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Key Forces Shaping the Future of Supply Chains: Insights from Supply Chain Experts for 2024

19 February 2024, 9:36 pm

In late 2023, The Association for Supply Chain Management (ASCM) identified key forces driving the future of supply chains. Digitization, Big Data and Analytics, Artificial Intelligence, Investments in Systems and People, and Visibility, Traceability, and Location Intelligence were among them. With this data in hand, Made4net asked our partner community to weigh in on which trends they thought would take center stage in 2024 and why. We compiled all their advice in a new white paper titled: “Charting the Course for Supply Chain Excellence in 2024: From Digitization to Human Capital” which is now available to download.

In this post, we’ll take a sneak peek at some of the key takeaways offered in the paper.

Digitization Takes Center Stage

The majority of our experts agreed that digitization, meaning the conversion of data from a physical to a digital format, deserved the top spot. According to Chuck Fuerst, Chief Marketing Officer at ReverseLogix, “Nearly every advancement or trend in the supply chain depends on one thing: Digitizing it. In the coming year, companies will be laser-focused on automating, streamlining, and digitizing as much of the supply chain as possible to make way for faster processes, less cost, and the implementation of AI-enabled capabilities.”

Big Data and Analytics Fuel Optimization

Several experts felt big data and analytics, meaning the strategic utilization of massive data sets, merited the top spot. John Seidl, TZA’s Director Partnerships & Alliances, shares, “Access to data generated by various supply chain execution systems will be aggregated and utilized to identify opportunities for more efficient operations, supply chain efficiencies and improved customer satisfaction. Look for the BI tools that reside in the LMS, WMS, and OMS to come together to provide improved insights from the network level through the facility, team and individual contributor levels.” 

Artificial Intelligence Drives Intelligent Operations

All of our experts agreed that Artificial Intelligence (AI) will continue to garner attention for its potential to revolutionize supply chain operations. From intelligent sourcing to inventory management and logistical route-planning, AI offers immediate returns and promises ongoing advancements.

Visibility, Sustainability, and Software Adaptability

While not topping the list, visibility, sustainability, and software adaptability remain critical considerations for supply chain leaders. Improving supply chain visibility enhances data quality and informs strategic decision-making, while sustainability initiatives gain prominence globally. Additionally, software adaptability ensures that organizations can effectively respond to evolving market demands and technological advancements.

The Paramountcy of People

Amidst the technological advancements reshaping supply chains, the importance of investing in human capital cannot be overstated. Tom Stretar, Vice President of Technology at enVista, emphasizes the critical role of people as the backbone of supply chain operations. Despite automation and technology, investments in employee training, development, and engagement remain essential for driving optimal performance.

Looking Ahead with Made4net

Made4net is committed to empowering organizations with adaptable, scalable supply chain solutions. With customers in 30 countries and solutions in 20+ languages, Made4net’s SCExpert platform enables organizations to enhance efficiency, visibility, and agility in their supply chain operations. By leveraging insights from industry experts and staying ahead of emerging trends, Made4net continues to drive supply chain excellence in the ever-evolving global landscape.

“Charting the Course for Supply Chain Excellence in 2024: From Digitization to Human Capital” provides a 360-degree view into the future of the supply chain. If you want the inside scoop on the top priorities you should be focused on and practical advice on how to prepare your operations for the future, download the full paper now. It’s essential reading for all supply chain and logistics leaders looking to stay ahead of the curve.

Get your copy here.