Supply chains are the lifeblood of most, if not all, businesses today. Keeping all supply chain components running as smoothly as possible ensures that your business can provide on-time delivery of products and services, especially with changing consumer demands and supply chain disruptions brought about by the COVID-19 pandemic. Aside from reading up on the latest supply chain statistics, it’s always helpful to stay updated on the latest supply chain trends.
In this article, we’ve gathered the top predictions for supply chains, supply chain management (SCM), and even inventory management for 2021 and beyond. By staying on top of supply chain management trends and issues, you can make sure that your company can readily adapt to these changes.
SCM encompasses a broad range of activities and requires excellent attention to detail. This is why most enterprise resource planning software are designed with modules and features dedicated to SCM. Through the software, managers can optimize supply chains, keep them running as smoothly as possible, and prevent disruptions that affect customer service.
However, having these software solutions at your disposal is not enough to gain an edge over your competition. With the ongoing pandemic, a large number of SCM professionals reported experiencing disruption that forced them to change their strategies (RetailNext, 2020). These included having to adapt their supply chain for ecommerce, renegotiating contracts, as well as finding alternative sourcing options. As such, keeping tabs on industry trends will allow you to be quick on your feet and make sound business decisions.
Given the importance of supply chains, it’s no surprise that many trends in supply chain management center around the improvement of the supply chain itself, with new business models gaining traction (SupplyChain247, 2018). Supply chain technology trends also heavily feature robotics, IoT, and blockchain, which are all projected to make the supply chain faster and less prone to disruptions (Supply Chain Management Review, 2018).