How to Overcome Supply Chain Issues with Advanced Technologies

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There’s nothing quite like a supply chain issue to bring a business to its knees.

KFC proved it recently in the UK. Switching to a new supplier left them with a disrupted supply chain, a shortage of food, and lost revenue. But why do things like this still happen in 2018, with so much new technology available?

Below, we’re taking a look at how business can overcome supply chain issues with advanced technology.

Predictive Logistics

The Problem

If any of us are psychic, it’s a vanishing few. That’s why supply chains are at the mercy of our prediction models. That leads to excessive wastage or missed revenue opportunities.

The Solution

Technology makes predictive logistics easier every day. Companies are gathering and analyzing data like never before. That data can predict spending patterns, supply and demand, and even future changes in the market.

Tools for analyzing so-called Big Data are some of the most sophisticated in the tech industry. They’re in demand for everything from supply chain to politics.

Process Automation

The Problem

No matter how efficient your supply chain, it has an inbuilt weakness if it relies on people pressing buttons. Human error can disrupt a supply chain in seconds.

The Solution

An automated supply chain management system takes the uncertainty out of the supply chain. Supply chain logistics offer the perfect environment for process automation, as they’re simple logical chains with the primary variable being the hard facts of supply and demand.

Process automation frees up staff for roles that benefit from human intuition. That means you’re making more effective use of your human resources, filling in the gaps that even advanced technology can’t fill just yet.

Inventory Management

The Problem

Counting stock is a tedious job. Manual counts are subject to miscounts and lost goods. In turn, mistakes lead to over- and under-ordering, leading to additional ordering costs and wasted inventory space.

The Solution

Automated inventory and stock management systems take the margin for error out of the stockroom. Computers can handle tracking, deducting, and reordering of stock to keep the supply chain flowing coherently.

Technologies like RFID can track inventory without the need for extensive human input. They can sync with computer systems to maintain programmed stock levels.

Shipping and Tracking

The Problem

Once a shipment is out of your hands, it might as well be invisible. There’s no telling if your package will ever make it to your customer. In an age of instant information, that leaves customers in the dark.

The Solution

Advanced tracking solutions like GPS can reduce the risk of consignment loss. They can also improve the customer experience by providing live information on the status of their shipment.

This is increasingly important in a world of same-day deliveries. Companies are under intense pressure to deliver the consignment within tight delivery windows while maintaining customer contact along the way. If an issue occurs, customers expect swift responses to their missing delivery.

Erasing Supply Chain Issues

Supply chains represent an excellent chance for technology to change the game. By deploying advanced technology and doing it well, companies can bring never-before-seen levels of efficiency to their supply chain.

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