Top Emerging Technologies in Supply Chain Management, Procurement, and Logistics
Summary
TLDRIn this video, Eric Kimberling, CEO of Third Stage Consulting, discusses emerging technologies transforming supply chain management. He highlights the importance of supply chain management software, robotics for automation, the Internet of Things for real-time visibility, interoperability for system integration, artificial intelligence for predictive analytics, and blockchain for secure tracking. Kimberling encourages downloading the annual digital transformation report for insights on these technologies and independent software reviews.
Takeaways
- 🌐 Technology is rapidly transforming supply chain management with emerging tech at the forefront of digital transformations.
- 🛠 Established supply chain management software vendors like Blue Yonder and Manhattan Associates offer comprehensive solutions focused on various aspects of supply chains.
- 🏗️ Specialized vendors provide targeted solutions within supply chain management, such as standalone warehouse management, transportation management systems, and procurement systems.
- 🤖 Robotics are gaining traction in supply chain management, automating manual labor and error-prone processes, while also capturing valuable data throughout the supply chain.
- 🔗 The Internet of Things (IoT) enhances real-time visibility in supply chains by consolidating data from various touchpoints, improving tracking and integration.
- 🔄 Interoperability and integration technologies are crucial for tying together disparate systems and devices in the supply chain to provide centralized visibility and control.
- 🤖.2 Robotics not only automate processes but also capture data, contributing to a more efficient and predictable supply chain operation.
- 💡 Artificial intelligence (AI) can analyze the vast amounts of data captured in supply chains to predict future scenarios, helping to manage and mitigate risks.
- 🔒 Blockchain technology offers secure tracking and traceability within supply chains, particularly useful in highly regulated industries for compliance and recall management.
- 📈 The annual digital transformation report by Third Stage Consulting provides independent software reviews and rankings, as well as best practices for implementing supply chain technologies.
- 🚀 Emerging technologies in supply chain management are set to revolutionize the industry, offering new opportunities for optimization and efficiency.
Q & A
What is the primary focus of Third Stage Consulting, as mentioned by Eric Kimberling?
-Third Stage Consulting is an independent consulting firm that helps clients worldwide reach their third stage of digital transformation success, with a significant portion of their work involving supply chain management.
What does Eric Kimberling suggest is the core of digital transformations for many clients?
-The core of what clients are changing during digital transformations is often their supply chain.
What type of software solutions does Eric Kimberling discuss in relation to supply chain management?
-Eric Kimberling discusses supply chain management software solutions provided by vendors like Blue Yonder and Manhattan Associates, which focus on various aspects of supply chains, including warehouse management, logistics, procurement, and more.
How does Eric Kimberling describe the role of robotics in supply chain management?
-Robotics are used to automate manual labor and error-prone processes in supply chain management, increasing efficiency, consistency, predictability, and scale. Additionally, robotics help capture data within the supply chain.
What is the significance of the Internet of Things (IoT) in supply chain management according to the script?
-IoT is significant in supply chain management as it allows for the consolidation of data from various touchpoints, providing real-time visibility and better integration of data throughout the supply chain.
What challenges does Eric Kimberling highlight regarding the integration of different technologies in supply chains?
-The challenge is to avoid siloed technology that doesn't integrate. Interoperability and integration technology are needed to tie together different systems and provide centralized visibility into the supply chain.
Which vendors does Eric Kimberling mention as examples of interoperability and integration technology?
-Palantir and Snowflake are mentioned as examples of vendors that specialize in tying together and consolidating data from multiple sources.
How does artificial intelligence (AI) play a role in supply chain management according to the script?
-AI allows for the analysis and prediction of future scenarios in supply chains by learning from the data captured throughout the process, helping humans understand risks and opportunities for optimization.
What is the potential impact of blockchain technology on supply chain management?
-Blockchain technology can provide traceability and secure tracking of each step in the supply chain process, which is particularly useful in highly regulated industries for recall management and compliance with government requirements.
What is the purpose of the annual digital transformation report mentioned by Eric Kimberling?
-The annual digital transformation report contains independent software reviews and rankings of supply chain software and other types of software, along with implementation best practices, tips, and lessons learned, to help organizations understand the best vendors and technologies available.
Why is the annual digital transformation report recommended for those interested in emerging technologies?
