Supply Chain Management In 2017 – 6 Emerging Trends
Every field always changes and evolves over time and supply chain management is no exception. In some ways, supply chain management changes even more frequently than other industries, since technology is the backbone to profits and progress in this industry. If your company falls behind, you’ll become less competitive in what is a quite competitive industry. As we let go of what was working last year and move on to what will take us into the future, here are the trends in supply chain management to watch out for in 2017.
1. Changing Functional Silos
There’s plenty of evidence that functional silos, despite once being integral to this industry, are becoming unwieldy and unnecessary in a more advanced technological era. Look out for silos being broken down in order to advance efficiency.
2. Innovative New Approaches To E-Retail
Every year since the new millennium has witnessed a growth in online commerce and 2016 was no exception. In fact, the jump was quite extraordinary, with online shopping moving from almost 10% to nearly 30% of total retail sales. Because of this, the supply chain industry must come up with new ways to move products from warehouses directly to consumers. There will soon come a time where the bulk of what we do isn’t moving items from warehouse to storefront, but from warehouse to home.
3. Adapting To Unpredictable Climate
The climate change debate is its own animal and a conversation that could make up thousands of its own articles. However, no matter where you stand, weather has become measurably more unpredictable within the last decade. Because of this, supply chain management needs to be ready for unpredictable weather, no matter what the season.
4. More Interaction With CFOs
A common gripe amongst those in this industry is that CFOs and other top executives fail to invest their time and make supply chain management a priority. To harken back to the rise of online commerce, now more than ever do senior executives need to be involved in their supply chain departments. Expect to see them participating more.
5. More Digitalization, Or, “The Internet Of Things”
Everyone in this industry understands how digital retail is changing how we do business. However, the evolution of business technology also affects how we store data and how our machinery operates. Expect to see a change to date and a change to the speed and efficiency of your operation.
6. More Accuracy In Supply Chain Management Analytics”
Accurate inventory data can be the difference between a productive month and a month that ends in a team meeting. Again, the trends of 2017 all center around our rapidly advancing technology. Expect to see more accurate data and analytics..
Supply chain management is evolving now more than it ever has at any point in history. It’s an exciting time to be working in this industry. Our technological advancements might be confusing at first, but they’re going to greatly improve our speed, efficiency and overall quality.