Almost every industry has seen its economic possibilities improve as a result of the technology boom throughout the world. The simplicity of online presence has increased sales for firms in the form of digitization. Global e-commerce surged to $267 trillion during the covid-19 outbreak, according to the United Nations Conference on Trade and Development.
According to Future Market Insights, the supply chain management market is expected to register a CAGR of 11.4% by garnering a market value of US$ 62.6 Bn by the end of 2031. This is due to technological advances in buying behavior, as well as the assurance of safe product delivery.
Developing new products or services, purchasing raw materials, developing those resources into semi-finished or completed items, shipping those goods, and delivering or distributing them to clients are all part of a supply chain. The term "supply chain management" (SCM) refers to a group of programs used to collaborate, integrate, and support all the aforementioned activities following a sale. The flow of goods from the point of origin to the consumer stage is easily managed in a coordinated manner. Each of the company's partners, including IT suppliers, providers, carriers, and others, are connected via the linkages and connections in this chain.
During the crisis, demand for e-commerce delivery surged by 25% as individuals exhibited a rising preference for purchasing things online. This necessitated a fluid delivery system that met both manufacturers' and consumers' product delivery standards.
Businesses are embracing cloud-based technology to increase the adaptability and flexibility of the supply chain operation. Additionally, it offers a variety of benefits, including as increased processing power, cost-effective pricing models, storage, and a reduction in administrative expenses. For instance, in February 2019, Blue Yonder and Microsoft partnered to install their SCM software on the Microsoft Azure Cloud. Blue Yonder offered better versatility and safety to commercial clients.
Furthermore, the Integration of technologies such as artificial intelligence, machine learning, and robots is enhancing the whole last-mile delivery process and allowing consumers to get deliveries based on their preferences.
Allocation rules are now an essential component of any logistical organization, as a result of cutting-edge technology like artificial intelligence. Making strategic choices regarding concerns such as micro-warehousing, constructing dark shops, sorting facilities, rider tie-ups according to pin codes, manpower, demand and supply, as well as other matters, is no longer an exhausting process. Last-mile delivery along with end-to-end visibility are ensuring the supply chain is durable and adaptive with the use of technology as well as artificial intelligence.
AI is transforming the logistics sector by bringing about advancements in data management and driving efficiencies throughout the whole supply chain. Growing instances of how AI-driven technology is enhancing the delivery ecosystem include robots, data analytics, predictive analysis, autonomous vehicles, and computer vision.
For instance, the now-common drone can transport a significant weight while moving on water, land, or the air. RFID can carry out a variety of warehouse duties by automating some processes to increase productivity and by streamlining some last-mile delivery procedures.
Thus, a plethora of options along with the ease of buying from the comfort of home has burdened the supply chain management system to ensure efficient last-mile delivery.
Read our recent blog where we discuss, the changing dynamics of last-mile delivery and how manufacturers are ensuring flawless deliveries.
