The advent of E-commerce has stressed on maintaining a hassle-free Supply Chain and achieving consumer satisfaction. Despite huge investment Supply Chains have not been able to curb mishandling, forgery, delays in delivery, wastage and many other problems. Technology can help to reduce these problems drastically. New technologies like blockchain, artificial intelligence, internet of things, cloud computing can help to improve the logistics of these companies. Technology can help in providing better customer satisfaction by ensuring on-time delivery and authentic products, as it can track the entire life cycle of a product.
Written below are the technologies that can help in achieving these goals:
In supply chain it can help in tracking product life cycle, trade finance and settlements.
Internet of Things:
By applying machine learning many issues can be tracked and acted upon. In supply chain it can help in tracking the package to ensure on-time delivery.
Artificial Intelligence does predictive analysis of data to help business organizations in making informed decisions. It also helps to automate repetitive processes. In Supply Chain AI can help in warehouse management, logistics and supplier relations.
Mixed reality uses both augmented reality and virtual reality. With it managers can track and manage multiple locations at the same time using IoT. In Supply Chain it can help in storing products in the warehouse.
Robots have been used in manufacturing industries to do repetitive tasks. They can complete a task with precision and within a specified time frame. They can help in moving products from one place to another in the inventory.
Combination of these technologies can help in lowering the risk for Supply Chains. It can Improve transparency and help in customer satisfaction.