A growing number of industries are recognizing that effective operations aren’t the work of a single business. Rather, the best results tend to come from effective collaboration with supply chain partners. This exposes everyone involved to the benefits that come from specialized expertise.
It’s not the mere existence of these supply chains alone that influences success. Rather, the technologies each industry or collection of businesses chooses to adopt play key roles in establishing the most effective supply networks. Let’s take a look at a selection of industries and the tools they’re adopting to positively influence their chains.
Electronics
The electronics supply chain was in flux at the outset of 2023 due to economic uncertainty from the Russia/Ukraine war, Covid’s lingering menace, and other factors such as raw materials shortages. In the face of ongoing issues, manufacturers are encouraged to digitize their operations as much as possible, maintain backstock of essential components, and establish relationships with multiple suppliers.
There are elements of electronics supply that are out of any one manufacturer’s control, such as natural disasters, or the demand for semiconductors. And according to Avnet’s Rebeca Obregon-Jimenez, the electronics industry is looking toward a combination of regional and international suppliers in an effort to counter supply shortages, which creates more complexity.
To simplify things, manufacturers are using collaborative software to create more visibility, with a view toward product availability. Real-time updates on products enable flexibility — a company can order parts piecemeal, when they’re available from multiple suppliers, instead of ordering a full line from a single source. Simultaneously, supply-chain-as-a-service allows them to outsource the logistical burden, and artificial intelligence enables trend analysis and automated ordering.
Construction
The chain in construction can be complex and dynamic. It often features various and interchangeable stakeholders, including suppliers, architects, contractors, and subcontractors, among others. With all these working collaborators, the industry has focused on tech that boosts agility, efficiency, and productivity.
Primarily, predictive analytics in construction has begun to help businesses throughout the supply chain make more informed decisions. By finding the right software platforms to focus on specific areas of business operations, this tool can collect and review vast quantities of data, generating algorithms that provide insights on likely future outcomes.
This can be particularly helpful for gaining advanced warnings for potential bottlenecks in the chain and identifying which supply partners are most appropriate, among other elements. The more businesses in the chain adopt predictive supply chain analytics software, the greater the ability collaborators have to plan projects and adapt to issues.
Food
Without a smooth and reliable supply chain in place, consumers can find it more difficult to access the balanced nutritional components they need to thrive. In establishing supply networks, the food industry is using tech that supports a smooth line from production to consumers.
The Internet of Things (IoT) is already proving to be useful for businesses in food supply chains. Sensors are now affordable and accessible enough that they can be placed throughout facilities in the chain and even on containers of food products. Devices in the IoT can then receive real-time data on various metrics related to products. This includes the position of items in the production or shipping process and the environmental elements that may impact the safety or condition of the foodstuffs.
From here, cloud platforms enable partners in the supply chain to share and respond to changes in real-time. This isn’t just impactful because it raises a widespread alarm for unexpected issues in the chain which enable partners to make relevant adjustments. It’s also useful in flexible models of supply chain management that support the seasonal nature of niches within the food industry. Businesses throughout the chain in these areas can have accurate insights into activity or production fluctuations so they can ramp up or slow down their resources as needed.
E-Commerce
Where once it was a niche area, consumers are now embracing a combination of in-person and online shopping in their everyday routines. This expansion has caused many shop owners to adopt technologies that allow them to keep up with the increased demand for services and products.
One of the ways it is doing this is by taking steps to ensure its information technology (IT) infrastructure operates at peak efficiency. Adopting cloud-based Network as a Service (NaaS) tools enables businesses to maintain an agile network architecture. From here, operations can adjust as consumer demands and operational practices change. Utilizing collaborative applications across the chain enables businesses to also communicate about fresh needs easily and efficiently.
Another component that e-commerce business owners are using to establish strong supply chains is security infrastructure. Each step in the process presents a range of vulnerabilities — both to consumer and company data — that criminals could exploit. Adopting artificial intelligence (AI) driven threat detection tools enables businesses to monitor all activity across the chain, predict issues, provide insights for adjustment, and even automatically quarantine viruses.
The success of supply chains can be influenced by selecting the most impactful tools to support the businesses and processes involved. Given how vital supply chains are to not just industries but also the economy, businesses need to stay abreast of upcoming advances. Adopting tools for their chains early not only helps support efficient operations. Early engagement may also give these chains a competitive edge.