-The report is recommended as it provides insights into digital transformations, technology-agnostic software reviews, and rankings that can aid in understanding the best vendors for various technologies discussed in the script.
Outlines
🚀 Emerging Tech in Supply Chain Management
In this paragraph, Eric Kimberling, CEO of Third Stage Consulting, introduces the topic of rapidly evolving technology in supply chain management. He emphasizes the importance of being aware of these technologies for digital transformations within supply chains. Kimberling promotes the annual digital transformation report, which offers independent software reviews and rankings, as well as best practices for implementation. The paragraph highlights established supply chain management software vendors and the emergence of more targeted solutions for specific supply chain functions, such as warehouse management and logistics.
🤖 Robotics and IoT in Supply Chain Automation
This section delves into the role of robotics in automating manual labor and error-prone processes within supply chains, enhancing efficiency, consistency, and predictability. It also discusses how robotics captures data, which is crucial for supply chain management. The paragraph further explores the Internet of Things (IoT), which consolidates data from various touchpoints across the supply chain, providing real-time visibility. The importance of integration and interoperability is underscored to avoid siloed technology and to create a centralized dashboard for supply chain oversight.
🔗 The Importance of Integration and Interoperability
The paragraph discusses the necessity of integrating various technologies within supply chain management to harness the full potential of captured data. It mentions the risk of having siloed technologies and the need for a core platform that can tie together different systems for centralized visibility. Examples of interoperability technologies, such as Palantir and Snowflake, are provided, which consolidate data from multiple sources to offer unique insights and workflows.
💡 Artificial Intelligence in Supply Chain Optimization
Artificial intelligence (AI) is presented as a transformative technology for supply chains, capable of learning from and predicting future scenarios based on the vast amount of data generated. AI is highlighted for its ability to help managers understand risks and opportunities for optimizing supply chains amidst the complexity of global operations and various influencing factors such as macroeconomic trends and geopolitical events.
⛓ Blockchain for Secure Supply Chain Tracking
Blockchain technology is introduced as a means to track each step in the supply chain process securely, providing a unique record of the product's journey from start to finish. It is particularly beneficial for highly regulated industries, offering traceability in cases of recalls and ensuring compliance with regulatory requirements. The paragraph also mentions the applicability of blockchain in government contracting, where secure tracking of product origin is crucial.
📚 Conclusion and Call to Action
The final paragraph serves as a conclusion, summarizing the insights provided on emerging technologies in supply chain management. It includes a call to action for viewers to download the annual digital transformation report for more information on technology reviews and rankings, which can assist in identifying the best vendors for various technologies discussed throughout the script.
🤔 Technical Difficulties in Concluding the Script
The last part of the script appears to be an unintentional recording of the speaker struggling to conclude the video. It seems to be an outtake where the speaker is attempting to wrap up the video but is unable to do so smoothly, indicating a minor technical issue or a moment of hesitation during the recording process.
Mindmap
Keywords
💡Supply Chain Management
💡Digital Transformation
💡Supply Chain Software
💡Robotics
💡Internet of Things (IoT)
💡Interoperability
💡Integration Technology
💡Artificial Intelligence (AI)
💡Blockchain
💡Traceability
Highlights
Technology is transforming supply chain management, with emerging tech being crucial for digital transformations.
Eric Kimberling, CEO of Third Stage Consulting, discusses the importance of supply chain management in digital transformations.
Supply Chain Management (SCM) software is a mature technology that focuses on various aspects of supply chains, including warehouse management and logistics.
Standalone solutions for warehouse management, transportation, procurement, and shipping are part of the SCM tech evolution.
The annual digital transformation report by Third Stage Consulting provides independent software reviews and supply chain technology insights.
Robotics in supply chain management automate manual labor and error-prone processes, increasing efficiency and consistency.
Robotics also capture data within the supply chain, providing insights not previously available.
The Internet of Things (IoT) consolidates data from various touchpoints in the supply chain for better visibility and integration.
Interoperability and integration technologies, such as those from Palantir or Snowflake, are essential for tying together disparate systems in the supply chain.
Artificial Intelligence (AI) helps manage the complexity of supply chains by learning from captured data and predicting future scenarios.
Blockchain technology provides secure tracking and traceability within supply chains, particularly beneficial for regulated industries.
