Sustainability is knocking at the door of each logistics company, resilience is becoming a strategic requirement, digital technology transforming supply chain, software solutions for end-to-end visibility leading to faster decision-making and quicker return of investments. Does this year shine for the logisticians brighter than before?
It was not just quite windy in the supply chain region, but it was shaken by some heavy storms. Have you felt them? Transformation tornado hit the logistics and reshaped its trends and goals for the challenges to come. But despite some concussions over 2022, the great news is you are now walking toward the direction of optimism and opportunity, which is forecasted to be pretty sunny.
So, what key trends and forces will be shaping supply chains during 2023?
1. Sustainability will be infiltrated into every stage of planning. Supply chain planners will have to reconsider their strategy and transform data-driven decisions due to increased sustainability KPIs. Nowadays logistics reality will be the businesses with embedded sustainability into every link of the supply chain – from energy sourcing to the production, storage, delivery, and disposal of materials, and everything in between.
2. Resilience will become a strategic requirement and a key to providing a tangible ROI (return of investments). With disruption and volatility set to continue into 2023, businesses will need to systematically stress-test their supply chains to ensure they are resilient enough to handle whatever is thrown at them. This will not only help limit the impacts of the inevitable disruptions ahead but will also empower supply chain leaders to make more confident decisions faster, helping to drive further ROI. Accordingly, companies will rush to efficient, AI-based ways to analyze the impact of natural disasters on the Supply Chain, so they could react appropriately in any circumstances.
3. Supply chain transformations will go to full speed and happen faster than ever before. Intensity and frequency of consumer demands will push supply chains to change and evolve at a faster rate. Therefore, we will see modern digital technologies continue to accelerate supply chain transformation initiatives, helping businesses to keep pace in a rapidly changing world with seamless, end-to-end supply chain planning. Actionable insights into every aspect of your supply chain can make the difference between sinking and swimming. The game for winning the ability to know your opportunities and weaknesses is the golden one, and the trophy for achieving this goes to software solutions that provide end-to-end visibility across the entire value network of suppliers, partners, and customers.
4. Choice between speed and accuracy is no longer an option. Connecting these two benefits into one huge progression injection is the “now and tomorrow” of the logistics industry. On the agenda of every supply chain planner multiple advanced analytical approaches should be a must for making super-fast and accurate decision. AI automatically detects and fuses the best combination of optimization, and machine learning to provide highly accurate answers at unprecedented speed.
5. Digital supply chains will be people’s empowerment, not their replacement. Upgrading your business with AI will go along with digital process automation to complement and enhance the skills of employees, pushing them away from exhausting manual tasks and pointing straight to more value-adding activities.
6. Businesses will need the agility to manage sudden swings in supply and demand. For retailers, previously in-demand supply will begin to finally arrive in stock after lengthy delays, but the demand will no longer exist. This will lead to excess inventory in many cases, highlighting the need for fast and accurate decision-making.
7. Supply chain technology will combine execution and planning to enable quicker ROI. Companies will continue to make great strides in aligning their supply chain management and planning. The latest innovations in AI and machine learning will empower them to act with speed and agility to maximize ROI.
Greater decision-making concentrated on data, and more sustainable goals will be more effectively and easily achievable is you have them integrated in one solution. And your fast reaction and adoption to those solutions is a checkmate move to embrace the future, where you will take the lead.