Supply chain technology always evolves, changes to meet the needs of the global supply chain, and offers huge benefits.
With the new year, we take a moment to reflect on the state of the industry and the trends shaping it for the remainder of the year.
The supply chain technology trends 2020 has to offer are nothing short of worthy.
These trends reflect the growing demands for more service, more value, faster shipping, cheaper shipping, and an unrelenting pace to predict what’s going to happen next.
Let’s take a closer look at the top six trends, derived from both Steve Banker via Logistics Viewpointsand of course the 2020 State of the Third-Party Logistics Industry Report.
Paperless Warehouses Will Leverage Automation
Adding value to the supply chain will become the cornerstone of successful management throughout 2020. Forward-thinking 3PLs need to leverage the voluminous information flowing through their supply chains to make informed decisions, better predict future demand, isolates trends and potential problems, and manage workflows to meet such demands.
E-Commerce Customer Expectations Will Grow
Customers play a significant role in what supply chains will do to ensure timely, accurate shipping and delivery. The average volume of e-commerce packages has increased more than 20% since 2018, and with all organizations looking to achieve 100% transparency, customers expect to know everything. It is not enough to offer the lowest-cost shipping in today’s world; shippers must offer shipping that defies logic and reason, moving products from warehouse to customer within mere hours. In addition, the likelihood of customer expectations increasing further only continues to grow, and customers play a vital role in building brand reputation.
Business Intelligence and Analytics Will Dominate 3PL Selection Choices
The overwhelming majority of shippers and 3PLs, 95% and 99% respectively, agree analytics are essential to success. With that in mind, only 26% of shippers and 27% of 3PLs believe current analytics capabilities meet this requirement. The rationale for these issues may vary, including a lack of access to data, inability to understand data, and poor categorization of data.
Integration Between Systems Will Finally Get Traction Throughout the Market
Integration stands apart is another key trend affecting supply chain technology throughout the coming year. As organizations look for better ways to deliver more value to customers and business-to-business partners, the integration will be key to streamlining picking, packing, and shipping operations. After all, systems that do not communicate and rely on disparate processes will lead to inefficiencies and added costs.
Supply Chain Leaders Will Use Billing Automation to Enhance Accounting
Another dominant trend to expect in 2020 goes back to automated billing and accounting practices. In the past, the use of auditing programs and accounting software stood apart as a key area of added value for Cerasis’ clients, and the market hadn’t taken hold of the opportunities for automation in accounting.
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Source: SupplyChain 24/7