Like most industries, technology has disrupted supply chain management too. The industry is abuzz with terms like IoT, cloud, machine learning, autonomous mobile robotics, analytics, and related technologies, all of which promise a future that will propel supply chain management to untouched heights of operational effectiveness.
Companies are re-thinking the way their supply chain is modeled and technology is revamping traditional ways of operations, all amidst mounting customer expectations. So what is in store for the industry in 2019?
Here are six ‘Digital Supply Chain’ Trends to Watch Out for in 2019
Digital Transformation efforts will increase:
As organizations start experiencing the real impact of digital technologies on their operations, more and more global companies will start adopting digital technologies in 2019. With increasing trust in these technologies, the topic will continue to make it big in boardroom discussions, and business leaders will begin to look at the scope of end-to-end automation and value stream optimization. In parallel, complex operations will become more and more digitized and functional aspects will become more robotics driven.
Budgets and resources will be reallocated:
From a lack of information to information explosion, organizations will soon realize that letting the pile of data grow will only be counterproductive in the long run. In 2019, the focus will shift to making sense of the available data with both budgets and resources being reallocated to using the existing data than investing in collecting more.
Data Quality will win over Quantity:
Data-driven decisions, a business reality made possible by Big Data and AI, are only as good as the quality of the data collected. Organizations will start investing in technologies that streamline and unify data improvement efforts. Machine Learning will largely eliminate errors and delays surrounding manual efforts. Filtering mechanism will bridge the gap in data. And, efforts will continue to join existing, traditional and future data sources in an attempt to build a more cohesive and holistic picture. The industry will also experience further consolidation of data-lakes where market leaders like Hortonworks will drive increased adoption of cloud-based data lakes and further enabling streaming analytics with data-at-rest and data-in-motion concepts.
The hotbeds for Digital Transformation:
Korea, Japan, Western and Northern EU, and North America will lead the digital transformation revolution in 2019. These regions will see positive growth in their digital ecosystem given supportive political, demographic and socio-economic factors.
The S&OP process will become more effective:
The ability to capture demand signals in real time from multiple sources will give organizations an accurate picture of the actual demand. This will enhance the S&OP process as real-time data visibility will ensure existing plans are viable, enable tapping into future opportunities and will realign plans as necessary.
Bottleneck management will improve:
The industry will witness a significant shift from rear-view to the predictive perspective of bottleneck management.
Systems to detect, rank and eliminate bottlenecks will be mostly automated and therefore, will be more effective and reliable.
End-to-end visibility will enable prediction of bottlenecks much in advance.