Blockchain enables supply chain managers to understand the process history and pinpoint issues or breakdowns.
Supply chain management is a core component of the digital transformation space, with technology playing a pivotal role.
The integration of emerging technologies in supply chains is crucial for achieving a centralized dashboard for visibility and control.
The digital transformation report offers insights into the best vendors for various supply chain technologies discussed in the video.
The potential of AI in supply chains includes understanding risks and optimizing operations through predictive analytics.
Blockchain's use in supply chains extends beyond cryptocurrencies, offering practical solutions for secure tracking and transparency.
Transcripts
technology is completely transforming
the way a Supply Chain management works
today but what exactly is this emerging
Tech that we should be aware of in
Supply chains that's what I want to talk
about here today
[Music]
my name is Eric Kimberling I'm the CEO
of third stage Consulting we're an
independent consulting firm that helps
clients throughout the world reach their
third stage of digital transformation
success and much of the work we do with
our client base involves Supply Chain
management when we're helping clients
through digital Transformations
oftentimes the core of what they're
changing is their supply chain and as
we've seen over the years technology is
changing changing very quickly there's a
lot of new emerging Technologies and
Supply chains are changing quite a bit
as well so what I want to do today is
talk about the emerging technology that
you should be most aware of and
cognizant of as you think about
potential supply chain and or digital
Transformations and for more information
about supply chain Technologies and
other emerging Tech that might be of
interest to you as an organization I
encourage you to download our annual
digital transformation report it's a
report we publish each year that
contains a number of independent
software reviews and rankings of supply
chain software as well as other types of
software like warehouse management Erp
systems financials Etc it also includes
a number of implementation best
practices tips and Lessons Learned so I
encourage you to download that free
download in the links in the description
field below
the most established and most mature of
the emerging technology that I'm going
to talk about here today is Supply Chain
management software there's a number of
Supply Chain management software vendors
like blue yonder and Manhattan
Associates that provide Supply Chain
Solutions that are focused on just
Supply chains this includes everything
from warehouse management to Logistics
to procurement and other parts of the
supply chain so you have these
established Supply Chain management
vendors that are one option but you also
have other supply chain vendors that
provide more targeted Solutions within
Supply Chain management so for example
you have Standalone Warehouse Management
Solutions you have stand-alone
transportation management systems
Standalone procurement systems
Standalone shipping all types of
different technologies that can really
go deep into one part of your supply
chain and by the way if you're looking
for more information about specific
vendors in each of these different
categories I'm talking about I encourage
you to download that digital
transformation report that I mentioned
earlier in the video which I've included
links to below but in general one of the
more fun fundamental technologies that
supply chain managers use to transform
their supply chains are these
off-the-shelf Supply Chain management
Solutions
robotics have been around for a long
time but they're just now really
starting to gain Traction in Steam in
Supply Chain management Robotics are a
way to automate some of the manual labor
and some of the error-prone processes
that were historically driven by humans
so you think about all the different
touch points that a raw material or
finished good has throughout a supply
chain beginning with the manufacturing
of the product you have robotics that
can automate the manufacturing process
when the finished products or the raw
materials are in the warehouse you have
robotics that can automatically manage
the pickpack and ship processes those
are just a couple examples of how
Robotics are changing the way supply
chain managers manage the overall supply
chain and it's not just robotics
themselves that are the game changers
which are big game changers they're
creating more efficiencies and more
consistency and predictability and scale
than humans can but robotics also have
the advantage of capturing data in the
supply chain I'm actually going to come
back to this point in a moment when I
talk about internet of things in a few
moments but Robotics are not just a way
to automate manual processes they're
also a way to capture data that we
typically hadn't had before robotics in
our supply chains
now when we look at all the steps that
happen in a process within Supply Chain
management you have a lot of data that's
being captured from the time it's a raw
material until it's received into a to a
warehouse until it hits the
manufacturing shop floor until it goes
back to the warehouse for storage until
it goes out on a truck out to the
customer
perhaps onto a ship to get shipped to
another port in another country back on
a truck to go to another Warehouse
ultimately to the customer there's a lot
of touch points there and it's hard to
track where exactly a raw material or
finished good is and that's where
internet of things can be extremely
valuable because now we have devices
throughout the supply chain that are
capturing data that allow us to have
real-time visibility in ways we didn't
before so for example I talked about
robotics a minute ago and how robotics
