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The future Supply Chain & Logistics

Technologies of the future

Digital business is changing business models – and how we conduct business. It is both connecting and blurring the lines between the digital and physical worlds. It is changing how businesses communicate, transact and interact with customers, suppliers and partners. And it is accelerating the pace of business, in a world already operating 24/7.

The potential through digitalization of the Logistics industry  approximately 15 trillion USD by the year 2022. It gives to raise - up to 30 percent lower operational costs and a reduction of 75 percent in lost sales. Parallel with the increased use of digital tech in the industry, inventories decreases by up to 75 percent are forecasted and at the same time also increasing the agility of the supply chains significantly.74 percent of those who implemented initiatives such as sensor-based logistics saw increases in revenue. In fact, the average supply chain contribution to a company’s bottom line increased from 4 percent to 8.5 percent in only one year, with industry leaders seeing supply chain revenue contributions on the order of 10 percent.

74% of those who implemented initiatives such as sensor-based logistics saw increases in revenue.

Problem

Supply chain leaders are tasked with continually ensuring the quality, delivery and availability of supply – while controlling costs. They must monitor and mitigate an array of potential supply disruptions – including both common events, such as weather, delivery delays and quality defects, as well as major events such as political unrest, natural disasters and the financial instability of suppliers.

They must also safeguard the brand, ensuring suppliers and product components live up to customers’ expectations and social values. Today’s expectations are that inbound supply needs to be just as focused on customer experience, personalization and client delivery as the outbound side of the equation. And in an era where innovation can mean the difference between success and stagnation, supply chain leaders are increasingly being called upon to collaborate with suppliers to foster greater efficiency and innovation.

Lack of visibility and transparency is the greatest hurdle in achieving the supply chain organization’s objectives Most organizations lack transparency into critical links in supply chain processes – as well as the visibility needed to better predict and prevent disruptions and inventory imbalance. This largely stems from an inability to corral and make sense of an overwhelming amount of data scattered across different processes, sources and systems. Due to necessity to collaborate with suppliers these complexities exponentially grow. Inventory management, issue identification, errors and frauds bottleneck the efficiency of the supply chain and increase in the overall courier costs.

Solution

What supply chain leaders need is a common ground interconnecting suppliers and the information they accumulate. By establishing greater visibility into supply chain data and processes and leveraging cognitive technologies, supply chain organizations can both predict and mitigate disruptions and risks and deliver more value to the business.

Weeve’s platform offers two powerful technologies - IoT and Blockchain - to create a modern supply chain, thereby delivering the necessity of trust in the provided information and events to reliably digitalize supply chain processes.

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