The new year is already here, and with the end of 2019, we reach the end of the decade – and the beginning of 2020. In the last decade, the main trends were digitization and globalization. Supply chains have lengthened and extended across borders, bringing a whole new bunch of opportunities and challenges. 2020 supply chain management trends will further these shifts in 2020.
-Green Supply Chain:
The growing trend for environmental sustainability has put new pressure on supply chain managers of various organizations. Green supply chain management practices will be included at every level of the supply chain. Some simple ‘green’ practices are energy-efficient lighting in the warehouse and planning shorter delivery routes to minimize mileage & fuel consumption. In order to develop a truly green supply chain, organizations will require a complete new methodological shift.
-Supply Chain Management Software:
Supply chain management software has been proven extremely popular over the last 20 years with businesses that operate in time and cost-conscious production and distribution environments. As with most advanced technologies, supply chain management software functionality has undergone incredible advances, especially in the last few years which has enabled it to keep pace with an ever-changing business world and will continue to evolve with the changing market needs.
This not the end of globalization, in fact, we will see more avenues up for globalization in 2020. Technology has made global markets more accessible to SMBs than before. It also has increased shipping visibility and customs requirements with various advanced software that ensure organizations are meeting the requirements. With changing trade relations and tariffs between countries, companies have now ways to enter new markets to grow globally.
On the heels of globalization, comes cloud-based technology. Cloud computing is basically on-demand computer system resources, like data storage, servers, and computer power, etc. delivered over the internet. The added benefit of cloud-based technology is being accessible from almost anywhere. The Cloud is helping many businesses to stay connected to their supply chain while cutting costs. This is making businesses more competitive than ever before.
With the growing use of cloud-based technology and globalization, security comes to question. As the company’s shift to online technologies- cloud, so do security attacks. These cyber security attacks can lead to a huge range of loss, be it intellectual property or customer data. cloud security solutions are being offered that helps in protecting the unauthorized access and data breaches. As supply chains are growing, they include more information-sharing, risks are increased – but so do the options for storing data more securely on the cloud.
The 2020 supply chain management trends focus on technologies bringing new opportunities to supply chain management and bringing different areas of the supply chain closer. Contact a professional Supply chain management softwareprovider to get your hands on them.