Emerging Technologies are Expected to Drive the Future of Supply Chains
Rediscovering the supply chain industry technology has been instrumental in promoting retail business. The changing technology trends have made way for innovative supply chain practices, which contribute to the betterment of the business industry. Advanced visualization, improved responsiveness and potential to adapt to the real-time environmental changes add to the functionality offered by the latest supply chain technologies. The emerging software developments help in digitalizing the core operations of supply chains with a digitized set of tech-driven tools. The following describes a few of them.
• Intuitive Transportation Management System (TMS)
Supply chain generally involves cross channel communications. TMS has been specially designed to support such omnichannel processes. This system is based on a computerized transportation concept which is capable of optimizing the transit paths and identifying the routes which support the shortest route.
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• Shipment tracking device
To achieve seamless product delivery methods and to meet the customers’ expectations, recent software developments have introduced shipment tracking methods which help the delivery team to meet deadlines and expected accuracy levels.
• AI-based tools
Simulating intelligent machine-level assistants, artificial intelligence has been exponentially optimizing the supply chain processes. AI-based planning and implementation systems help in streamlining multiple channels such as the logistics, end users, the retailers, distributors and more. With the use of voice recognition technology, the supply chain industry is expected to bag higher revenue.
Catering to the practical challenges faced by different departments of the supply chain industry and raising real-time solutions to simplify complex procedures, emerging technology trends are expected to transform the supply chains. Digital supply chain tools found numerous ways to smoothen the industrial operations. Efficient supply chain functioning helps various other sectors such as logistics, retailers, manufacturers, distributors, etc., to achieve their immediate business goals.