All responsible companies are now looking at ways to refine their supply chains to ensure that they are as efficient and as green as possible.
The good news is that many of the latest technologies can be used not only to make operations more efficient and as a result more profitable but that they also have a positive environmental impact by reducing waste and inefficiency.
So in this post, we will be looking at a few new technologies that are making waves in supply chain management and giving you some tips on how they can be used.
The Internet of Things (IoT) refers to the network of physical devices connected to the Internet, enabling them to collect and exchange data and interact with each other to automate and optimise various processes.
In private life, this could range from a refrigerator that reports problems cooling food to a car that can send service data back to its manufacturer.
When used in supply chain management, IoT enables organisations to monitor equipment, inventory, and energy use in real-time and organisations can gain greater awareness of energy waste, overstocking, and other missteps.
In the supply chain, IoT devices can monitor and track products, shipments, and equipment with the data being used to optimise inventory management, improve asset utilisation, and enhance logistics operations by providing insights into factors like temperature, humidity, location, and condition of goods.
By using IoT companies can ensure that their operations are only using energy and moving stock when they absolutely need to, meaning that the whole concern becomes much more efficient and green.
Blockchain is a decentralised and transparent digital ledger technology that securely records and verifies transactions, providing an immutable and tamper-proof record of data across multiple participants in a network.
Blockchain is revolutionising supply chains by enhancing transparency, traceability, and security. It enables the creation of fixed and decentralised ledgers, which can track and verify every transaction or movement of goods within a supply chain.
This technology reduces fraud, counterfeiting, and delays, while also enabling efficient management of inventory, smart contracts, and automated payments.
Artificial Intelligence (AI) refers to the development of computer systems capable of performing tasks that typically require human intelligence, such as learning, problem-solving, and decision-making, through the analysis of large amounts of data.
AI and ML technologies are transforming supply chains by analysing vast amounts of data and providing valuable insights for decision-making.
They can predict demand, optimise routing and scheduling, automate quality control processes, detect anomalies and fraud, and enable predictive maintenance.
AI and ML algorithms help businesses improve their supply chain operations, reduce costs, and improve overall efficiency and can be used to identify methods of reducing environmental impact.
Robotics and automation technologies are streamlining supply chain processes, particularly in areas like warehousing, order fulfilment, and distribution.
Autonomous robots can perform repetitive tasks with speed and precision, reducing human error and increasing efficiency.
Automated systems, such as conveyor belts, sorters, and robotic arms, enable faster and more accurate picking, packing, and shipping of products, leading to improved productivity and customer satisfaction.
Indeed, many global companies are now building warehouses and distribution depots that have few of the normal facilities required for human operation as almost the entire plant is automated meaning that it doesn’t need to be heated or cooled and doesn’t have thousands of workers driving to work each day.
AR can provide real-time information and guidance to warehouse workers, allowing them to locate items more quickly and accurately.
VR simulations can be used for training purposes, helping employees learn complex procedures or experience virtual walkthroughs of distribution centres without either being at a central training depot or producing waste through training production.
VR visits can also be made by service engineers to automated plant and robotic machinery to both check on the condition and diagnose any issues that may need a real-life visit later.
These technologies improve worker efficiency, reduce errors, and enhance overall operational performance.
Advanced materials, such as nanomaterials, composites, and smart materials, are transforming the supply chain by offering superior properties, durability, and functionality.
These materials can be lighter, stronger, and more resistant to wear and tear, allowing for the design and production of more efficient and sustainable products.
For example, lightweight composites are being used in the aerospace industry to reduce fuel consumption, while nanomaterials are enhancing the performance of batteries and energy storage systems.
By incorporating advanced materials into the supply chain, businesses can create products that are more durable, cost-effective, and environmentally friendly.
It's worth noting that the rapid advancement of these technologies often leads to their combined implementation, creating even more impactful innovations in the supply chain.
Improved digital tools, such as a smarter Warehouse Management Systems (WMS), make it possible to increase supply chain efficiency and automate processes—from stock reordering to optimising warehouse picking paths.
IoT enabled machinery can report its condition to a central service engineer who can carry out a VR service call to examine any faults and only make a service visit when absolutely necessary thus reducing transport impact.
And blockchain-based inventory management combined with AI cuts down waste from fraud and ensures that inventory is only held where absolutely necessary.
Adopting and combining new technology means that companies can enhance their green credentials and make a positive difference to their bottom line.
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