Top 10 supply chain and warehousing trends in 2016
In every industry, there are certain trends and patterns that keep changing every year. For the year 2016, there are some special trends as well. The complete industry has become more efficient and inclined to technology. We can also predict the future of this industry through the trends that we see in the current year. These trends comply to an economic as well as technological perspective. Let’s see the Top 10 supply chain and warehousing trends for the year 2016.
Strategies have become Omni channel
Omni has been derived from the word Omnis that means universal or all. So, Omni Channel means a multi channel approach to sales which aims to provide the customers with a seamless shopping experience irrespective of where the customer is shopping from. Meaning, whether the customer is shopping from a brick and mortar store, a mobile application or a desktop website, the experience he gets ought to be flawless. So, in an Omni channel environment, the customer gets a unified customer experience and it is also easier to manage them. All the strategies that the companies are applying comply to being Omni channel as it is the approach that they are taking towards the market. An Omni channel strategy shall ensure proper inventory optimization, product availability and timely fulfillment.
Reduction in labor to cut costs
This is a trend that is growing in all the industries. Technology has become more prominent and it is leading to reduction in labor. It also facilitates cutting of costs and which in turn makes the final product available to the consumer at a lower price. This trend shall continue to grow in the foreseeable future until technology has the upper hand. Minimum wages keep increasing due to new regulations and hence, lower the number of labor, lower will be the cost of handling and managing them.
Smartphones dominate big time
Smartphones are like portable computers in our pockets. They have the power to handle multiple vital tasks simultaneously. The shipping and warehousing industry is moving towards smartphone applications instead of traditional tools that are outdated. This was a much needed change that we can see happening this year. It can also help track individual performance metrics and provide solutions to complicated situations.
Big data analytics have helped in planning and optimization of the inventory
Big data analytics has become an important resource to plan and optimize the complete inventory in the warehouse. With the help of big data, one can create lean and balanced supply chain that will be highly efficient. It also helps in improving workflow and ensure better floor space utilization which is quite important as well. The technology of big data analytics is improving and we will hopefully see big changes in it in the coming years.
Electronic Data Interchange is still a growing trend
More and more people are subscribing to Electronic Data Interchange and thus it continues to be a growing trend. In the past, many companies didn’t use EDI and they did face consequences. Most of the companies are now resorting to EDI as it is difficult to exist without it. It will also be a huge trend in the future and many companies will start depending on it.
Security of the data has become important
Security is of prime importance no matter which industry it is. Top notch organizations have made their data security quite strong so that no malpractices happen. Data plays a huge role in supply chain and warehousing management thus its security is of great importance as well. Companies have also introduced new levels of data encryption for the same.
Traceability is on the rise
FDA and government regulations have become stricter. In the pharmaceutical industry too several policies and regulations are enforced and this trend will go on for several years to follow. There thus needs to be perfect traceability of where the product exactly is on real time basis.
Collaboration is influential
Organizations believe that collaboration and working together will benefit both the parties and it will be a win win situation for all. Due to collaboration, efficiency improves in a significant way. The systems will become fully integrated which will also help in reducing the overall time and costs. This trend is just getting started and hopefully with more knowledge of it, companies will start adopting it.
Cloud infrastructure is gaining importance
Cloud computing has been one of the best innovations in the recent times. It facilitates real time syncing of all the data to everyone involved. Even in the supply chain and warehousing industry, cloud infrastructure is getting more importance compared to the previous years. Many large and small companies have started using it for the benefits it provides.
Complexity is increasing
Even though big data analytics is solving a substantial problem, the levels of complexity in the supply chain and warehousing industry is increasing rapidly. Due to this, companies have to become more creative and make each and every process understandable to the people working there. Only when everyone can understand the process without any hassle, the complexity will be solved. This trend will most probably keep growing in the near future.
These are the top 10 trends that have been noted in the supply chain and warehousing. In case, there is anything else that you think is more important than what is listed here, do let us know in the comment box below.