As electronics OEMs grapple with the task of staying ahead of the competition in a fast-paced business environment, the supply chain has become the front upon which many of the battles are fought. By choosing the right technologies to support supply chain business processes, manufacturers are gaining strategic advantage.
Technology innovation allows organization to streamline the supply chain, increase agility and visibility, control inventory more efficiently, and reduce inventory costs. In the end, all of these increase customer satisfaction and boost brand loyalty.
The reality of resource limitations, though, mean that, to win, electronics OEMs need to invest in the most helpful technologies, picking and choosing the ones that offer the best business advantage. That’s a challenging task in a marketplace that is increasingly rife with choices.
Many organizations, of course, start with supply chain management platforms. The supply chain management (SCM) market will exceed $13 billion in total software revenue by the end of 2017, up 11% from 2016, according to recent research by Gartner. By 2021, the research firm predicts that it will exceed $19 billion. “Between 2017 and 2021, Gartner forecasts nearly $6 billion in total software revenue will be added to the SCM market,” said Chad Eschinger, managing vice president at Gartner. “Digitalization is increasing demand for agility and forcing new business models, which is boosting spending in the SCM market.”
Increasingly, though, the list of technology enhancement has grown beyond just supply chain management software. Organizations need to be concerned with how to get helpful information into the supply chain. Artificial intelligence (AI), which supports the delivery of timely and accurate information, tops the list of promising technology areas for the supply chain. They include:
- Big data
- Internet of things
- Autonomous vessels
Click on the image below to start a slideshow, with images created by Vero Solutions, of how these technologies are likely to enhance the supply chain.
— Hailey Lynne McKeefry, Editor in Chief, EBN