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.