Driving Tech Innovation for Logistics & Supply Chain Industry to boost growth & sustainability
Over the last few decades, the logistics industry has witnessed tremendous changes in their supply chain operations. Business priorities are no longer centered around manufacturing and product design, the focus has shifted towards deriving maximum value from their supply chains with end-to-end operational visibility right from customers to suppliers and vice versa. Logistics companies are leveraging disruptive technology to optimize their supply chains and accelerate business growth and scalability.
According to Mckinsey & Company, 'The application of the Internet of Things, the use of advanced robotics, and the application of advanced analytics of big data in supply chain management can significantly improve performance and customer satisfaction'.
In this blog, we will discuss how brands in the Logistics sector can derive maximum benefits from supply chain optimization.
What is Supply Chain Optimization?
The supply chain is a key business process, responsible for streamlining the entire product flow, right from manufacturing design to delivery. With the burgeoning growth of digitalization, businesses in the logistics sector are deploying state-of-the-art technologies like AI, IoT and Blockchain to streamline operations and drive impeccable customer experiences. Supply Chain Optimization helps brands leverage cutting-edge technology to deliver goods and services that are aligned with their unique customer needs, enabling them to derive process efficiency and greater profit margins.
What are the top benefits of Supply chain optimization?
Brands that are driven to exceed customer expectations and drive seamless digital experiences must focus on designing an agile supply chain optimization roadmap to break organizational silos and stay ahead of the competition. Below are some of the top use cases and benefits for leveraging supply chain optimization for the logistics sector:
1. Streamline Warehouse Management
Efficient Warehouse Management has been a key business bottleneck faced by the logistics sector. By leveraging AI-powered bots and automation tools, brands in the logistics sector can streamline end-to-end movement of goods in the warehouse, right from selection, sorting, organization and distribution.
2. Digitalizing Supply Chains for Enhanced Supplier Performance
'Supply chain digital transformation is proven to drive growth, mitigate risk, and optimize costs, but requires strong alignment between business and supply chain strategy to succeed', states a Gartner report.
Digitalizing supply chains with disruptive technology like data analytics, cloud and IoT-based solutions can help business leaders get a complete 360-degree view of their supply chain operations. With real-time access to data, brands in the Logistics sector can effectively identify key business bottlenecks and track supplier performance. Supply chain optimization can help brands make informed strategic decisions regarding route planning, sales forecasting, on-time goods delivery, quality improvements etc and enhance their collaboration with their trading partners to ensure seamless business continuity.
3. Reduce Operating Costs
As brands in the logistics sector begin to automate their warehousing, inventory management and delivery processes with Intelligent Automation, AI or Machine Learning solutions, they can effectively reduce their dependence on manual efforts, thereby, reducing operational costs. Supply chain optimization not only allows the staff to focus on critical aspects of business operations but with timely delivery of goods and services to customers, it helps brands drive greater customer satisfaction and retention.
Over the years, Espire has delivered multiple projects on supply chain optimization and WMS globally. Espire’s 'crisis led innovation'- a dedicated CoE established for logistics based on Blue Yonder WMS had been set up with the aim of improving operations & meeting critical customer expectations. With time, this CoE has become even more extensive - to be the one-stop solution for brands to realize digitally enabled productivity gains in record time!
In our Logistics Newsletter, we demonstrate our understanding of the challenges faced by the Logistics & Supply Chain Industry & talk about our new offerings to mitigate them to build business resilience and growth. Read more > here
To discover how we’re assisting leading brands in the sector accelerate their business growth & scalability, visit > https://www. espire.com/industries/logistics or get in touch at email@example.com