Almost every industry is directly or indirectly dependent on the efficacy of supply chain and logistics for enhanced performance. Given this dependence, the development or advancement in supply chain has a cascading effect on the complete value chain from production to delivery. Today, despite possible C-level pressure to reduce costs or prove short-term ROI, it is important for supply chain technology leaders to adopt a mind-set that accepts and embraces long-term perpetual change. One of the first steps towards this change is digital transformation of supply chains which is accelerating with time.
Experts foresee increased use of advanced analytics, machine learning and AI to proactively detect trends and insights on a path to a self-learning supply chain. Increased use of IoT and smart sensors enabling real time visibility and decision-support will drive further convergence of planning and execution across sales, procurement, manufacturing and logistics. IoT devices are also increasingly being implemented to enhance the visibility of supply chains. With the IoT technology in warehouses and retail outlets, there is more visibility in production, inventory management, and predictive maintenance.
AI can also be used in supply chain planning to analyze huge datasets and provide an analysis of supply and demand trends for better procurement. AI can even be used in conjunction with hardware, helping companies stay one step ahead. One example is using machine learning in the aftermarket industry where, with the help of sensors on machines, it can detect patterns and determine in advance when a part will break. With a multitude of use cases for new technologies, the disruption in supply chain is evident and is expected to continue.
We studied this industry segment in-depth and have come up with the list of 10 Most Promising Supply Chain Companies who have excelled in this field with their innovative approach. Having proven their dedication to quality and end-to-end addressal of customer requirements, these companies have stood out from the crowd.
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