Blockchain, deep learning, machine learning, the internet of things, artificial learning and several other buzzwords have surrounded the business environment. These technical advancements are forcing businesses to update themselves.
How?
Because the few businesses that are using them have enhanced their productivity and growth rate.
And recently, these trends have been knocking on the supply chain door. These emerging technologies are helping organisations assess their risk culture and determine their readiness to explore and adapt to the volatile business environment.
For instance, since the Covid-19 pandemic hit, the entire world’s supply chain has been shot. These technologies are helping organisations be back on track by assisting them in figuring out areas that need improvement and how they can be recovered.
Let’s Talk About Supply Chain Technology Development
Supply chain technology has entered an exciting phase. Available and emerging solutions have the potential to transform the speed, efficiency, and flexibility of operations. Organisations can overcome the challenges of tracking their shipment from vendors and short supply by implementing them faster, more effectively than the competition.
So if you are striving to become a supply chain manager, the timing could not have been better. The digital space is filled with Edtech firms offering certified supply chain professional online courses. These courses can help you gain prowess in emerging technologies in the supply chain along with the practical application knowledge you’ll need to implement these in your organisation.
To that end, a certified supply chain professional can be an excellent resource to understand the practical application of these technological advancements. Or, you can keep reading to get started…
- Infusion of Artificial Intelligence
Not as important as finding water on Mars, but yes, AI carries great potential. It can enhance and automate decision making, reinvent business models, and redefine the customer experience.
However, although current AI solutions are more focused on finding patterns and predicting future scenarios, they still lack basic decision-making abilities. Combining these pattern-finding abilities with advanced prescriptive abilities can be critical for supply chain uptake, enabling users to streamline operations and capacity planning.
- Mutation of Advanced Analytics
The second most trending technical advancement in the supply chain is advanced analytics. This technology is enabling companies to leverage future opportunities and mitigate adverse events proactively.
As you may know, there are five basic functions of supply chain management, namely purchasing, operations, logistics, resource management, and information workflow. And prescriptive analytics helps improve decision making in all these functional areas of the supply chain. Furthermore, processes that previously relied on gut feeling can now be powered with data collated from predictive and prescriptive analytics. And this could have a notable impact on future demand and supply chain talent.
However, in order to leverage advanced analytics, you need to have prowess in the concept. This is where a certified supply chain professional online course can come in handy. Online courses like the IIMK online courses in supply chain management can help you understand not only what goes behind the curtain but also how to leverage it to streamline your organisation’s supply chain.
- A Warm Welcome to Conversational Systems
The adoption of conversational systems, especially in supply chain management, is growing rapidly. And the most recognisable implementations of these conversational systems in today’s technological-driven world are virtual personal assistants and chatbots. These advancements are taking interaction to the next level.
Not only can they handle customer questions and offer solutions without any human intervention, but they can also enable transactions, handle payments, ensure delivery, and provide enhanced customer service.
The IIMK online courses in supply chain management can help you gain exposure to these latest themes and trends of the domain and understand the complexity and challenges of maintaining a global supply chain. So to attain detailed learning on technical advancements of the supply chain, consider enrolling for this certified supply chain professional online course.
- Out-of-the-box and the Very Innovative Robotic Process Automation
If your organisation is striving to cut costs, eliminate keying errors, or speed up supply chain processes, robotic process automation is the answer they’ve been looking for.
For instance, your organisation wants to work with structured data to automate an existing manual task or process with minimal re-engineering while avoiding major system integration; it is all possible with robotic process automation.
By enrolling in a certified supply chain professional online course, you can gain an in-depth understanding of these concepts and applications of the supply chain that are becoming increasingly relevant in today’s business environment. What’s more, advanced courses like the IIMK online courses in supply chain management can provide hands-on experience with analytics and forecasting models to help you solve supply chain-related problems in real-time.
- Partnership with Blockchain
There it is, the biggest, most significant technological advancement in supply chain management – blockchain. Certain facets of supply chain management, such as smart contracts, traceability, and authentication, are prime candidates for blockchain. Other business use cases are yet to be discovered, but blockchain-focused businesses have initiated some early pilot projects across the world.
These projects are aimed to maximise the potential of blockchain for the supply chain. For instance, currently, blockchain is being used to track the movement of diamonds from mining to retail stores by leveraging digital records that include unique attributes like colour, certificate number, carat, etc.
Bottom Line: These Technologies can Affect Your Company’s Bottom Line
The good news is that these contemporary technologies are easy to understand, cheaper to implement, and easier to scale compared to existing technologies. A certified supply chain professional online course is all you need to become a thriving and up-to-date supply chain professional. Experts all over the country are recommending the IIMK online courses in supply chain management. Offered in collaboration with Talentedge, these courses from IIM Kozhikode can help you understand the A-Z of emerging supply chain technologies along with how to leverage them in today’s tech-driven world.
So what are you waiting for? Enrol for the IIMK online courses in supply chain management TODAY!