5 Supply Chain Technologies impacting Supply Chain Management
September 1, 2021
Automated Manufacturing is the next step in supply chain technologies. With machines able to read code and assemble products with precision, we’re witnessing an evolution toward the direction of Industry 4.0. This industry shift offers many benefits to businesses: an increase in performance and production, reduced costs and risks from human errors, a broader range of opportunities for business partnerships, or even multiple channels via which your company can operate in this digitized realm. No longer limited by specific resources or restrictions bestowed by only allowing human labor, businesses to new creative opportunities making Industry 4.0 a reality now more than ever!
With the introduction of advanced technologies, hardware innovations, and real-time communication capabilities, supply chains have become easier to manage and navigate. From wireless communications to advanced real-time location tracking software for mobile devices, supply chains are now a lot less complicated to run – made modern by digital technology driving new ways of streamlining distribution from end to end. Here’s how we know it is changing:
Improved Supply Chain Communication,
Greater Efficiency in Supply Chain Processes,
More Transparency in Supply Chain Visibility
Top 5 supply chain technologies to progress your manufacturing business forward include
Automation and Robots
Blockchains for Supply Chains
The Internet of Things (IoT)
5G and Starlin
Product Lifecycle Management (PLM) Software
Automation and Robots
Robots already play a major role in the manufacturing of goods. When used efficiently, robots have been known to work faster and more precisely than humans. The concept of making product manufacturing fully automated is currently seen as highly plausible, thanks to developments in artificial intelligence carrying out faster and more reliable decision-making processes in real time. It means that not only will AI be involved with the automation process but also IoT will play a part too as robots will be connected to wider networks collecting data so that decisions are informed by big data insights to improve systems and bolster efficiency for greater success!
By seamlessly integrating digital applications like IoT and PLM into your automation strategy, you’ll help your machines communicate and better share data across your organization. Additionally, management can use this information to adjust how processes are regulated based on their thorough analysis and measurement of success. They can also better plan for future production thanks to the insight that this gives them about what is going well or not within future process improvements. The implementation may look different for each company, but the advantages are equivalent in allowing transparency, visibility, collaboration, planning, results, and return.
Some ways during which robots and automation are revolutionizing the manufacturing industry include:
Delivery robots: These robots can help companies save on labor costs and eliminate the necessity to put humans in a hazardous role, thereby also reducing health and safety costs and costs thanks to missed work.
Automated Vehicle: Self-driving vehicles are likely within the future, with humans and machines working together to make sure the safe transport of products and materials.
Sorters: Utilizing vision technology, these robots can learn as they are going (AI) to acknowledge various materials and categorize them accordingly, eradicating a menial and time-consuming task for humans.
Automated storage and retrieval: These are computer- and robot-aided systems which will move inventoried products as required for storage or use per consumer demand. IDC predicts that by 2023, 65% of warehouses could also be using robots and analytics to optimize storage and increase warehouse capacity by over 20%.
Blockchains for Supply chain management
Blockchain technology is changing the way that businesses do business. From supply chain management to cryptocurrency exchanges, blockchain has proven to be an invaluable tool. These distributed ledgers are digital and work to keep track of who owns what asset at any given time and provide instant verification of ownership by linking data through an encrypted system. In addition, companies will be able to execute transactions for goods using the blockchain as a secure way to ensure they know the full history of those assets!
IOT in Supply chain management
Industry insiders project that the IoT market will grow by 24% by 2027. Consequently, more and more aspects of Manufacturing will become connected and integrated to deliver insights and inform supply chain management. IDC Manufacturing Insights expects specific manufacturing businesses, including discrete manufacturers, process manufacturers, and transportation companies, to invest most heavily on IoT deployments. Additionally, taking advantage of improved manufacturing operations , production assets management , and freight monitoring and fleet management.
5G and Starlink
Supply chain management with the introduction of 5G will be a considerable shift to the industry, improving internet speed and latency or time interval for manufacturing processes. Telephone companies began rolling out this technology around the globe in 2019. Five years from now, researchers expect that almost 2 billion mobile users worldwide will subscribe to 5G. 5G networks differ therein. Telecom Companies involve cloud technologies to drive wireless connections. Software-based capabilities can advance automation and processing.
Additionally, Starlink may allow faster internet in additional rural areas, allowing manufacturing expansion into these currently neglected regions. Furthermore, Starlink provides satellite Internet access to increase online communications and connections. Starlink replaces expensive and unreliable services, giving remote locations a chance to take a position more readily in commerce.
Product Lifecycle Management (PLM) Software
Product Life Cycle Management software manages data and processes at each production, servicing, and sales across the supply chain. KloudPLM is a cloud-based software built with Salesforce, aiming to get better quality products in the hands of consumers faster.
PLM mitigates various issues faced by manufacturers throughout the lifecycle of a product- helping companies align and integrate critical resources and extend information for quick and efficient analysis and decision making. After Manufacturing is complete, it is essential for a manufacturer to keep track of their products throughout the product’s lifecycle. This means having access to high-quality data while also being able to organize and interpret information quickly. Additionally it aids to create better end products and services that reach consumers faster. The PLM software aims at integrating all individual capacities into one platform, increasing transparency for customers and partners alike.
Supply chain technologies aims to make things better. Advanced manufacturing trends are becoming consumers of higher quality products at a quicker pace and helping manufacturers pinpoint what’s working and where they will see improvement to continue serving the customer with their ever-increasing and changing needs and demands.
The future of Manufacturing is still evolving, but its far-reaching benefits are already evident throughout the industry. We are just starting to scratch the surface of the various capabilities of future Manufacturing. Because the world and consumers shift and grow, manufacturers have to be able to advance, too. Therefore, it isn’t enough anymore to efficiently meet consumer demand. Industry leaders now have to adapt to, analyze, and predict consumer demand before the customer is even conscious of their requests and as events are unfolding, further influencing consumer desires.