Key Trends for Your Supply Chain and Logistics Business

The supply chain and logistics industry heavily rely on technology and machinery in many processes and operations.

From managing demand to tracking sales, technology helps improve efficiency, transparency, and accuracy within the industry.

Since technology is always evolving and innovating quickly, it’s no surprise that companies in the supply chain and logistics industry are constantly challenged to keep up with trends and stay ahead of the game.

Today, we’ll discuss a few key trends in the supply chain and logistics industries that focus primarily on smart-tech and tech-driven management.

Companies in the industry can use these trends as a guide to improve internal operations, reduce operating expenses, and increase efficiency.

Strong Collaboration and Transparency Within the Supply Chain and Logistics Process

The concept of collaboration and transparency within the supply chain and logistics process isn’t new.

However, it’s only in recent years that this has become a more known challenge that many companies face.

For example, strong collaboration and transparency between the procurement department and suppliers can help businesses make more efficient supply chain decisions.

Supplier data can be used to locate trustworthy partners. It can also help businesses assess risks and trends in the global landscape to anticipate and prepare for future challenges.

Digitalization of the Supply Chain

Efficiency and accuracy are crucial in the supply chain and logistics industry.

Otherwise, companies can easily encounter supply shortages, extra warehouse storage expenses, and inventory issues.

Implementing digital solutions such as Industry 4.0 can help improve how companies monitor inventory and demand and make decisions based on data.

For example, the Internet of Things and cloud computing can be used to manage warehouse stock, optimize fleet routes, manage inventory, track orders, and reduce dead mileage efficiently and without human input.

Improved Risk Management and Resiliency

With the increase of globalization, risk management and supply chain resiliency have become an even more important discussion.

Proper risk management and resiliency measures will help companies prepare for unexpected and uncontrollable events (i.e., the challenges brought on by the pandemic).

Transparency throughout the supply chain, strong collaboration with suppliers, and a responsive team can ensure resiliency and risk management when disruptions occur.

How We Help

At SHEA Global, we specialize in various solutions that can help companies tackle challenges and leverage technology throughout the supply chain and logistics process.

We can help you manage your delivery routes, ordering routines, transactions, demand, inventory, and more.

We also have tools like demand-driven material requirements planning (DDMRP) that help optimize inventory and collaboration by relying on demand instead of forecasts throughout the supply chain.

Want to learn more about how we can help you? Contact us today!