With all the technology available in the supply chain industry today, digital transformation is inevitable. Many organizations are using a mix of technologies to allow further accessibility, flexibility, agility, and collaboration in their operations. RFID, cloud data storage, and analytics tools are becoming increasingly popular in helping organizations achieve this digital image.
Supply chain is having an increasing impact on the success of organizations. As this occurs, we also see an increase in those adopting a digital supply chain. In this study, 70% of executives from some of the largest global businesses said they have started a digital supply chain effort. New tech is helping companies gain new insights into their supply chain and automate mundane tasks. This digital shift is creating operations that are far more efficient than anything we’ve seen in the past.
Some of the technology making the biggest waves in this industry include RFID, cloud data storage, and analytics tools. Supply chain professionals are always looking to further the visibility they have in their supply chains. This technology is also helping to push the limits in terms of visibility. You can now track item location in real-time, access inventory information anywhere at anytime, and quickly pull up an in-depth analysis of your supply chain.
RFID Technology
Radio-frequency identification (RFID) is a type of item tagging that uses electromagnetic waves to read item info. Because of the design, they can hold more data than generic barcodes. In many cases, you can also edit the information on the tag. This allows tags to easily be reused or modified. When a pallet of RFID tagged items enters a supply chain location, one quick scan can gather information from all the items on the pallet. It can also automatically update all of this in your inventory system. RFID technology is a simple way to achieve real-time item tracking.
Cloud Data Storage
Storing data in the cloud gives you access to it wherever and whenever. Quickly view inventory levels, place orders, or be notified when shipments are sent or delivered. Many software companies offer mobile apps that allow supply chain transactions to be completed on the go. Whether you are in the office, on the road, or in the warehouse, you can access data.Implementing a cloud-based software system removes geographical limitations and restrictions of a locally installed system.
Analytics Tools
Analytics is the process of taking raw data and turning it into actionable information. Through the use of analytics, organizations are able to gain a more in-depth understanding of their supply chains. Many software systems on the market today are able to automate the analytics process to produce custom reports for organizations. This gives companies a way to quickly make informed decisions through the use of technology. Decisions that could have taken weeks – or even months – to make in the past, are now being made within the business day. Having this capability is creating much more agile and responsive supply chains.
With the benefits digitization provides, it is no wonder technology implementation is becoming increasingly popular among supply chain organizations. Detailed item tracking, limitless system access, and automatic analysis are things supply chain professionals could only dream of just a few short years ago. It quickly became a reality and has begun to reshape the supply chain industry as we know it. It is only a matter of time until a digital supply chain becomes a requirement to remain competitive and successful.
