- March 21, 2019
- Posted by: Sairam
- Category: Artificial Intelligence, Blockchain
The supply chain process has undergone a major transformation in recent years. New age disruptive and emerging technologies have helped create cost-effective and highly efficient processes, that have brought about rapid growth for this segment. The industry is seeing great strides in the area of predictive modeling, that is enabling businesses to cater to new and growing demand efficiently.
Supply chain businesses everywhere are in a transition phase, integrating their legacy processes with emerging technologies. Here’s a look at some of the popular supply chain transformation technologies that are most sought after.
This technology works on the concept of “segmentation and synchronization” of all the activities involved in the supply chain process. Implementing lights-out planning can result in significant improvement in productivity and efficiency, and reduction in working capital. It replaces human input for the planning process with machine learning that greatly aids in forecasting. From real-time scheduling of shop floor communication to final roll out of the product, lights-out planning can offer seamless automation of the supply chain process.
Blockchain is a tamper-proof digital ledger that enables manufacturers to keep track of the purchase volume, irrespective of who initiated it – the employees, partners, or subcontractors. This technology eliminates the need to recruit a professional team to audit transactions and the price-verification process. Manufacturing companies also benefit from fast closure of digital contracts and payments. Blockchain is also a great technology to secure supply chain transactions and identify malpractices instantly.
3D printing was first deployed in the prototyping division of the manufacturing house. In today’s fast-paced market scenario, 3D printing has enabled supply chain processes to run perfectly even for a batch size of only one. Product designs can be customized by the customers on the fly, while engineers can design spare parts in a short time. The high-level business value of this technology is the agility with which product customization can be carried out seamlessly and effortlessly. Reduction in manufacturing, production and distribution time is the single largest benefit here, while the process also generates minimal to no waste, reducing the carbon footprint of the manufacturing house.
Artificial Intelligence (AI) & Deep Learning
Amongst the new disruptive technologies, AI has the greatest potential to transform the supply chain process. From building prototypes, to automation, and real-time decision making, AI technology can be applied to every aspect of the supply chain. The technology enables manufacturers to gather real-time buying behavior to better understand customer needs. AI empowers manufacturers to gain predictive insights on how to improve operations, and improve customer engagement with Natural Language capable applications for voice and text.
The above disruptive technologies have changed the supply chain process from a cost overhead to a revenue-generating one. Manufacturers across the globe are actively adopting these technologies to suit their production and market needs. The key to implementing these technologies is finding the right partner, with the necessary experience in the required field of automation. This adds to the overall efficiency of implementing the technology and driving bottom-line growth.
Are you looking to streamline your supply chain processes for greater operational efficiency? InApp is an experienced technology partner helping companies implement cutting-edge disruptive solutions and we would be glad to help. Contact us to learn more.