How are Technological Advances Aiding the Supply Chain Industry's Evolution?

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.

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.

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.

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: https://www.supplychainquarterly.com/articles/6498-integration-of-hi-tech-advancements-in-the-supply-chain-making-last-mile-deliveries-a-smooth-ride