have the ability to capture information
about the status of raw materials and
finished goods whether it's in a
warehouse or on a shop floor you also
have other devices and other data points
throughout the supply chain you have
trucks that can be monitored with
devices you have handheld devices that
might be used to track inventory and
track the status of different supply
chain activities so we have hordes of
data that are being captured but now we
have to figure out what do we do with
that data and that's where Internet of
Things comes into play so Internet of
Things is a way to consolidate data and
to get and to give us better visibility
and integration of that data throughout
a supply chain
now with all these different
Technologies we've talked about so far
there's the risk that we have siled
technology that doesn't integrate and in
order for internet of things to work and
some of the benefits of Internet of
things which I'll come back to in a
moment we need to have integration
between these different systems so we
might have devices out in the field
capturing data we might have multiple
systems managing different parts of our
business but ultimately we need to
figure out how to tie this all together
so that we have a centralized dashboard
and centralized visibility into what's
happening in our supply chain and that's
where interoperability in integration
technology comes into play we need to
have that core platform that ties
together these different Technologies
and some examples of interoperability
types of Technologies would be vendors
such as palantir or snowflake those are
two vendors that really tie together and
consolidate data from multiple sources
and give you unique insights and
workflows based on those integration
points so we need to think about
interoperability in integration
Technologies in addition to some of the
other technology IDs I've talked about
when it comes to managing our supply
chains
now with all these different systems and
the integration of systems and data now
we have the ability to really think
about how we can make use of that data
in ways that we haven't been able to in
the past and that's where artificial
intelligence comes into play with the
complexity of today's Supply chains not
just in terms of the systems and
Technologies we've talked about but just
Global Supply chains in general they're
very complex a lot of moving Parts a lot
of different geographies we're operating
in you have macroeconomic trends that
can affect your supply chain you have
geopolitical and weather related
things that can affect a supply chain so
there's a lot of stuff we have to manage
understand anticipate and mitigate the
risk for and artificial intelligence can
be a great way to do this artificial
intelligence allows us to take all the
data that we're capturing throughout the
supply chain and now start to learn from
that data and start to predict and
analyze what might happen in the future
so that we as humans can take some of
those different scenarios and take some
of the outputs from artificial
intelligence and really have better
understanding of where the risks are and
where the opportunities are to optimize
our supply chains so really look for
artificial intelligence is a emerging
Tech that will completely transform
Supply chains now and in the future
[Music]
now the last emerging tech and supply
chain management that I'll talk about
here today is blockchain blockchain has
been around for a while and most of you
may think of cryptocurrency when you
think about blockchain and it certainly
is an underlying technology for
cryptocurrency but blockchain also has a
lot of practical use cases within Supply
Chain management blockchain can allow us
to track each step in the process and
sort of provide a unique stamp and
understanding of where the steps have
been where the breakdowns have been and
really understanding everything that
happened from the initial start of the
supply chain until the product reaches
the End customer and so blockchain is a
very secure way in a very unique way
that supply chain managers can start to
get a better handle on where things are
within the supply chain and blockchain
is particularly important and
particularly opportunistic when it comes
to highly regulated sorts of Supply
chains so if you're a food or beverage
manufacturer for example blockchain
technology is a great way to provide
traceability in case there's a recall
all so you can trace back to what the
raw material problem area was and you
know which finished products to recall
oftentimes if you're Contracting or
providing goods or services to
government entities you need to have a
very secure way of tracking how that
product was made and where the product
was made that's another way the
blockchain can help so blockchain
technology is another game changer
potentially for Supply chains now in the
future so I hope this has provided you
some insights and understanding of what
some of those emerging Technologies are
in Supply Chain management I encourage
you to download our annual digital
transformation report for more
information about digital
transformations in general but also more
importantly independent technology
agnostic software reviews and rankings
that will help you understand what some
of the best vendors are out there for
some of these different Technologies
we've talked about here today so I hope
you found this information useful and
hope you have a great day
[Music]
and Supply Chain management is a core
component of
oh no no way information space space
um let me start that over after the
intro and then I'll yeah my name is blah
blah blah make more meaning and divide
more yeah
I almost had it but not even close all
right wear a raw material and finished
good has flowed and where it
I'm just going in a circle here
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