Advancements in the Digital Supply Chainwp_admin
In the past few years, technological advancements have rapidly changed the way a supply chain works, with autonomous trucks drastically improving the efficiency of transportation, and drones increasing the ability to reach customers. Due to all of these changes, it’s critical to know which ones are important to your business. With that being said, the most wide-ranging and impactful developments are that in Artificial Intelligence (AI) and blockchain technology.
Artificial Intelligence in the Supply Chain
AI is manifesting itself in many ways through every sector imaginable, but it’s arguably has the most potential in supply chains and logistics. This is mainly due to the constant demand to achieve more and more with the same materials and personnel. This means that any improvements to efficiency helps deliver better results.
Autonomous vehicles, namely long-haul trucks, greatly help reduce wasted personnel time and effort. By not requiring a driver behind the wheel at all times and by improving the efficiency of the vehicle, transportation companies stand to gain large benefits by implementing autonomous vehicles.
Another place AI can improve the supply chain is with machines in factories and plants. From doing simple tasks like moving an item from one conveyor belt to another, to assembling automobiles, machinery in factories are adapting to handle a wide variety of tasks previously held by a dedicated job. This helps by reducing personnel costs, and by improving the speed of operations across the manufacturing process.
Blockchain in the Supply Chain
Along with advancements in AI, blockchain technology has the potential to revolutionize logistics and the supply chain. The main idea behind blockchain technology is the concept of a distributed ledger, or a decentralized record of all transactions and deliveries. This allows all members of the supply chain to see the same information and have a record of everything that has happened. This advancement could have a long lasting impact on a variety of industries. For example, in the food services and meatpacking industry, having a record of where the product has been and under what conditions it was stored is critical to ensuring the integrity of the final product, since any compromise in any stage of the transportation and processing of the product could result in disastrous consequences. Therefore, blockchain ensures that any problems in the supply chain and transportation network are caught and dealt with appropriately.
At the forefront of adopting these new technologies is TPSynergy. Our blockchain solutions help bring visibility and actionable information to all members of the supply chain. Contact us to schedule a free demo to learn how we can help implement blockchain into your supply chain.