WISER PERSPECTIVE

The year 2020 approaches with a promise, amidst a backdrop of innovation and transformation occurring at a speed that has never been witnessed before.

- RANGA POTHULA

We’re experiencing a digital revolution that is changing the way we live, work and interact with one another. The power of information is just beginning to blossom as more of our decisions are based on data, and the different use cases for artificial intelligence that are delivering significant values. Meanwhile, global movements to protect the planet and operate responsibly continue to grow in importance, and an undercurrent of de-globalization continues to change the way countries and companies interact with each other. Here is a look at some of the emerging trends and themes that we can expect to shape the year 2020, moving forward.

SUPPLY CHAIN’S DIGITAL TWIN

Modern supply chain companies have to be prompt and prepared for whatever comes their way. However, a lot of them still don’t have access to real-time data and responsive planning systems required for efficient planning and meeting growing customer demands. Hence, the concept of the digital twin is rapidly gaining traction in supply chain management, globally as well as in India. “The digital supply chain twin is a digital representation of the physical (often multi-enterprise) supply chain. It is a dynamic, real-time, and time-phased representation of the various associations between the data objects that ultimately make up how the physical supply chain operates.” A digital twin allows companies to realize the theoretical ability to sense, shape, and respond to customer demand variability, in real-time. By leveraging the Internet of Things (IoT) technology and creating a digital mirror of various supply chain operations, companies can gain the visibility they need to transform their business into an intelligent enterprise.

ELIMINATING EMPTY MILES