As we are all aware, no modern business is operating without technology. In particularly, Supply Chains cannot thrive without the ever-advancing systems and programmes that have been created to support the demands of the new expectations of customers. Modern Consumers are known as the ‘always-on’ generation. Every aspect of our lives now seems linked to technology, and this includes how we shop, and the information we expect to see from or about the businesses we are going to purchase from.
Thanks to advancements in technology, businesses can now adapt a wide variety of methods for their customers and suppliers to interact with them. Known as digital disruption, new and emerging technologies, such as the Internet of Things (IoT) and Artificial Intelligence (AI) provides both opportunity and challenges for modern supply chains.
Modern consumers do not like to wait, a fact we have already established. If you currently have stock-outs, downtime while waiting for parts or a slow-moving supply chain, you are quickly going to lose your market share as ‘shoppers’ look for other options.
Luckily for the global manufacturing industry, the revolution known as Industry 4.0 is totally transforming manufacturing to make it robust enough to achieve the demands of today.