Top Emerging Technologies in Supply Chain Management, Procurement, and Logistics

Summary

In 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

00:00

🚀 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.

05:01

🤖 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.

10:04

🔗 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.

Keywords

💡Supply Chain Management

Supply Chain Management (SCM) is the coordination and management of activities involved in the production and delivery of a product, from raw materials to the end consumer. It encompasses sourcing, production, inventory, transportation, and customer service. In the video, SCM is the central theme, with the speaker discussing how technology is transforming its practices, making it more efficient and data-driven.

💡Digital Transformation

Digital transformation refers to the integration of digital technology into all areas of a business, fundamentally changing how an organization operates and delivers value to customers. The video emphasizes how digital transformation is crucial for supply chains, with Eric Kimberling's company, Third Stage Consulting, focusing on helping clients achieve success in this area.

💡Supply Chain Software

Supply Chain Software is a category of programs designed to streamline and optimize various aspects of supply chain operations, from warehouse management to logistics and procurement. The script mentions established vendors like Blue Yonder and Manhattan Associates, which provide comprehensive solutions focused on supply chains.

💡Robotics

Robotics involves the use of robots to perform tasks, often in environments that are hazardous or require high precision. In the context of the video, robotics is highlighted as a game-changer in SCM, automating manual labor and error-prone processes, and capturing data within the supply chain, which was previously managed by humans.

💡Internet of Things (IoT)

The Internet of Things (IoT) refers to the network of physical devices, vehicles, and other items embedded with sensors, software, and connectivity, enabling them to collect and exchange data. The script explains how IoT devices throughout the supply chain capture data, providing real-time visibility and enhancing the integration of information.

💡Interoperability

Interoperability is the ability of different systems and organizations to exchange and make use of information. In the video, the speaker discusses the importance of having a centralized dashboard with visibility into the supply chain, which requires the integration of various technologies and data sources for a cohesive operation.

💡Integration Technology

Integration Technology refers to the tools and methods used to combine different systems and applications into a unified whole, allowing for seamless data flow and operation. The script mentions vendors like Palantir or Snowflake that specialize in consolidating data from multiple sources, providing unique insights and workflows.

💡Artificial Intelligence (AI)

Artificial Intelligence (AI) is the simulation of human intelligence in machines that are programmed to think like humans and mimic their actions. In the video, AI is presented as a key technology for managing the complexity of supply chains, allowing for the analysis and prediction of future scenarios to optimize operations.

💡Blockchain

Blockchain is a distributed ledger technology that provides a secure and transparent way to record transactions. The video explains how blockchain can be used in supply chain management to track each step in the process, offering traceability and security, which is particularly valuable in highly regulated industries.

💡Traceability

Traceability is the ability to track the history, location, or application of an item or substance. In the context of supply chains, as discussed in the video, traceability is crucial for ensuring product safety, quality, and regulatory compliance, especially in cases of recalls or when dealing with government entities.

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

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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