Supply chain management is an important aspect for a business and is essential to company success and customer satisfaction. There has been a dramatic shift in supply chain management technology due to factors such as recession, inflation, geopolitical/trade risks etc. As we move into 2023, it's essential to be aware of the latest supply chain trends and technologies that can help improve operations and stay ahead of the competition. In my previous blog, Supply chain trends in 2023, I had covered top trends that will shape supply chain management industry in 2023.
Organizations should utilize these latest technology and trends in supply chain management (SCM), to stay ahead of their competition and simultaneously increase their profits and revenue. Let's understand, how 3SC’s intelligent supply chain management solution, SCAI can be leveraged to keep up with these trends.
Automation of Supply Chain Management
Supply chain automation is one of the most significant supply chain trends for 2023. Automation can help reduce costs, improve efficiency, and increase accuracy, which are all critical to the success of any supply chain. Automation can be used for a variety of tasks, including inventory management, transportation planning, and demand forecasting.
3SC SCAI (Supply Chain Artificial Intelligence) is an intelligent supply chain planning and execution platform that enables enterprises to build a synchronous, resilient and sustainable supply chain. SCAI consists of Integrated business planning (IBP), Supply chain risk management, Enterprise data management and CarbonX, a next-generation Supply chain decarbonization platform as game-changing capabilities which help in the digitization and automation of the entire supply chain.
Supply Chain Sustainability
Sustainability is becoming an increasingly important issue in supply chain management, and it's expected to be a major trend in 2023. Businesses are under pressure to reduce their environmental impact and operate in a more sustainable way.
3SC SCAI CarbonX is a SaaS offering designed to help companies understand, analyse, and identify the risks and effects of sustainability (Climate Actions). It offers comprehensive indexing on carbon dioxide equivalent, sources, and associated risks, as well as options to act upon those.
Agility in the Supply Chain
Agility is becoming increasingly important in supply chain management, as businesses need to be able to respond quickly to changes in the market. This includes being able to respond to changes in demand, supply disruptions, and other unexpected events.
3SC SCAI's Integrated Business Planning module can help you improve your supply chain agility. It can help you optimize your supply chain operations, improve decision-making, and respond quickly to changes in the market. By using Integrated Business Planning, you can improve your supply chain's ability to adapt to changes in the market and stay competitive.
Risk Mitigation and Adaptability
Risk mitigation is an essential aspect of supply chain management, and it's expected to be a major trend in 2023. Businesses need to be able to anticipate and mitigate risks in their supply chain, such as supply disruptions, natural disasters, and other unexpected events.
3SC SCAI Risk Management & Digital Twin module is an intelligent and agile AI-based platform that helps organizations enhance resilience, improve competitiveness, and minimize the impact of supply chain risks.
The platform finds and manages the disruptions by using a combination of Advanced analytics technology, collaborative capabilities, enhanced end-to-end visibility, proprietary risk detection and recommendation engine. 3SC's risk management uses known risk portfolios to identify and manage future disruptions in the supply chain.
Collaborative Planning
Collaborative planning is becoming increasingly important in supply chain management, as businesses need to work closely with their partners and suppliers to optimize their operations. Collaborative planning allows businesses to share data, coordinate their activities, and make better decisions together.
3SC SCAI’s Integrated Business Planning module can help you improve your supply chain's collaboration. It allows you to share data and information with your partners, coordinate activities, and make better decisions together. By using Integrated Business Planning, you can improve your supply chain's ability to work closely with partners and suppliers, resulting in a more efficient and productive operation. It establishes real-time shared visibility and processes with supply chain partners to facilitate identification and resolution of issues.
IoT Tracking
IoT tracking is becoming an essential aspect of supply chain management, as businesses need to be able to track their goods in real-time. IoT tracking allows businesses to monitor the location, condition, and status of their goods as they move through the supply chain.
SCAI's Risk Management and Digital Twin module can help you track your goods in real-time. It allows you to monitor the location, condition, and status of your goods as they move through the supply chain. This helps you anticipate and mitigate risks, such as supply disruptions, and improve your supply chain's overall efficiency.
Fig: Supply Chain Management trends in 2023 and SCAI Solutions to keep up with these trends.
In conclusion, SCAI is a powerful AI and ML-based supply chain platform that can help you stay on top of the latest trends and technologies in SCM for 2023. By using SCAI's supply chain management modules, you can implement these supply chain trends into your supply chain and improve overall efficiency, productivity, and sustainability. Additionally, the platform offers a way to anticipate and mitigate risks, track and monitor your supply chain in real-time, and collaborate with partners and stakeholders. Stay ahead of the competition by preparing your supply chain for 2023 with SCAI.