Technology

7 Technologies That Are Positively Impacting the Supply Chain Industry

Supply Chain
Written by prodigitalweb

Technology has always been a massive part of the supply chain industry. It has allowed players to move goods and products worldwide more efficiently and effectively. However, it’s not been easy for supply chain industry players to decide on the most beneficial technologies for their companies. Whether you’re looking for simpler solutions like CCTV installation or are going for more complex ones like web-hosting services, these top seven supply chain technologies should be able to assist you.

Smart ID Scanning Software

One of the biggest issues companies face is ensuring they are shipping to the right locations and are dealing with the right freight company employees. With smart ID card scanner software, supply chain companies can easily scan and verify the driving license information of the drivers handling their products. This way, you can avert a significant number of fraudulent activities that may occur when goods are in transit. The software is also useful for scanning documents like resident permits, visas, international passports, and other crucial personal verification documents.

Blockchain

The supply chain industry has been using blockchain technology for a while now, but it’s still in its early stages. With blockchain, a distributed digital ledger that records transactions between two parties in a secure, verifiable, and permanent way. This means there is no need for a central authority to approve or oversee the transactions.

Blockchain is also helpful in tracking the movement of goods throughout the supply chain from production to consumption. It can also be used to create digital contracts between parties, which can help to reduce the risk of fraud and corruption.

RFID Tags

RFID tags are small, radio frequency identification devices attached to products, containers, or sometimes on employees as RFID microchips. They store information about the product or container that an RFID reader can read. RFID tags help to improve visibility in the supply chain and can also help to reduce the risk of fraud and theft.

Unlike barcoding tracking systems that must be within line-of-sight to read an item, RFID tags can be read even if hidden from view. This makes them ideal for tracking high-value items or items that are difficult to track, such as pharmaceuticals and chemicals.

Automated Guided Vehicles (AGVs)

Automated guided vehicles are robots that can move products or materials around a facility. They are often used in manufacturing and warehousing operations. AGVs can help to improve productivity and efficiency in the supply chain by reducing the need for manual labor. They can also help reduce the risk of injury and improve safety in the workplace.

Artificial Intelligence (AI)

The demand for Artificial Intelligence in the supply chain industry is on the rise by the day. AI is useful for automating repetitive demand forecasting, route planning, and inventory management in the supply chain. This helps break down more complex and challenging tasks into manageable and automated processes.

AI has equally made it easier for supply chain businesses to keep up with the fast-paced demands from clients and the rivaling competition that never seems to end. If you don’t use AI in your supply chain operations, your competitors will, which could mean the beginning of your business’s fall.

Augmented Reality (AR)

Just when you thought that virtual reality was the next big thing, augmented reality comes in to snatch the crown. Augmented reality has already started making waves in the supply chain industry and is set to take things up a notch.

With AR, businesses can superimpose digital images onto the real world. This can be useful when trying to repair complicated machinery. You no longer have to rely on manuals as the image will be right in front of you, making it easier and faster to get the job done.

AR is also becoming a practical option during the employee onboarding process. Supply chain managers can now easily hold more practical training sessions to better prepare new hires for their roles.

Inventory managers can also tap on the efficiency of AR in managing inventory levels. By having a digital overlay of the warehouse, they can keep track of where everything is and how much is left. This helps with real-time decision-making and long-term planning.

Whichever way you choose to implement supply chain AR technology, there’s no doubt that it will bring positive changes to your business operations.

Cloud Technologies

The cloud has been around for a while now, but its impact on the supply chain industry is only being felt more recently. More supply chain businesses are moving to the cloud to enjoy its many benefits, such as increased flexibility, scalability, and cost-efficiency.

With the help of cloud technologies, businesses can now pay for the resources they use only when they need them, making it a more affordable option. Additionally, supply chain businesses can easily scale their operations up or down as needed without worrying about investing in new hardware or software.

The cloud also allows for real-time collaboration and communication between team members located worldwide. This is especially beneficial for supply chain businesses that operate in multiple time zones.

These are just a few of the many technologies that positively impact the supply chain industry. As the world becomes more digitized, we can expect to see even more innovative solutions that make managing the supply chain easier and more efficient.

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