3PLS OFFER SHIPPERS OPTIMIZED SOLUTIONS TO NATIONWIDE CAPACITY CRUNCH

Warehousing and Distribution

Article | July 17, 2023

Leveraging technology and resources within a network is key to supply chain optimization. While supply chains are inherently complex, this complexity can lead to significant technological benefits. Contents 1 Overview and Importance of Emerging Technologies in Optimizing Supply Chain 2 Advantages of Incorporating Emerging Technologies in Enhancing Optimization 2.1 Autonomous Delivery 2.2 Cognitive Automation 2.3 Blockchain-enabled Traceability 2.4 Predictive Maintenance 3 Key Challenges in Adopting Emerging Technologies 3.1 Cost and Budget Constraints 3.2 Skills Gap in Talent 3.3 Privacy and Data Security Concerns 4 Overcoming Challenges 4.1 Adopting Technologies for Managing Budget and Cost 4.2 Developing Talent Pipeline 4.3 Implementing a Zero Trust Security Model 5 Future Outlook Supply chain optimization involves maximizing the utilization of technology and resources within a supply network. Although supply chains are inherently complex, this complexity can yield significant technological advantages, particularly when leveraging the combination of blockchain, artificial intelligence (AI), and Internet of Things (IoT) technologies. 1 Overview and Importance of Emerging Technologies in Optimizing Supply Chain Emerging technologies have transformed the supply chain industry and revolutionized business operations. AI, IoT, blockchain, and robotics are getting prominence with the ability to streamline supply chain processes, reduce costs, increase efficiency, and ultimately boost customer satisfaction. Implementing these technologies can give businesses real-time supply chain visibility, reducing waste and enhancing inventory management. Understanding the potential benefits of these emerging digital supply chain technologies and how they can be implemented within the supply chain is essential for any business that intends to stay in a competitive and rapidly evolving market. 2 Advantages of Incorporating Emerging Technologies in Enhancing Optimization Blending operations with emerging supply chain technologies can significantly improve the speed and accuracy of information flow, minimize manual intervention, and reduce lead times. Additionally, these technologies can provide enhanced visibility into supply chain operations, enable effective risk management, and facilitate proactive decision-making. 2.1 Autonomous Delivery Incorporating autonomous delivery that comes with self-driving vehicles benefits businesses beyond faster delivery times, lowers costs and reduces human error. It offers increased safety, greater flexibility, and improved resource management. It benefits industries like e-commerce and logistics, where quick and efficient delivery is crucial. 2.2 Cognitive Automation Businesses face significant challenges due to unpredictable fluctuations in supply and demand, which can strain their existing technology. To mitigate these risks, executives have increased their investments in risk management. Cognitive automation offers three key benefits in supply chain management: identifying challenges and opportunities, gathering demand signals, and utilizing data for decision-making. Cognitive automation makes balancing supply and demands more efficient and effective, allowing businesses to act faster. 2.3 Blockchain-enabled Traceability Blockchain technology, a distributed ledger system, enables secure, transparent, and traceable record-keeping across a supply chain network. By providing a tamper-proof record of product movement and quality, blockchain technology can enable businesses to verify the authenticity and integrity of their products at each stage of the supply chain. In addition, blockchain technology allows businesses to quickly trace product origins and identify affected batches during recalls. 2.4 Predictive Maintenance Predictive maintenance is a technology that uses machine learning algorithms and Internet of Things sensors to predict impending equipment failures. By analyzing equipment performance data, predictive analytics enables businesses to reduce equipment downtime, lower maintenance costs, and increase reliability. With predictive maintenance, businesses can transition from reactive to proactive maintenance, preventing equipment failures and extending equipment lifecycles. 3 3 Key Challenges in Adopting Emerging Technologies 3.1 Cost and Budget Constraints The executives in the supply chain industry face a significant challenge when adopting emerging supply chain technologies due to the associated costs and budget constraints. While these smart supply chain technologies offer long-term benefits, the upfront investment can deter businesses. Businesses need to consider the total cost of ownership, including implementation, training, ongoing maintenance costs, and the potential return on investment. 3.2 Skills Gap in Talent Incorporating emerging technologies and trends in supply chain operations management is a complex and costly investment that demands a highly skilled workforce to implement and operate such supply chain technologies successfully. A significant skills gap while adopting technology in the supply chain industry poses a challenge for businesses in finding and training competent personnel with technical, analytical, and business skills required to handle emerging technologies. 3.3 Privacy and Data Security Concerns As supply chain operations adopt cutting-edge technologies, companies must address privacy and data security issues. The use of technology requires the collection and dissemination of sensitive data across multiple parties, which raises security and privacy concerns that can be exploited by cybercriminals or unauthorized personnel. Failure to adequately address these issues may result in reputational harm, legal and financial penalties, and a loss of customer confidence. 4 Overcoming the Challenges 4.1 Adopting Technologies for Managing Budget and Cost To overcome the challenge of budget and cost constraints in adopting technology in the supply chain, businesses can leverage innovative tools, such as cost management software and advanced analytics tools, which can provide real-time visibility into cost drivers and enable better decision-making to optimize resource utilization. With the top three technologies in supply chain such as AI, IoT and blockchain, businesses can reduce costs, boost supply chain performance, and maintain market competitiveness. AI predicts demand, maximizes inventory and improves transportation; RPA automates manual tasks, reduces labor costs, and cloud computing provides a flexible and scalable IT infrastructure with reduced upfront investments. 4.2 Developing Talent Pipeline Businesses must invest in building a talent pipeline to ensure a steady supply of skilled employees to narrow the skills gap in the supply chain industry. Collaboration with educational institutions, in-house training programs, and managed service providers from the technology industry can all be part of the answer. The organization's competitiveness and success can be increased by creating a talent pipeline to fill the skills gap between the current workforce and the needs of emerging technologies. Businesses can keep their workforce current and ready to adopt new technologies in supply chain by investing in a talent pipeline. 4.3 Implementing a Zero Trust Security Model As businesses adopt emerging technologies for supply chain operations, privacy, and data security, concerns have become a formidable obstacle. The implementation of a zero-trust security model can aid in addressing this difficulty. Before gaining access to any data or system, all users and devices in this model must be authenticated as potential threats, per this model. This strategy protects data and systems from unauthorized access and enables businesses to comply with regulations such as the GDPR and CCPA. In addition, it can provide supply chain visibility and control over data access in real-time, making it more effortless to detect and respond to security threats. 5 Future Outlook Supply chain leaders view emerging supply chain technology as a competitive advantage and as a means to address digital transformation. In addition, there is a focus on supply chain technologies that improve human decision-making and manage assets at the edge. Organizations should unify their technology portfolio and update legacy systems for greater efficiency. As supply chain complexity increases, we can expect even more advanced technology solutions leveraging big data, machine learning, and robotics to create agile, flexible, and sustainable supply chains.

