IoT, AI, wearables, blockchain & RPA are providing seamless and hassle-free management of supply chain flows while cutting down operating costs. Right from product development to its sale, organizations have to pay special attention to streamlining the internal activities for creating an impact on the organization's bottom line. For offering expeditious service to customers and to gain competitive advantage in the market, in this fast-paced digital world, companies should revise their supply chain activities and services with a focus on appropriate business strategies and state-of-the-art technologies. Technologies will enhance the speed, dynamics, and resilience of internal, as well as, external supply chain operations, which will, in turn, strengthen customer relationships, leading to increased revenue flow. Let's see some key supply chain technological trends, which will soon redefine the current practices, thereby helping companies experience operational efficiencies, market valuation, and financial growth.
Want to handle the trends and challenges of the industry in a better way? Want to increase the profitability? Want to handle the stumbling blocks that can cause delay and dent in your reputation? Make the right move in the direction towards a successful career and learning the skills to handle supply chain With Us! The key objective in this work field is to satisfy the client by fulfilling his demands, improve the company's responsiveness, create value for the client, make network flexibility and persuade monetary achievement. Since building and keeping up a supply chain network includes more than one association, the job is unpredictable and complicated.
Australia experienced its first taste of supply chain disruption when the COVID-19 pandemic began in 2020, with supermarkets unable to keep up with the huge spike in demand for products like toilet paper and dried pasta. There were also shortages of medical equipment and supplies, which caused some local manufacturers to pivot to produce essential goods, and the ongoing global semiconductor shortage. Not to mention the lockdowns that brought global manufacturing to a halt and caused chaos with the world's airfreight and shipping channels. A report from Citi, released in December, put it well, saying that global supply chains were "not designed to absorb the highly uneven stops and starts in demand and production that the pandemic has caused". It advised companies to review their supply chains based on lessons learnt from the pandemic, warning that "global supply chains we thought were optimised and secure were actually riskier than we originally thought".