January 1, 2023
According to a whitepaper from the American Supply Chain Association, the future of supply chains will be driven by data collection, advanced analytics, and automation. Smart logistics solutions based on the internet of things and next-generation robotics will be a key focus, and artificial intelligence and machine learning will play a larger role in processing large datasets in real time. The importance of risk management and resilience will continue to be a priority, and companies will need to prioritize circular and sustainable supply chains, particularly for essential goods. The ongoing logistics disruption will also drive the need for constant data maintenance for logistics parameters and inventory levels. The whitepaper notes that successful digitalization of supply chains will require large-scale sensor implementation via the internet of things, digital twins, shared internal and external interfaces such as cloud-based networks, and process automation and verification. Those who adopt digital supply chain capabilities will have a competitive advantage over those who do not.