Supply chain disruptions are common, as is the rise in fuel prices and labor costs. According a resource around 59% of retail businesses are at risk of going out of business. It is therefore vital that companies stay up to date with the latest trends in supply chain management and logistic management to keep their business running and standing ahead of the competitors.
The following are some of the most important trends in supply chain management.
1.AI and Machine Learning : AI and machine learning technologies will continue to advance and be applied in supply chains in the future. According to Blueweave Consulting, the market for AI within supply chains will reach USD 20,196.6 by 2028. AI can be used to improve many areas of supply chain management such as product inspection, forecasting demand, sales forecasting and customer service.
Planwyse by Mojro uses AI and ML technologies to optimize and plan first-to-last-mile deliveries. The AI-powered software eliminates inefficiencies in logistics and improves the customer experience. It also improves supply chain management.
2. Real Time Visibility :
Visibility is key to effective supply chain management. Reduced visibility in the supply chain can lead to disruptions, loss of reputation and money. Advanced visibility solutions offer real-time supply chain visibility. Managers can make better decisions with real-time information.
Executewyse by Mojro provides real-time visibility of the logistics operations and can predict delivery times. It has advanced learning capabilities that improves ssupply chain efficiency.The intuitive control tower allows managers to monitor vehicles on the ground and track deliveries.
3. Big Data & Advanced technologies
Big Data and advance technologies are key for any business to stand ahead of the time and competitors. We utilizes advanced technologies to process data on the ground efficiently and assign drivers and routes accordingly. The software allows managers to optimize resource allocation, lower costs and improve client satisfaction.
Conclusion - To gain an advantage over competitors, business managers need to keep up with the latest trends in supply-chain management. The importance of supply chain management cannot be understated.
Logistics planning and optimization software, a future-proof and automated solution for logistics optimization, can help companies optimize their logistics operations which includes new age logistics problems. Contact us to know more.