By establishing an immutable record of truth across the supply chain, blockchain technology may help organizations become more secure and transparent.
FREMONT, CA: Any company would benefit from implementing more ethical and environmentally sustainable supply chains. Businesses may achieve transparency, energy efficiency, and waste minimization–to name a few–across the whole supply chain operation by employing technology, such as automation and robots, tracing and mapping technologies, and transportation innovations like electric cars.
Machine Learning and Artificial Intelligence
Artificial intelligence (AI) and machine learning are penetrating the supply chain industry faster than ever before. Using scenario analysis and numerical analytics, these technologies provide new automation power, such as assisting planning activities, demand forecasting, predictive maintenance, synchro modality, and collaborative shipping. As a result, AI capabilities can drastically cut mistake rates, lower operating costs, and improve supply chain flow.According to research, AI can reduce global greenhouse gas emissions by 4 percent by 2030, or 2.4 billion tonnes of CO2.
Robotics and Automated Things
Since the pandemic, internet purchasing has expanded by over 150 percent, and customer expectations for faster and cheaper delivery have skyrocketed, putting existing warehousing and last-mile logistics capacity to the limit. Businesses can increase productivity, efficiency, and product quality with the help of robotics and automation, such as drones, delivery robots, inventory management robots, and disinfection robots, as well as become more sustainable because they are highly accurate and do not require as much energy to operate as humans do.
By establishing an immutable record of truth across the supply chain, blockchain technology may help organizations become more secure and transparent. Products and materials can be reliably traced back to their origins. This will undoubtedly provide a better line of sight into a product's history while also improving processes such as eliminating redundancies and bottlenecks and spending fewer resources in the long run.
3D Printing or Additive Manufacturing
Companies may now keep virtual inventory and manufacture stock on demand thanks to this new technology. This means that companies can save a significant amount of money on shipping and packaging, and energy. Furthermore, recycled materials from inside the supply chain could be used as the base materials. According to a study, 3D printing might reduce CO2 emissions from industrial manufacturing by up to 5 percent by 2025.