×


Home About Contribute Media Kit Contact Sign In
×







.


Technology Industry Opinion

Digital technology is transforming risk monitoring in supply chain performance


Supply chains around the world have been placed under tremendous pressure by the COVID-19 pandemic, which has exposed serious flaws and vulnerabilities, but has also led to accelerated digital transformation.

Digital technology is transforming risk monitoring in supply chain performance


"Ultimately, industries are increasingly realising that their supply chains need to be more resilient, responsive and autonomous"
Bradley Wingrave



Bradley Wingrave, CEO and founder of Smarter Technologies, a smart solutions provider for businesses’ transport, logistics and mangement-related challenges, explains how digital technology is transforming supply chain performance.  

Supply chains are currently being disrupted by shortages of raw materials, supplier and carrier capacity shortages and disruptions due to port capacities. For example, according to Air Cargo News, 95% of the cargo that passes through Heathrow is usually carried in the cargo hold of passenger planes. The vast reduction in commercial passenger flights in response to the pandemic puts an intense strain on supply. 

In response to unanticipated and urgent demand coupled with supply shortages, some of the exposed problems affecting supply chains include:

  • Lack of agility and flexibility
  • Lack of technology solutions to manage new sourcing and fulfilment strategies
  • Lack of visibility 

 

Ultimately, industries are increasingly realising that their supply chains need to be more resilient, responsive and autonomous. In other words, any party at any time should be able to answer the question:

“Where are my goods, and when will they arrive?”

Access to real-time, transparent information is becoming critical — not only to meet customer needs and expectations, but also to ensure health and safety of products and people. Having end-to-end visibility lets customers know where their product has been, where it is on the shipping route and exactly when it will be delivered. It also helps companies to identify disruptions across the supply chain and use this data to optimise for future efficiencies. 

A positive outcome of the COVID-19 outbreak is the realisation of major potential digital manufacturing and supply chain opportunities. 

  • Modernising remote work capabilities
  • Remote monitoring and diagnostics of operations and assets
  • Heavy investment in process automation
  • Remote product service as a key part of product innovation
  • A more resilient supply chain

 

Here’s how digital technologies are helping companies to realise these objectives 

Digital innovations enable greater use of automation, quicker responses to changing needs and more transparency across the supply chain.

Data convergence 

Data from information technology (IT) and operational technology (OT) needs to converge to allow for greater insights and data-driven decision making.

Collecting accurate, real-time data on the location, temperature, condition and safety of assets allows for the sharing of data across the business. This enables:

  • Identification of bottlenecks
  • Demand planning
  • Better inventory management
  • Predictive maintenance
  • Higher productivity from employees and partners
  • Theft prevention
  • Route efficiency
  • Faster delivery

 

Cloud technology 

Companies that have implemented cloud technology gain the advantages of remote access, automation and collaboration along the supply chain. 

End-to-end visibility

Supply chain resilience is dependent on having end-to-end visibility, including shipments, orders and items. With real-time tracking and tracing, businesses can reduce lead times and optimise supply chain management. Immediate exception alerts allow for rapid intervention where necessary.

Automation

Knowing the status of assets is one thing; the ability to optimise and change this status through two-way communication is even more powerful. For example, a temperature sensor on a product may alert you that the temperature is above or below a certain threshold level. This vital information informs the action to adjust the temperature settings of the cooling mechanism, an action which can be automated if you have the right systems in place. 

Artificial intelligence (AI) 

In supply chain management, AI has the potential to:

  • Automate activities (in both hardware and software)
  • Drive decisions
  • Support collaboration and ecosystem support

 

Supporting technology infrastructure 

There are several elements involved in supporting supply chain digitalisation. These include: 

  • Internet of Things (IoT) Sensors: These add a real-time data dimension to fixed and mobile assets.
  • Mobility: Processes, communication and security should be managed and monitored remotely. 
  • Security: Zero Trust infrastructure mitigates the threat of internal and external cybersecurity attacks. 
  • Big Data Analytics: Collecting, consolidating and analysing supply/demand data to gain actionable insights.
  • Connectivity: Connecting devices, sensors and tags to transmit key data or insights over a network in real-time. 

 

A rapid return on investment 

The business value of supply chain digital transformation is huge. With customer needs and expectations evolving faster than ever, and a global pandemic placing new pressure on supply and demand, adopting a digital-first mindset helps companies become more agile and remain relevant and profitable in a changing world. Asset tracking, monitoring and recovery solutions, which can help to enhance supply chains by streamlining internal development, production and transport operations, become more valuable while creating a customised, cost-effective delivery solution for customers.

.


Technology Business News - Next year will be the 40th anniversary of the launch of MTV. Launched in August 1981, MTV aptly chose Video Killed The Radio Star by The Buggles as their first featured music video. Video never did kill the radio star, online radio stations and music streaming services have never been more popular.


YouTube creator brings electronic music to life with visionary video productions

Technology Business News - Organizations invest heavily in security and compliance. They secure and monitor emails, networks and devices to help protect their data, employees and reputation.


Theta Lake's rapid rise to prominence from the need to protect the collaborative workplace

Technology Business News - Did you know that Sweden is one of the countries leading the way in the move to a cashless society In 2018, it is estimated that only 1 of Sweden s GDP was circulating in cash compared to 8 in the United States.


MovoCash at the forefront of Digital Payments Technology as we shift away from cash

Technology Business News - Knowledge Quarter Liverpool KQ Liverpool has today launched KQ Reward, a community referral scheme providing tiered rewards for successful introductions of new customers to KQ Liverpool.


Knowledge Quarter Liverpool reveals new community referral scheme

Technology Business News - Forty years in business is a significant milestone for any business, but one that is made all the more special as Lex has managed to survive the coronavirus pandemic and provided equipment to help ensure other businesses do likewise.


Family business celebrates 40th anniversary

Technology Business News - The acquisition comes after Invosys identified a natural synergy between the two companies, who already share several joint customers, which matched Invosys core values of leading from the front and delivering on promises.


Communications Giant Invosys Acquire Atrium Telecom in Strategic Move






Ten Times Ten

We transform your bright ideas into brilliant digital products.