In Algorithms We Trust

Supply Chain Management Must Take Recourse To Advanced Technologies If It Needs To Keep Customers Satisfied.

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SUPPLY CHAIN IS A WORD THAT IS OFTEN talked about frequently. But few understand its management. In manufacturing, it comprises one of the most critical functions. While an efficient supply chain can catapult a company to new heights, an inefficient one can do the exact opposite. Examples of efficient supply chains are the reasons why e-tailers like Amazon and Flipkart are so successful. They first got the supply chain right before servicing clients.

Today, there are plenty of software available for a smooth supply chain. Right from procurement orders to final delivery, the software enables the manufacturer to track every path of the goods. Emergence of new models of business are also seeing exponential growth.

Bhanwar Lal Bishnoi, head, embedded design & development centre, L&T Electrical & Automation, says, “Technology today offers autonomous robots, RFID, software analytics, and many more. If one were to deploy these smartly, rest assured one can solve a lot of their problems.”

For example, it’s possible for a manufacturer to anticipate demand through historic data. This may be seasonal, or more ad hoc – based on predicted weather conditions, for instance. With the right systems in place, it’s possible to identify if you have sufficient inventory to meet the expected rise in demands. And if not, systems could automatically start adjusting orders with suppliers to source the raw materials necessary to fulfil anticipated future demand.

Radio Frequency Identification (RFID) chips, barcodes and scanners are vital pieces of equipment that can provide innumerable benefits to business. For example, RFID chips or barcodes can be placed on every product, which gives your company a way to easily track inventory. Paired with RFID technology, cloud-based computerised shipping and tracking further simplifies the supply process and can dramatically reduce shipping errors.