Supply chain logistics has seen a vast amount of change in recent years with technology being implemented to streamline the process and help small businesses to grow. But of these trends, which has had the most impact? Here, we have compiled a list of five different trends that have revolutionized supply chain logistics for the better in 2019.
Digitalization of The Supply Chain
As a number of types of businesses begin to digitalize files and other aspects of their business, the supply chain is one of the last to receive the modern makeover. Along with digitalization came increased speed and resiliency which, in turn, helped to generate much higher revenue. With the Internet of Things also providing a platform for information to be sent over Wi-Fi to streamline the process and keep every part of the business updated. Digitalization has had a huge impact on the efficiency, and consequently the revenue, of the supply chain.
The Implementation of Artificial Intelligence
Though digitalization is important to the supply chain, it is important to note that the implementation of artificial intelligence has also helped to revolutionize supply chain logistics in recent years. Though this is only commonly used in the warehouse element of the supply chain, this helps to locate and pick items from a storage room all while automatically calculating which items are still and stock and which items are not. In addition to this, artificial intelligence can help to assist workers within the wear house to prevent against injury from physically challenging tasks helping to make even international parcel delivery significantly faster.
Though cloud technology has continued to make everyday life far more streamlined, it is the supply chain that gains the most from the implementation of this style of technology. Not only does it allow for files to be shared with ease, but it provides better accessibility and cost containment, making it particularly beneficial for small business. With cloud technology, information can be sent between computers as well as between offices which allows supply chain logisticians to access data concerning materials, warehousing, or inventory regardless of their location or the task at hand.
Blockchain Technology Providing Transparency
Blockchain technology is another advancement that has revolutionized the supply chain for the better, as different parts of a business can send data on a customer-built platform. With payments encrypted by the system and saved with an individual number, payments and payment information can be accessed and read in a secure manner internally. This is great for small emerging businesses because it can streamline the payment process and ensure that there are no orders missed. This information can then be sent to other parts of the supply chain over the network allowing them to receive the information as quickly as possible. This streamlines the process and allows for orders to be processed significantly faster, as a result, making international deliveries significantly faster.
The Implementation of Chatbots
The final trend that has helped to transform supply chain logistics is the implementation of chatbots. This trend has allowed for leads to be dealt with quickly by the sales team and turned into conversions. Implementing chatbots has particularly benefited small businesses by allowing potential customers to register their interest beforehand, which allows the sales team to get in touch and begin the inbound marketing process as soon as they receive a request or question. This is particularly important for customers that have a specific interest as this will allow them to speak to a member of the team about a specific item you are selling.
Whether you are a small business looking to implement technology into your current supply chain or you are looking to modernize a number of processes, these trends can help you to achieve exactly that. Which will you be implementing for yourself?