How Technology can Transform the Future of Supply Chain

DISCLAIMER
Guest Editor Posts and Posts from unverified Authors are not censored. For copyright infringement claims, kindly contact us via email: dmca@360naijahits.com

How Technology can Transform the Future of Supply Chain

DISCLAIMER
Guest Editor Posts and Posts from unverified Authors are not censored. For copyright infringement claims, kindly contact us via email: dmca@360naijahits.com



With a boom in the logistics market, the logistics and freight forwarding companies will have to adopt policies that are cost-effective and which can help them achieve a competitive edge in the market. To gain that edge, it is necessary to make the companies distinct and different from other companies even if they have the same product services. The need of the hour is technological innovation.



Join Our WhatsApp TV

In almost all fields of human life, technological dependence is increasing day by day. Modern man demands modern solutions. The technological integration can help the organizations to meet various challenges from the starting point till the end and has been assisting in the following:

  • Handling of data
  • Customer support
  • Warehouse management
  • Predictive logistics planning
  • Inventory control
  • Transportation

The technological solutions in supply chain management have already transformed the whole process and with technological advancement on a daily basis, will continue to do so in the future. Some ways in which the technology is going to impact the supply chain are discussed below.

1.  IOT And Warehouse Management

The Internet of Things or IoT with the help of its latest technology sensors and networking can make the whole logistics process smooth. It can help share the supply chain information without requiring human contact. It can take care of the following things:

  • Supply chain monitoring
  • Vehicle tracking
  • Inventory management
  • Safe transportation
  • Automation of warehouses and vehicles
  • Delivery status

One of the major areas where it can help is that it is providing modern ways to carry out the jobs of the warehouses. With the installation of this software, the speed and efficiency of the following steps are going to increase.

  • Picking
  • Packing
  • Arranging
  • Storing
  • Kitting
You May Also Like  Huawei Android Phone not Getting Google Apps anytime Soon

By adding speed and efficiency to these simple jobs, the handling of larger amounts of products will become easier and safer.

Robotics:

Nowadays, robots are assisting humans in storing, packing, arranging the parcels and packages, in a smarter manner and in a shorter time. Research is still being done to assist humans beyond these simple jobs that can help save more time, effort and labor of the humans.

WMS Software:

The WMS Software with an amazing technology is the solution to many of the warehouse problems. It can speed up all the warehouse operations. Warehouse management software can keep an eye on all of the warehouse jobs and keep the record safe. In this way, it can

  • Offer better responsiveness
  • Save and organize the inventory information
  • Make better and efficient use of space in a warehouse
  • Reduce labor expenses
  • Improve customer experience
  • Increases transparency

2. Inventory Flow Optimization

Inventory optimization is another important function of logistics which involves the careful handling of the products by analyzing the statistics of the supply and demand of the products. The optimization in this step of the supply chain can add a great deal of efficiency in the entire process. It can

  1. Optimize product flow
  2. Avoid the wastage of products
  3. Be cost-effective
  4. Ensure margins
  5. Improve service
  6. Maintain an optimal number of products

With the help of technology, manufacturing and selling can be done in such a way that the company which has a higher demand for a specific product manufacture them in a larger quantity as compared to the products that are lesser in demand. These solutions also need to be speedy. For the logistics and freight forwarding companies, it has become vital to digitize the whole supply chain process. Because if the company runs out of products then it can badly affect its reputation in the market and if those products are manufactured in a larger quantity whose demand is lower then the company would either have to sell them at a lower price or the products could be wasted too. For better results the following things need to be taken care of:

  • Inventory Assessment
  • Cost Assessment
  • Order Planning
  • Assortment and Space Planning
You May Also Like  FG Approved Billions to Track Calls, Messages on Mobile Phones, and WhatsApp

The efficient performance of this function of the inventory control is thus very crucial.

RFID

But for bigger organizations with larger networks, it is not easy to analyze the information easily and to keep the whole process transparent. That’s where the Radio Frequency Software comes for help. It uses radio signals to share the detailed information of various products that are inserted in the microchips attached to different products thus making the whole process transparent and error-free. The details that the RFID saves describe the size and type of the product along with the information related to its manufacturing and place of origin. It also provides the information regarding the sale patterns and the time of the sale which helps a great deal in analyzing and deciding the best number of products to be kept in the inventory.

You May Also Like  New Fingerprint Security Feature Coming to WhatsApp

Moreover, as the return process is also optimized, it can result in better customer service and better speed.

3. Blockchain And Supply Chain

One of the revolutionary ideas in the field of Supply chain management is the integration of the blockchain in the supply chain. Blockchain being decentralized data structures can assist in solving major supply chain problems which are of Transparency, Visibility

  • It helps to watch over the whole process. Not only the blockchains record the huge amounts of data of physical flow, the informational and the financial flows are also recorded by them.
  • All the information right from its manufacturing to the final step of delivery, all can be recorded by the blockchains.
  • It can help in keeping the agents and the managers on the same page.
  • It can make sure that everything is happening in a smooth manner including the operations of inventory, transportation, payments.
  • It can make sure that the contract is being followed and the jobs are being done at various steps of the supply chain.
  • With speedy payments and transparency, efficient and timely deliveries can be made possible.
  • It can add visibility as the data is shared among the parties and this data is accessible from any part of the world.
  • It can add immutability as the data can’t be mishandled and can make the whole thing error-free.




