The future of supply chains

PreScouter, a Chicago-based research intelligence company, has compiled a new Intelligence Brief that examines the negative impacts that the COVID-19 pandemic has had on supply chains across industries and offers technology solutions that businesses can use to build more efficiency, transparency and resilience into their supply chain models moving forward.

The COVID-19 crisis has revealed supply chain weaknesses ranging from huge information gaps to product shortages, stockouts and transport holdups, forcing companies to question long-established supply chain practices and invest in new technologies. In this Intelligence Brief, PreScouter takes a look at current supply chain models along with the weaknesses that were exposed by the pandemic and then highlights the benefits of investing in advanced technological tools and processes that can facilitate the enhancement and strengthening of supply chain efficiency and resilience.

“For original equipment manufacturers, the supply chain plays a significant role in their strategic business models. During the pandemic, the best supply chain models across the world leveraging conventional and agile methodologies failed to meet customer requirements,” commented Sofiane Boukhalfa, PhD, Technical Director of the High Tech and Aerospace & Defense Practices at PreScouter. “This report outlines some of the reasons for the failure, as well as new technologies that could help moving forward,” he added.

The brief focuses on profiling three important supply chain technology disruptors — immersive reality, hyperautomation and digital twins — showcasing the benefits of adopting these technologies in supply chains and offering use cases featuring major companies in the logistics, automotive, energy, pharmaceutical, food & beverage and retail sectors.

The roles of other new trends and tools that will be key to developing more robust supply chain models are also discussed. These include cloud computing and 5G, artificial intelligence, robotics, data lakes, control towers, blockchain and 3D printing, among others.

In addition, the Intelligence Brief outlines the next steps for connected networks that will be essential for ensuring that digital supply networks are optimized to adjust and continue operating amid unexpected disruptions.