After three years of crisis, the data show that supply chain conditions are improving. That will allow supply chain leaders in 2023 to resurrect initiatives that may have been sidelined — including data and digitalization programs and sustainability efforts.
Companies that blend logistics and operations data with location data will find improvements in the efficiency, accuracy, and reliability of their supply chains. Machine learning applied to blended data can identify transportation patterns, such as the likelihood of delays, and apply those to future planning. Understanding how, when, and why supply chain problems occur is important in designing better networks. Tying location data with logistics data yields more accurate and predictive estimated times of arrival (ETAs), which benefits logistics operators, shippers and their customers.
In a volatile supply chain environment, the speed of decision making becomes a key factor in supply chain success. Resiliency in the face of supply chain disruption requires ingesting large volumes of data in real time and being able to analyze that data in near real time to generate predictions that inform supply chain leaders of the implications downstream. Artificial intelligence facilitates the creation of models to make predictions based on the interaction of different data.
Many companies put sustainability issues on hold during the pandemic, but the issue is now coming back to the top of the agendas, allowing them to meet the emissions reduction goals contemplated by the Paris Agreement. The revitalization of sustainability programs will also serve to enhance enterprise efforts to increase supply chain efficiency and customer service. Organizations that don’t have a sustainability focus risk being left behind and becoming non-compliant with government regulations, and suffering lower revenues and higher costs. Integrating enterprise data with location intelligence helps enterprises more efficiently manage their operations and will create huge operational efficiencies for companies in the logistics space.
Reference : https://www.supplychainbrain.com/articles/36898-supply-chain-trends-in-2023