Emerging Technologies are streamlining the Complex Supply Chain Networks

By: Retail CIO Outlook | Tuesday, March 19, 2019

Today’s competitive marketplace demands productivity and efficiency and the good news is that the supply chain technology is all set to simplify and optimize all the business processes. Therefore, it is imperative for businesses to innovate and streamline the supply chain network so that they overcome any number of supply-chain related challenges, most of which directly affects the customer experience. With these incredibly high customer expectations, businesses need reinforcement in the form of technologies like artificial intelligence (AI), machine learning, and the internet of things (IoT).

Emerging Technologies and Supply Chain Management

Telematics is crucial in trucking, enabling the drivers to complete more jobs in fewer hours with real-time information on vehicle location, live traffic data, and route analytics. This technology is providing commercial drivers with a complete management program to improve operational efficiencies. It lets the drivers to navigate the closest rest points easily and even reschedule late arrivals with a voice on robotic process automation (RPA) platform.

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Predictive analytics is useful to address common issues, but its slow adoption in the freight industry has led to stagnation. Industry pioneers must step forward to increase its adoption since the proven benefits are significant. Smart supply chain management technology allows freight companies and retailers to be more agile by connecting trading partners with truck drivers and other carriers thereby optimizing return trips.

Technology can enable retailers to track their deliveries with real-time shipment visibility that tracks the elusive first-and-last-mile pickups, delivery milestones, location, and shipment status across all modes.

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Solving Complex Situations

Automation has simplified the business processes across the board, including in the supply chain, but not all retailers or supply chain providers are on board. Today’s era demands an economy in which every part of the supply chain, not just the complex transaction is automated. Automation is a lifesaver for retailers that are aiming to reduce complexities by offering a repository of information that automatically populates details; automate processes that lend to creating auditable records, and streamlining the entire payment process.