Technology has been increasingly becoming the key to company’s success, innovation, and competitive edge in today’s digital era. Many organisations are now investing more in technological development to support their businesses. Likewise, technology offers a solution for improved accuracy and increased revenue. Companies that are fully-integrated with automation are outpacing non-integrated companies by 20 percent in revenue-generation. Retail inventories also become more accurate (63 percent) by using technology to support their trading.
To make your company more competitive, use these 6 top-notch technologies that can improve your supply chain management.
Automated delivery – In 2016, Uber’s autonomous trucking brand, Otto, made its first delivery – a shipment of 50,000 cans of beer between Fort Collins and Colorado Springs. The incorporation of robots and autonomous vehicles is creating transformational business opportunities and reducing costs as these machines assist, as well as re-deploying jobs of employees in more value-adding activities. Using Transportation Management System (TMS) to manage your transportation and freight can decrease costly errors, increase customer service, access a real time freight data and analysis, and ease your organisational control. TMS also makes your delivery more scalability and speed.
Robotic picking – If you have a large order in a limited time, this can be your advantage. Robotic process automation (RPA) allows supply chain leaders to cut costs, eliminate keying errors, speed up processes and link applications. Robots are also able to pick up products from high shelves or floor-locations without the fear of any fatal injury. They enable warehouse operators to switch from manual to automated distribution centres. Big company like Alibaba has ramped up their robotic labor in one warehouse to reduce human workforce by 70 percent.
Robotic tracking – Wealthy companies such as Amazon and BJC HealthCare already use this advanced technology in their supply chain. Radio-frequency identification (RFID) can improve your inventory accuracy by 95 percent or even more in optimising operations, reducing mistakes, and therefore maximising profits and enhancing customer experience.
Artificial intelligence – A well-known human robot like, artificial intelligence (AI), has helped many industry sectors including supply chain. AI can help supply chain find patterns and generate prediction, combining its data with advanced abilities for forecasting to enhance decision making effectiveness, update business models, and improve customer experience. Using this robotic human can advance your supply chain and give new experience to both employees and customers.
Cloud storage – Many people think that cloud storage is risky to use for saving data, but the risk of compromise for on-site data is 24 percent higher than people think. A recent study from Clutch added that 64 percent of enterprises considers cloud storage as a more secure alternative to legacy system. It is considered as the most efficient and secure way to store data as it is monitored at all times, multifaceted, and ensures that security systems remain up-to-date on an ongoing basis.
Immerse technology – Virtual reality (VR) and augmented reality (AR) are two examples immersive technologies that logistics companies use to enhance employee and customer digital experiences. These technologies create opportunity for enhanced repair and maintenance capabilities in manufacturing, logistics, and warehousing. They also leverage product visualisation or store layout and orderly offer better purchasing choices for customers.
Read also: 5 Extraordinary Ways to Optimise an End-to-End Supply Chain