Emerging Technologies Transforming Supply Chain Solutions

As companies invest into making supply chains more resilient, selecting the right technologies is key. For supply chain solutions companies, it is important to stay innovative in a market that is become highly dynamic.

• Automatic sorting and retrieval systems (AS/RS)

  AS/RS is a relatively novel type of intralogistics machinery. It replaces conveyors, forklifts, and racks, which are traditionally used to move items around a warehouse into a single, cubic system. This system puts away, stores, and retrieves items automatically.

• Sourcing software with market intelligence

  Sourcing & supplier management software helps companies find suppliers to ensure they have the right components available in the right quantity to maintain their activities. The latest innovation in this segment is the addition of market intelligence that allows the procurement team to act more strategically. Market intelligence for sourcing helps purchasing managers make better decisions with a frequently updated insight on market dynamics, pricing, lead times, and regional and raw material trends. For example, procurement can now have a live view of the network of potential suppliers based on the current supply capabilities. This information can be used in supplier negotiations or for ensuring companies do not run out of stock of key components.

• IoT track and trace devices
  IoT-based track and trace devices allow a (near) real-time view on goods in the supply chain (e.g., goods on a pallet or inside a container). The devices are equipped with data collection (sensing) and connectivity modules (often using cellular or satellite technology).By using track and trace, companies get a whole new level of visibility in their supply chain. Not only can companies track the exact whereabouts of their goods in the supply chain, it also allows them to calculate estimated times of arrival and in some cases the physical conditions (e.g., temperature) of the goods. The data from the devices also allows companies to identify weaknesses in the supply networks by analyzing where bottlenecks occur or at what points along the journey cargo is frequently damaged.
• Supply chain digital twins
  A supply chain digital twin is a digital replication/model of the supply chain. It allows the user to determine the impact of a change in physical reality by first testing the changes in the digital model and then simulating/predicting the outcome accordingly.With supply chain digital twins, companies can optimize their supply chain planning and design. Companies can test the impact of different supply chain scenarios (such as the potential effect of a manufacturing facility closure). They can then see what the potential effect on key supply chain KPIs is (e.g., how lead times and inventory levels will be affected).
• Intralogistics robots
  Intralogistics robots are machines that are automatically controlled, reprogrammable, multi-purposed (capable of being adapted to a different application with physical alteration), and programmable in three or more axes. They are specifically designed for intralogistics picking and placing because they can operate on limited floor space and reach into shelves, palletizing machines, or conveyors to load and unload parts. Intralogistics robots improve warehouse automation and efficiency significantly, leading to faster operations and the ability to handle demand peaks much better.
• AI-enabled inventory optimization software
  Modern inventory planning is a very data-heavy task with companies compiling millions of data points. AI-enabled inventory optimization software is helping companies crunch these numbers much faster than before. It automates, streamlines, and controls the in- and outbound inventory flows and improves the process with AI capabilities.
  AI-enabled inventory optimization software applies AI to continuously search for strategies to minimize inventory while maintaining confidence that the company will have sufficient inventory available to meet customer’s needs.​ This innovation helps companies to find better ways to assess optimal safety stock levels.
• IoT-based proactive field service
  IoT-based proactive field service software provides a step up from traditional field service of assets running in the field. While traditional field service software mostly works reactively by allocating field service technicians to a site after a failure has been reported, proactive field service uses IoT and predictive maintenance to send field service technicians to a remote site before the asset fails. Proactively performing field service operations on assets ensures that such assets won’t fail. Not only does this lead to higher asset uptime, but it also leads to earlier spare part ordering which ensures these orders do not need to be rushed through the supply chain with the highest priority. IoT-based proactive field service maintenance software also ensures that field service workers are as productive as possible while using minimum spare parts.
• Supply chain visibility software
  Supply chain visibility is key to creating supply chain networks that will survive disruptions like the global COVID-19 pandemic. Companies ask questions such as: “What backup supplier can help us avoid stopping production?” or “When will my shipment finally arrive?” With supply chain visibility software, companies can get a simple, quick overview of all the important supply chain-related metrics that are key to running smooth operations, such as average lead times or inventory levels. By using supply chain visibility software, companies get a much better handle on where their current goods in transit are and when they are expected to arrive. The tools also provide instant alerts when a crucial shipment is expected to get delayed.
• Warehouse Automation
  Automation of inventory movement into, within, and out of warehouses to consumers with little human intervention is known as warehouse automation. By automating repetitive physical tasks and manual data input and analysis as part of a business’ operations, the company saves time and money.

  Humans are still involved in warehouse automation systems that span everything from unloading trucks to completing orders.

  It’s natural for employees to be concerned that warehouse robots or automated systems would take their jobs. However, by implementing these technologies, the lives and employment of everyone who works in warehousing and manufacturing will be improved — from labourers and foremen to the business owner. Automated technologies that perform demanding, repetitive jobs allow employees to concentrate on more value-added activities and improve worker safety and morale.

  Warehouse automation has many advantages. One of the first advantages warehouse managers notice when they begin automating their operations is a decrease in the number of human mistakes.

• Last-Mile Delivery
  After the warehouse or distribution centre, a large percentage of a company’s overall transportation costs are incurred by the consumer. The most critical aspect of logistics is last-mile delivery since it has a direct impact on customer satisfaction. Yet there are a number of issues with last-mile delivery, including delays brought on by traffic and the idiosyncrasies of customers as well as regulations and delivery density.

  For companies, this is the most important stage in the delivery process and the one where speed and efficiency are most important considerations In the e-commerce, food, and retail sectors in particular, customers’ need for fast delivery is always rising. As a result, it is the most costly part of the trip.

  Modern delivery software can show companies where their trucks are in real time, whether they’re deviating from their intended path, and how much time they’ve been sitting idle. This not only provides logistics and supply chain managers more control over their fleet, but it also reduces theft and spoiling to a minimum. Predictive visibility is also an option, where the technology informs the shipper of where the cargo should be at a certain moment.

• Utilization of Supply Chain Management Software
  Logistics software, such as TMS (Transport Management Software), is very beneficial to supply chain management firms. For supply chain managers, TMS provides a digital platform that helps them improve fleet operations by monitoring inventories and supplies in real time across the supply chain.

  Fleet management used to be a labor-intensive manual process with a high probability of mistake. Warehousing and inventory management are both automated using logistics software. As a result, accuracy increases, operational expenses are reduced, leading to transparency of operations.

  Technology is constantly changing the world, and it has shaped the way industries operate. With increasing technological advancements in the logistics and supply chain industry, TVS SCS has evolved as a Digital First Supply Chain Solutions Provider. We deliver innovative and responsive IT solutions that are future proof and optimise our client’s supply chain. We are transforming our business models in line with technology, new supply chain paradigms, and continuously evolving to keep pace with macro-economic variabilities and pandemic induced changes.

  Our specialisation stems from a deep understanding of the supply chain processes and digital technology. We take pride in helping our customers achieve competitive advantage through the digital transformation of their supply chain processes. Our highly experienced team of supply chain experts and technology professionals create a resilient, digital-first supply chain by integrating our solution and customer’s enterprise and bespoke systems.

  We at TVS SCS extract full value from technology, as data, connectivity and processing power expand, so do opportunities for us to create value through innovative business models, products, services and emerge as the most preferred end to end supply chain partner and collaborator in growth for our customers in line with our vision.