Established markets can no longer be the primary focus of organization to fulfill their business outcomes. To sustain a competitive edge, they need to consider expanding into emerging markets, says a McKinsey report titled Excellence in Supply Chain Management. The effectiveness and efficiency that the supply chain management of businesses show could hold the key to their success in these emerging and established markets.
Supply chain management (SCM) has to work in tandem with business strategy for it to realize its full potential. Let’s look at some of trends that are likely to impact the SCM of businesses and how they can complement it with their business strategies.
- Data integration
In order for organizations to realize the efficiency that SCM can bring about they need to integrate their data. According to an IDC report, data integration will lead to not just faster decision making, but also enhance the entire process as a whole, resultantly benefitting supply chain processes and operations. Business owners and stakeholders understand the importance of Big Data, but now is the time to leverage that importance and use it to their benefit. IT estates and internal supply chain shall become inter-dependent and organization will experience superior functioning. Shaping and predicting demand will be easier.
- Warehousing to self-driven vehicles, can all be automated
Automation cannot be restricted to just the giants, it has to permeate to the SMEs as well and it shall. Operations and supply chain management rely on automation for their success. What businesses and their associates need to understand that automation does not necessarily mean cutting-back on labor forces. In fact, a McKinsey report says that automation will enable labor-intensive jobs to get easier and more convenient to perform.
Omnichannel experiences will be integral
Organizations the world over are turning to technology and technology-driven innovations to meet evolving customer expectations. Customer experiences have to be consistent throughout their life cycle, meaning achieving supply chain effectiveness is integral in order to achieve so. According to a Forbes article, businesses will look to expand their IT estates in order to provide superior customer experiences to their customers, irrespective of whether they are from emerging or established markets. Technologies such as the internet of things (IoT) will help drive transparency across the SCM and the organization.
- Resource optimization
The year and the times to come will witness businesses making more and more environmentally friendly choices. This will be a conscious choice, rather a government induced one. Technology and automation will help organization rectify their carbon emissions and make sustainable choices.
CSR activities are also high on a customer’s mind. If a CSR study conducted in 2015 is to be believed, 80% of customers consider the CSR initiatives of a company throughout their lifecycle. This too is driving organizations to make careful choices and invest in more pro-environment technologies.
- Freight shipping with 3PL
“Business and government organizations are highly aware of the added value that the effective use of logistics outsourcing can have on logistics and supply chain effectiveness.”, says Dr. William L. Grenoble, Executive Director, Center for Supply Chain Research and Senior Research Associate for The Smeal College of Business, Penn State University.
Freight shipping with 3PL makes sense in India because of several reasons, especially since the infrastructure is already overstretched and under developed. Not only is it sensible for organization to partner with a 3PL who has expertise in logistics, it is also revenue-friendly.
This industry too in undergoing a digital transformation and freight bookings are being conducted efficiently online with aggregators and 3PL providers.
Trip In – an online freight shipping company, offers technology-driven solutions in the logistics sector that lead to businesses realizing maturity in their supply chain management. From freight booking using our app, to shipping, we offer end-to-end expertise where the shipper experiences transparency and complete control of their cargo, throughout the logistics cycle.