Supply chain is one of the important sectors which has been impacted in COVID-19 at a greater level. It is seen that recently 72% of the businesses suffer detrimental effects related to pandemic. There are new trends which are coming up. We need to cater to the new needs and requirements as the demand persist.
According to the new leaders in the supply chain industry which are from the leading organizations like EY it seen that last year supply chain management has been shifted towards adopting new business models and supply chain ecosystem. It is addressed that the new supply chain ecosystem has to adopt high degree volatility and disruption. There are many new cases which are seen to have increased by a period of overall digital supply chain technology.
In short term we should expect that the list to include technology like artificial intelligence, machine learning, blockchain and the internet of things. While the main thing to be included is that the global supply chain should include the new standards and horizons. It is seen that in the new emerging environment companies today focus on surviving the after- effects.
According to Gartner’s hype cycle for supply chain 2021 there are list of capabilities like AI and control towers and peak trends to be taken with time. It is to be seen that adding new strategy, implementation and regulation as needed and demanded according the industry standards.
Below stated are some of the top predictions which one should keep in mind for supply chain trends in 2022.
Supply chain as a Service –
The supply chain management is evolving at a place where anything can be offered as a service. Supply chain is acting as an approach which is more renowned and newer to use. It has to deal with various new supply chain options which dealing with the new economy lifestyle.
There are dealing with procurement, product control, manufacturing, quality, logistics.
Nowadays, increase in technology it is seen that the virtual supply chain team is enabled by the cloud software which
Circular economy –
When we deal with supply chain management, we need to know that we there are circular supply chain management which is seen bringing amazing results in the organization.
When we create a supply chain, we always make sure that it is creating brand differentiation. It is important to reward the small suppliers and commit to the sustainability of the goals to make an inclusive economy.
Elastic Supply Chain –
Supply chain is responsive and flexible which can deal with the market fluctuations. It is seen that the customer behavior will expand and contract to meet the demand in a particular time frame.
Greener Management –
Sustainable measures are important and key element which one should focus to build in the new streams. A growing number of customers approach the business to be dedicated to the environmentalism and the companies are trying to address the issues of concerns.
Green supply chain management is one of the concepts which can merge the traditional supply chain process. This can include the product design, material outsourcing, selection, manufacturing and operation. It helps to include the end-to-end structure of the management.
Some key results on which they focus are –
- Measuring what matters to any business in supply chain management.
- Eliminate the impact which is harmful in supply chain management.
- Focus on the sustainable uses in supply chain management.
Traffic Data Exchange is an accounting, analytics and supply chain logistics consultancy serving high-volume freight industry since 2008. It provides customized tailor-based services in big data in global supply chain industry. With the increase in big data in global supply chain management it becomes one of the essential parts in today’s world. Almost 90% of companies need supply chain management to be incorporated in their framework. Traffic Data Exchange fulfills the client’s needs and expectations to bring out effective results. It gives dual advantage by improving the working structure by big data analytics and reducing the overall cost.