Recent developments have highlighted weaknesses in supply chains, but they also open doors to exciting innovations. As we look to the future, aligning people, processes, and technology will be key to integrating new supply chain tech smoothly.
Here are eight major trends that could shape supply chains in 2024:
1. Cyber Extortion: Bad actors are increasingly targeting supply chains, recognizing them as potential weak spots. In 2024, expect more ransomware threats where attackers demand payments to release hijacked data. It’s a tough situation, but staying prepared with strong security measures and response plans can help companies handle these challenges.
Related: Security and Commercial Contractors: Worried about cybersecurity? You’re not alone.
2. Enhanced Data Governance: With the rise of advanced analytics and AI, supply chains are getting smarter. But this means companies must focus more on managing and protecting their data. Keeping data clean and well-organized is essential for making good decisions and keeping operations smooth.
3. Sustainable Practices: Sustainability isn’t just good ethics—it’s becoming a business necessity. Driven by new laws and consumer demands, companies are working towards greener, more sustainable supply chains. It’s all about thinking long-term and making environmentally friendly choices.
4. AI-Enabled Vision Systems: AI is transforming how we work, and one cool development is in vision systems. These tools use 3D cameras and AI to understand images and make decisions in real time. This tech could revolutionize how we track and manage inventory.
5. Augmented Connected Workforce: Technology isn’t just about gadgets; it’s also about empowering people. New tools help workers get up to speed faster and make better decisions, which is great for productivity.
Related: How to use AI to tackle the skilled labor gap and scale faster
6. Composite AI: Imagine combining different AI technologies to solve problems more efficiently. This approach can lead to smarter, more adaptive supply chain solutions.
7. Next-Gen Robots: Robots in supply chains are nothing new, but the next generation is on another level. These robots are more agile and can work alongside humans more effectively, helping to speed up operations and reduce errors.
8. Machine Customers: The future is here with machines making purchases and even negotiating deals. This technology could automate ordering processes and streamline supply chain management.
These trends suggest that technology will play a massive role in shaping the future of supply chains. It’s an exciting time with lots of changes on the horizon.