What are recent trends in supply chain management?

10 Trends Shaping the Future of Supply Chain Management

• Artificial Intelligence and Automation.
• Increased Focus on Sustainability.
• Customization.
• The Internet of Things.
• Digitization.
• Strengthened Relationships.
• Risk Management and Resiliency.
• Increased Visibility.

Why has supply chain management recently become more important to firms?

SCM increases profit leverage since supply chain managers help control and reduce the cost of the supply chain, which provides drastic increases in firm profits. Supply chain managers also decrease the use of plants, warehouses, and transportation vehicles within the chain so that fixed assets can be reduced.

What are the three most important technologies for supply chain management over the next decade?

Big data, cloud computing, artificial intelligence (AI), robotic process automation (RPA) and the internet of things (IoT) will help procurement leaders, contractors and supply chain managers meet future demand.

How will supply chain change in the future?

Through 2024, 50\% of supply chain organizations will invest in applications that support artificial intelligence and advanced analytics capabilities. The COVID-19 pandemic amplified the need for supply chain organizations to seek tools that help them make better and more informed decisions faster.

How has technology changed the supply chain?

Technological advancements have made it extremely easy to gather and analyze key pieces of data. Data surrounding shipping times, cargo weight, weather patterns, traffic routes, and more can lead to greater transparency, optimized routes, greater reliability and automated supply chains.

What are the future challenges for supply chain management?

We are seeing five macro trends that are impacting supply chains in Ireland:

• COVID-19 and its impact on the local and global economy.
• The rise of economic nationalism and the future relationship with China.
• Brexit.
• A focus on sustainability.
• The increasing significance of inequality.

How technologies will change supply chain in the future?

Industry 4.0 technologies will play a valuable role in the creation of smarter, better-connected supply chain networks, offering greater supply chain transparency, real-time tracking, better forecasting, critical thinking improved judgement, a reduction of inefficiencies, and an increased automation of repetitive tasks …