New technology is a driving force and is causing a seismic shift in supply chain management and logistics.
In a 2018 Forbes Insights survey, 65% of business executives across major industries named technological advances one of the four areas transforming supply chain, transportation and logistics operations. Rapid developments in technologies such as AI, blockchain, drones and driverless vehicles are creating a dramatic shift in how goods are tracked and moved.
According to a 2018 report from Accenture, the modern supply chain is “smart, connected, living and agile, with the customer at the heart of everything it does.” Also, it’s “the key to competitive advantage in the digital age.”
If your business relies on outdated processes for supply chain management, don’t wait any longer to change. Does your inventory and supply chain already live in the cloud? If not, are you ready to make the leap?
The Benefits of the Cloud in Supply Chain Management
In the past, one of the biggest challenges of supply chain management was keeping track of data from various vendors and customers. Each one of your business partners might have its own separate pen-and-paper system for storing information. However, communication among these systems could be clunky, slow and unclear.
Supply chain management is moving entirely to cloud-based systems that allow stakeholders to communicate their real-time data. The cloud allows you to share information and collaborate easily. Essentially, this creates an interconnected ecosystem that serves customers more effectively.
How a 3PL Partner Can Bring Your Business Up to Speed
It can be difficult for smaller companies to stay up to date with the tech developments within supply chain. This is why it often makes sense to partner with a 3PL provider. After all, you have a business to run! By outsourcing logistics and supply chain management to a 3PL partner, you gain access to their expertise, resources and processes.
“A key reason for moving to the cloud is to improve the customer experience,” said VP of Account Management Danny Farne. “We want to maintain a competitive advantage. This means embracing emerging technologies that meet our clients’ requirements faster and more economically from dock to door.”
For example, over the last several years, Exegistics has worked with a Fortune 50 manufacturing company to improve quality control and forecasting for warehoused inventory. We implemented cloud-based systems to allow the manufacturer to track inventory at all times. This inventory visibility has been crucial in increasing efficiencies and controlling shipping and warehousing costs.
Learn more about the 3PL services Exegistics provides.