Supply Chain Management - Top 5 Trends


Supply Chain Management is the process to source out the raw materials that are required by an enterprise/company to manufacture or create a product or a service in order to deliver to the customer.
The Supply Chain Management (SCM) software contains in itself everything from storage and all movements from the products, including all work processes are performed to get the products from the point of creation to the endpoint. This software keeps the operations flowing smoothly.
A successful business is the one which has the ability to forecast the sales demand, this can be achieved by having suitable Supply Chain Management software Implementation.

In the case of a poor SCM system, industries face huge losses and it also impacts the stages of production right from scratch.

The top 5 trends in Supply Chain Management that will bring revolution to the industry are going to be related to technology since technology is going to play a very effective role in making the SCM software more reliable. Let’s see what these trends are:

1. “Environmental Friendly” Supply Chain Management

Climate change is a real issue and the world now has started to do its bit in order to sustain the planet. This is a need of the hour and there is pressure on Supply Chain to focus on sustainable and green methods for the businesses.

The year 2020 is definitely going to experience a shift in SCM towards more green supplies with a circular supply chain. This supply chain will help in returning the product back to the starting point of the supply chain. Reduce, Reuse, and Recycle is going to be a great step towards green SCM.

2. The Rise of Cloud-based technology

With technology expanding its horizon, The use of cloud technology in SCM is going to rise with an exponent rate as it is cost-effective for small scale businesses and can be used from anywhere in the world.

The cloud has been a great help for businesses in staying connected to their Supply Chain at all times, which ultimately helps in making the business competent.

3. Influence of Artificial Intelligence & Machine Learning

Automation has become the new cool for industries and day after day, AI is becoming the favorite of everyone. Companies that use ERP and other managing software are especially preferring digitization and going paperless in order to reduce the room for errors. The year 2020 is surely going to be the year of the evolution of AI and machine learning.

4. Globalization

The world will experience globalization of small scale industries with the help of expanding technology. In recent years, digitization has helped in improving the visibility of companies even with less investment and resources.

5. Big Data and Supply Chain Crossovers

In today’s time, companies have access to enormous amounts of data about the user which is more than enough to know about their behavior and consuming process. With access to Big Data, SCM industries will be able to the past behavior of consumer which redefine Supply Chain as well.

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