5 Supply Chain Management Technology Trends To Watch For In 2021

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5 Supply Chain Management Technology Trends To
Watch For In 2021
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Introduction
The covid-19 pandemic has affected the entire
world, but it has provided a boost to the
logistics industry as well as a signal for
improvement in the old supply chain management
models. Today, every organization is attempting
to improve their supply chain through the use of
supply chain technology. Technology such as AI,
ML, and robotics can help supply chains shape up
and become more efficient with proper data
collection and centralization. Let's take a look
at these five technological trends
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AI and machine learning
With more opportunities comes more competition,
and it's more important than ever to boost your
productivity. Artificial intelligence and machine
learning can easily accomplish this. Use of
Artificial Intelligence and Machine Learning in
the supply chain provides access to more data,
ability to make better decisions, and decreases
the errors.
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Autonomous vehicles
For a long time, self-driving trucks have been a
trend in the industry. Despite the fact that
large organisations have invested billions in
autonomous vehicle startups, years of development
and testing must still be completed before they
can enter the market. These vehicles are likely
to serve a small number of interested customers
in the near future before being implemented
across the industry.
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Robotic automation warehouse robotics
In the logistics industry, robotic automation and
warehouse robotics have been found to be
extremely beneficial. Use of these automated
systems have reduced labor costs, improved
warehouse functionality, and product quality by
significantly reducing manual operations.
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Internet of Things (IoT)
IoT devices have changed the way supply chains
used to be managed. It's much easier to figure
out where goods are, how they're stored, and when
they'll arrive at a given location. Companies can
uncover new trends and tendencies by collecting
more data through connected devices, allowing
them to make better business decisions.
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Cybersecurity
For a long time, supply chain cybersecurity has
been a source of concern in the industry. Because
of the interconnected nature of supply chains,
which has devastating consequences, the logistics
industry is a prime target for cyberattacks.
Cyberattacks can lead to many negative
cybersecurity incidents for software providers,
supply chain executives, and their business
partners, irrespective of whose information is
exposed, often resulting in huge financial losses.
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Conclusion
In 2020, companies that invested in technology
outperformed their competitors. Brands must take
advantage of innovative supply chain solutions
that increase productivity and viability, enable
multichannel management, reduce workers burdens,
and can take their logistics business to the next
level in order to stay ahead.
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Thank You!