Join Our WhatsApp TV





With a boom in the logistics market, the logistics and freight forwarding companies will have to adopt policies that are cost-effective and which can help them achieve a competitive edge in the market. To gain that edge, it is necessary to make the companies distinct and different from other companies even if they have the same product services. The need of the hour is technological innovation.



Join Our WhatsApp TV

In almost all fields of human life, technological dependence is increasing day by day. Modern man demands modern solutions. The technological integration can help the organizations to meet various challenges from the starting point till the end and has been assisting in the following:

  • Handling of data
  • Customer support
  • Warehouse management
  • Predictive logistics planning
  • Inventory control
  • Transportation

The technological solutions in supply chain management have already transformed the whole process and with technological advancement on a daily basis, will continue to do so in the future. Some ways in which the technology is going to impact the supply chain are discussed below.

1.  IOT And Warehouse Management

The Internet of Things or IoT with the help of its latest technology sensors and networking can make the whole logistics process smooth. It can help share the supply chain information without requiring human contact. It can take care of the following things:

  • Supply chain monitoring
  • Vehicle tracking
  • Inventory management
  • Safe transportation
  • Automation of warehouses and vehicles
  • Delivery status

One of the major areas where it can help is that it is providing modern ways to carry out the jobs of the warehouses. With the installation of this software, the speed and efficiency of the following steps are going to increase.

  • Picking
  • Packing
  • Arranging
  • Storing
  • Kitting
You May Also Like  New Fingerprint Security Feature Coming to WhatsApp

By adding speed and efficiency to these simple jobs, the handling of larger amounts of products will become easier and safer.

Robotics:

Nowadays, robots are assisting humans in storing, packing, arranging the parcels and packages, in a smarter manner and in a shorter time. Research is still being done to assist humans beyond these simple jobs that can help save more time, effort and labor of the humans.

WMS Software:

The WMS Software with an amazing technology is the solution to many of the warehouse problems. It can speed up all the warehouse operations. Warehouse management software can keep an eye on all of the warehouse jobs and keep the record safe. In this way, it can

  • Offer better responsiveness
  • Save and organize the inventory information
  • Make better and efficient use of space in a warehouse
  • Reduce labor expenses
  • Improve customer experience
  • Increases transparency

2. Inventory Flow Optimization

Inventory optimization is another important function of logistics which involves the careful handling of the products by analyzing the statistics of the supply and demand of the products. The optimization in this step of the supply chain can add a great deal of efficiency in the entire process. It can

  1. Optimize product flow
  2. Avoid the wastage of products
  3. Be cost-effective
  4. Ensure margins
  5. Improve service
  6. Maintain an optimal number of products

With the help of technology, manufacturing and selling can be done in such a way that the company which has a higher demand for a specific product manufacture them in a larger quantity as compared to the products that are lesser in demand. These solutions also need to be speedy. For the logistics and freight forwarding companies, it has become vital to digitize the whole supply chain process. Because if the company runs out of products then it can badly affect its reputation in the market and if those products are manufactured in a larger quantity whose demand is lower then the company would either have to sell them at a lower price or the products could be wasted too. For better results the following things need to be taken care of:

  • Inventory Assessment
  • Cost Assessment
  • Order Planning
  • Assortment and Space Planning
You May Also Like  How to Make Money (Minimum $700) Monthly This Year 2020

The efficient performance of this function of the inventory control is thus very crucial.

RFID

But for bigger organizations with larger networks, it is not easy to analyze the information easily and to keep the whole process transparent. That’s where the Radio Frequency Software comes for help. It uses radio signals to share the detailed information of various products that are inserted in the microchips attached to different products thus making the whole process transparent and error-free. The details that the RFID saves describe the size and type of the product along with the information related to its manufacturing and place of origin. It also provides the information regarding the sale patterns and the time of the sale which helps a great deal in analyzing and deciding the best number of products to be kept in the inventory.

You May Also Like  DStv: We Vow to Implement Pay-As-You-Go – Reps

Moreover, as the return process is also optimized, it can result in better customer service and better speed.

3. Blockchain And Supply Chain

One of the revolutionary ideas in the field of Supply chain management is the integration of the blockchain in the supply chain. Blockchain being decentralized data structures can assist in solving major supply chain problems which are of Transparency, Visibility

  • It helps to watch over the whole process. Not only the blockchains record the huge amounts of data of physical flow, the informational and the financial flows are also recorded by them.
  • All the information right from its manufacturing to the final step of delivery, all can be recorded by the blockchains.
  • It can help in keeping the agents and the managers on the same page.
  • It can make sure that everything is happening in a smooth manner including the operations of inventory, transportation, payments.
  • It can make sure that the contract is being followed and the jobs are being done at various steps of the supply chain.
  • With speedy payments and transparency, efficient and timely deliveries can be made possible.
  • It can add visibility as the data is shared among the parties and this data is accessible from any part of the world.
  • It can add immutability as the data can’t be mishandled and can make the whole thing error-free.




Join Our WhatsApp TV





Share Post:

Related Posts