of their supply chain, enabling them to focus on core business activities.
Circular Supply Chains
As sustainability becomes more prominent, circular supply chains are gaining traction. These models focus on reducing waste, reusing resources, and recycling products to make the supply chain more sustainable and environmentally friendly.
AI and IoT
The integration of Artificial Intelligence (AI) and the Internet of Things (IoT) in supply chain management provides real-time visibility, predictive analytics, and intelligent decision-making, leading to enhanced operational efficiency.
Cloud-based Products
Cloud-based solutions offer a scalable and flexible platform for managing supply chain operations. They provide easy access, seamless integration, and cost-effective solutions for businesses of all sizes.
Robotics and Automation
Robotics and automation play a key role in improving supply chain operations’ accuracy, speed, and efficiency. They are reducing human errors and enhancing productivity in picking, packing, and sorting tasks.
Capacity Crunch
Managing capacity is becoming a significant challenge with increasing demand and limited supply. Businesses will need to innovate and find new ways to overcome this capacity crunch.
5G Networks
5G technology is set to revolutionize supply chain management with its fast, reliable, and real-time connectivity. It will enable businesses to manage their supply chains more efficiently, from tracking shipments to automating warehouse operations.
Manage Your Supply Chains Using a Low-code Platform
If your business is looking to stay ahead of the curve and leverage emerging trends in supply chain management, a low-code platform can be an invaluable tool. Low-code platforms are cloud-based solutions that enable businesses to rapidly develop applications and create various templates without writing any code. They can use the latest technologies, AI and IoT, without specialized coding skills or IT resources.
DATAMYTE is a quality management platform with low-code capabilities. The DataMyte Digital Clipboard is a low-code workflow automation software with a built-in checklist and smart form builder. This feature and its drag-and-drop interface allow you to create any checklist and form template you need—including those for supply chain management.
To create a checklist or form template using DATAMYTE, follow these steps:
- Log in to DATAMYTE and navigate to the ‘Checklist’ module.
- Click “Create Checklist” to create a new checklist or form template.
- Add a Title to the checklist or form template; select the category it belongs to.
- Click “Add Item” to add items to the checklist or form template.
- Add appropriate descriptions to each item, the type of answer required, and other relevant specifications.
- Assign the personnel responsible for completing the checklist.
- Indicate any required approvals from other relevant personnel, such as supervisors or quality assurance managers.
- Save your checklist; it will now be available on any device. You can also print a physical copy of your checklist.
DATAMYTE also lets you conduct layered process audits, a systematic review of critical process steps. This auditing method focuses on the areas with the highest risk of failure or noncompliance. By conducting LPA using DATAMYTE, you can effectively identify and correct defects before they escalate.
With DATAMYTE, you have the perfect solution for streamlining Supply Chain Management. Book a demo today!
Conclusion
The supply chain management landscape continues to transform rapidly, influenced by various trends that will reshape how companies operate and manage their respective supply chains. DATAMYTE, a quality management platform with low-code capabilities at the forefront of this transformation, enables businesses to leverage these trends and stay ahead of the curve.
With a robust suite of features, DATAMYTE ensures streamlined supply chain operations, ultimately enhancing efficiency and driving competitive advantage. Keep up-to-date with these trends and explore how adopting these technologies can revolutionize your supply chain operations.
