Supply Chain Management: Game-changing Innovations
The rampant technology advancement led to breakthrough innovation and digital disruption in the Supply Chain industry and as technology improves, customer preferences adapt to the changes. The ever-increasing purchasing power and behavior of customers prompted the birth of e-commerce. Since then, traditional brick and mortar retailers and companies leverage their efforts to coping up with the massive transformation that retail supply chain is going through. Cloud computing, AI & Robotics, Conversational Systems and Blockchain are the few essential game changers that will lead to expansive digitizing of software solutions.
The role of social media will also be another platform that will definitely increase the effectivity of Supply Chain Management this year. Today, where we post even the smallest detail about our purchase, it is only natural for supply chain managers or producers to run through social media platforms to know what consumers think of their product or service or how they are wired to think as consumers.
According to International Data Corporation (IDC), there will be a mass-scale adoption of the use of cloud in storing, managing and processing of data through the internet. Their prediction is that by the year 2020, approximately four-fifths of supply chain interactions will happen within cloud-based networks. The next generation software solutions for making real-time data into profitable business decisions offers a cognitive, connected and open platform that has the power of the cloud and ingenious innovation such as SaaS, Internet of Things, Artificial Intelligence and advanced analytics that drive a more agile supply chain transformation that will certainly yield greater results.
Blockchain changed the game of inventory management. It deliberately surfaced as a tool that enlists unalterable records that contain data on the movement of goods that is necessary to avoid slowdowns or damage of goods. Moreover, it is to avoid miscommunication between wholesaler and distributor. Blocks are what the list of records are called, they provide transparency and accessibility of a database of goods in circulation, as well as the state of goods and delivery. Blockchain is basically all about transparency, efficient tracking and security.
Generally related to the features and tasks VPAs(virtual personal assistant) or chatbots can perform, conversational systems took the interaction to a whole new level. The bots can now assist and compete transactions, handle payments, arrange delivery process and basically provide excellent customer service.
Robotic automation and AI
The uprising of robotics and high technology machine-operated devices happened and since then the supply chain industry is disrupted. Artificial intelligence will be used for automation and to augment decision making that should aid the optimization of the level of near-perfect planning and the continuous improvement of the virtual aspect of information. The downside of the gradual switch to automation is that the demand for labor will decrease.
This year, there has been numerous meaningful progress on the digital transformation of supply chain management. Integrating tasks performed in the physical supply chain were tedious until the emergence of today’s innovations wherein a system may have several necessary software customizations that make work easier and more efficient. The more digitized a company is, the greater the visibility and transparency they have of the business processes and opportunities. In a nutshell, digital supply chain mends communication gap between supplier-manufacturer, retailer-consumer and saves time and resources.
Companies find the switch to digital technology complicated to flip on.
Genie Technologies Inc. is the Gold Partner and 2016-2017 JDA Partner of the Year for Asia and the Pacific. Over the years, the company has established itself as the leading retail management software solution provider for retail customers in the Philippines and Indonesia. It has provided impressive end-to-end Retail and Financial solutions to a growing list of highly satisfied clientele with its proven expertise across Retail, Supply Chain and Financial verticals and categories. It ensures the provision of a comprehensive, fully integrated, industry-proven business solution to maximize its clients’ business growth, proven by the successful implementation of several projects, not just in the retail industry, but in various industries as well.
GenieTech’s clients for supply chain solutions are Wilcon, South Supermarket, Gaisano Main, Fisher Mall, Super8 Quality Appliances, Inc., Prince Retail, CitiStores, Alaska, Nestle and more.