Contemporary developments in Supply Chain 4.0=Supply Chain 5.0? - PowerPoint PPT Presentation

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Contemporary developments in Supply Chain 4.0=Supply Chain 5.0?

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Using a mix of disruptive technologies properly to generate or deliver products or services is called Supply Chain 4.0. The technologies proponents of Industry 4.0’s are Internet of Things, Cloud Computing, Artificial Intelligence, Big Data Analytics, Machine learning, Additive Manufacturing, Robotics, Blockchain and Augmented Reality. – PowerPoint PPT presentation

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Title: Contemporary developments in Supply Chain 4.0=Supply Chain 5.0?


1
Contemporary developments in Supply Chain 4.0
Supply Chain 5.0?
2
  • Using a mix of disruptive technologies properly
    to generate or deliver products or services is
    called Supply Chain 4.0. The technologies
    proponents of Industry 4.0s are Internet of
    Things, Cloud Computing, Artificial Intelligence,
    Big Data Analytics, Machine learning, Additive
    Manufacturing, Robotics, Blockchain and Augmented
    Reality. The integration of these technologies
    provides better performance of supply chain
    processes in terms of resource utilization,
    efficiency, integration, collaboration,
    responsiveness, flexibility, quality and
    transparency.

3
Emerging idea of Supply Chain 5.0
  • The ultimate aim of integrating these
    technologies is to develop a cyber-physical
    system to cover supply chain processes. However,
    the Industry 4.0 revolution has observed a clear
    distinction between humans and machines,
    specifically robots. On the idea of achieving the
    maximum benefits from both humans and robots,
    some visionaries are spreading the idea of the
    Fifth Industrial Revolution also called
    Industry 5.0 the reconciliation between humans
    and machines.
  • Industry 5.0 seeks to take these highly
    automated, connected and intelligent digital
    ecosystems and pair them with a human touch. This
    means leveraging the human element in a way that
    helps customize end-user experiences, optimize
    workflows, etc. getting the best from both the
    people and technology involved in the process.
  • Industry 5.0 aims to cater to the
    hyper-personalization and hyper-customization
    needs of customers, which requires the right mix
    of human creativity and machine efficiency.
  • As Esben Ostergaard, founders and inventors of
    Universal Robots, which is a market leader within
    collaborative robots (cobots) puts it, while
    robots are excellent at manufacturing standard
    products in standardized processes in a high
    production volume, adding this so-called special
    something to each product is a challenge where
    robots require guidance.
  • Human touch is not only needed in customizing and
    personalizing products but also in ensuring
    seamless end-to-end supply chain processes from
    selecting the right raw materials to
    understanding the personalization and
    customization requirements of individual
    customers.

4
What market gap does Supply Chain 5.0 fulfills?
  • Supply chain 5.0 caters to the hyper-personalizati
    on and hyper-customization of customer needs,
    which requires the right mix of human creativity
    and machine efficiency. It puts people back into
    the heart of manufacturing, allowing them to
    focus on more creative tasks and cognitive
    problem-solving.
  • The supply chain 5.0 could bring in advantages
  • Improving on Efficiency, profit margins and
    customer delights by enhanced customization or
    mass customization.
  • Reducing Supply chain risk and making the supply
    chain more resilient based on more current
    information, artificial and human intelligence.
  • Enabling Logistics and supply chain functions to
    spend more time on strategic simulation and
    decision making and less on fighting fires or
    matters of basic execution.
  • Improving supply chain integration for more
    strategic partnerships.
  • Industry 5.0 is a visionary concept which aims to
    include the human, social, and sustainability
    aspects amid the current and highly focused
    technological scope of Industry 4.0.

5
Parting thoughts
  • To conclude we can say, Supply Chain 5.0 aims at
    mass customization, adds revolutionary
    technologies, improves supply chain resilience,
    enables a super smart and sustainable society.
  • If you believe that this is something you are cut
    out for and need 360 career assistance from a
    globally renowned institution, then you want to
    have a look at our Distance MBA in Logistics and
    Supply Chain Management at UPES CCE.
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