Top supply chain trends in 2024

When it comes to supply chains, some can be incredibly complex whilst others are fairly straightforward. What are the top supply chain trends that are likely to be seen over the remainder of this year?

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Increased use of AI

The use of artificial intelligence (AI) to streamline and improve supply chains is an ongoing trend that is likely to continue for some time. AI forecasting can overcome demand-supply mismatches, while AI-based algorithms can be used to control automated goods retrieval in warehouses. Additionally, AI-powered chatbots are increasingly being used to improve customer experiences.

The Internet of Things

The Internet of Things (IoT) continues to expand, with more and more devices connected with each other and to smart/intelligent systems.

When it comes to supply chains, IoT-enabled asset tracking can help with complex supply chains by monitoring where goods are at various stages/times. This means each entity involved in the chain knows when to expect goods and can plan/prepare accordingly. Tracking in this way also helps to reduce paperwork, as it is done digitally.

IoT devices can also be used to monitor factors such as temperature and humidity inside warehouses. This can be useful when goods such as chemicals need to be stored in certain conditions.

Tapping machines

Tapping machines are a popular option across various industries, including automotive, aerospace, construction, valve manufacturing, and metalworking. They are capable of much greater efficiency, precision and consistency than manual tapping. There are lots of companies that specialise in this field, some of which – such as – have useful online resources.

Focus on flexibility

A flexible supply chain can respond better to rapid/short-term changes in market demand. It can adjust stock levels, change production/transport capacity, and provide agility. Flexibility can improve overall competitiveness and efficiency.

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Hi, I am Donald Chowdhury; I am an entrepreneur, father, mentor and adventurer passionate about life.