Transportation

Article | April 26, 2023

Warehouse logistics is the heart of any supply chain operation, assimilating and dispatching goods to ensure availability and timely delivery. With more consumers turning to e-commerce, it’s important for businesses of all sizes to bolster the supply chain to handle the e-commerce business model. According to research conducted by BigCommerce, the top three factors that influence consumers’ online purchasing decisions are convenience, cost and free shipping. In fact, the National Retail Federation (NRF) found that 75% of consumers expect delivery to be free even for orders under $50.

Warehousing and Distribution

Article | June 27, 2023

Over the past decade, transportation and logistics have witnessed an immense transformation, from using automotive vehicles to drones and paper tags to advanced geotags. Also, the introduction of novel technologies and incorporation of innovative solutions such as artificial intelligence and blockchain has further reshaped the sector. How is Rising Complexity Triggering the Adoption of Novel Technologies? Today's supply chain is, in a word, complex. It has so many complexities, from ever-rising consumer expectations and disruptive events to globalized sourcing and omnichannel demand, that it is now being compared to a modern-day Gordian knot. With complexity comes ambiguity, particularly in the transportation and logistics industry. For instance, importers are expected to find cost-effective and efficient ways to transport goods from manufacturing facilities, which are frequently located halfway around the world, to distribution centers and then, ultimately, into the hands of consumers. In addition, e-commerce has further added to the complexity by introducing new channels into the jumble along with the introduction of same-day or next-day delivery standards with higher transparency and tracking features by leading players such as eBay, Walmart, and Amazon Here are a few prominent technologies assisting logistics companies to counter these complexities. Data Analytics Big data analytics aids in the more accurate and efficient planning of operational processes, services, and strategies, allowing businesses to align with emerging consumer needs. Artificial Intelligence (AI) and Machine Learning AI and Machine Learning have become the most sought-after tech in the transportation food chain. It assists businesses in enhancing operational functionality, boosting productivity and speed, designing optimal transit networks and routes, and improving safety through predictive risk calculation and elimination. The Internet of Things (IoT) With the rising need for transparency and tracking of shipped goods, IoT is garnering immense popularity across the transportation and logistics sector. It enables businesses to monitor and track their goods in real-time with the help of geo-tagging, RFID tags, and GPS, resulting in fewer delays in deliveries.

Article | April 17, 2020

Supply chain peak season technology aids supply chain leaders in understanding their operations, unlocking insights, reviewing performance, and much more. In conjunction with the rise of e-commerce and ongoing demand for more products, faster service, and better supply chain performance, the entire year begins to take on the characteristics of supply chain peak season which traditionally has occurred during the time period after Labor Day through returns season in January.