SOFTWARE OUTSOURCING COMPANY

The trend of digitalization and tech-reliance in freight shows no signs of stopping. Technology allows freight forwarders to optimize their coordination and maximize control, and it is clear that the future of logistics will belong to the companies who can keep up with the times.

Updated on December 30, 2021

Increased customer demand and booming e-Commerce make business owners introduce warehouse automation. It helps to strengthen labor management and gain more customers satisfaction.

Data-driven and automated warehouse processes contribute to an overall supply chain efficiency nowadays due to the cost reduction for the company and meeting the needs of the customers.

In accordance with G2.com, business software, and services reviews platform, 2022 will start with 620 000 robots and AGV’s shipped worldwide in comparison with only 40 000 in 2016, and with more than 40% of companies ready to invest in shuttle systems for warehouse automation. “One-day deliver” standard launched by Amazon is no longer an outstanding performance, but a “must-have”.

Jeff Sierra, a Senior Coaching Advisor in “Mind Fuel”, said in the “Eight Experts Thoughts About Warehouse Automation”: “The misconception about technology’s role is presented nowadays in many businesses. They think warehouse automation is to do all the processes and all the thinking. One needs to understand the nature of automation and develop well-defined surrounding processes to maximize ROI”.

In summer 2021, Gartner outlined top supply chain technologies promising to have a positive and valuable impact on the industry and overall performance while also getting people engaged in it. And one of the current trends is the necessity to combine existing solutions to improve ROI and get higher profits.

SAS CTO and COO Oliver Schabenberger in his interview for IT Brief stated: “Many companies in BFIS (banking and finance sector) are struggling to become more data-driven. It can be disrupting, when it comes to deep digital transformation. But one needs to understand data interpreting, obtain methods to move and apply data, and models to gain valuable business insights. The company has to update data models continuously. And all of a sudden they become really data-driven with many benefits performed.”

In most enterprises, supply chains have evolved over the decades and become more intricate than ever. Each one can potentially produce large amounts of data from various sources available and all types of formats.

Companies have to network with various suppliers, partners, and other third parties to properly run supply chain management (SCM). And since there is a lot of data generated across the entire SC, leaders also need to extract intelligence out of it. Today it is possible thanks to affordable computing power available on a massive scale. In other words, combining Big Data and advanced analytics allows for building different instruments to get essential insights and transform information into business intelligence (BI).

In a post-coronavirus-world, С-level executives seek new ways to boost their internal operations to drive the bottom line. Almost 80% of businesses with highly efficient supply chains generate more revenues than the average ones. What’s the key to their success?

Forward-thinking companies take advantage of integrated supply chain solutions and digitalization by adopting innovative technologies to upgrade the traditional supply chain management system (SCMS) or even completely replace older technologies. Let’s find out what supply chain integration is and how to disrupt the existing logistics effectively.

The financial services market has seen radical technology-led changes over the past few years. Many leaders look to their IT departments to improve performance and promote game-changing innovation – while somehow reducing costs and, at the same time,  continuing to use legacy systems.

“To succeed in this rapidly changing landscape, IT executives will need to agree with the rest of the management team on the posture they wish to adopt. Will they try to be industry leaders, fast followers, or will they just react? Whichever direction they choose, they will need to devise a clear strategy to move forward.” FS Tech 2020 and Beyond: Embracing disruption

Meantime, fintech startups are disrupting the established markets, leading with user-centric solutions developed from scratch and unencumbered by legacy platforms.

Customers have certain expectations and are now necessitating better services, seamless experiences regardless of channel, and more value for their money. Also, regulators demand more from the industry and have started to adopt new technologies that will transform their ability to gather and analyze data. And the pace of drastic change is not even at the peak.

There is no doubt that technology is affecting financial services in multiple ways. The PWC report suggests ten key influencers that IT executives need to address while strategic planning for 2020 and beyond.

Each of these drivers is likely to change financial services companies and their management teams in far-reaching ways. And while each can have a disproportionately strong effect on a given country, customer set, or industry sector, they all present opportunities for the thinking executive to go ahead.

Knowing a robotics era is coming, for example, you have a choice: to harness the innovation, or to see others benefit from a global shift. The section below sets up challenges around these ten influencers: to know them, get ready for them, and see how to employ them to get a competitive advantage.

Supply chain management (SCM) is a wide range of processes required to plan, manage, and execute a product’s flow from raw materials to the creation of a final product and its distribution in the most cost-effective way.

SCM incorporates a set of actions needed to streamline the flow of goods and services, information, and costs by covering these stages: planning, sourcing, production, inventory management, and logistics. Companies use both business supply chain strategy and management software to create a competitive advantage.

Supply chain management is a complex undertaking where each participant has to put forth much effort—starting with suppliers to manufacturers and beyond—for it to run seamlessly. Because of this, powerful SCM also requires change management, cooperation, and risk management to create alignment and interaction between all the partners.

Many challenges plague the supply chain industry. A few supply chain data sources reveal that many professionals are having problems with improving their operational visibility (21.1%) and meeting the changing customer demands (19.7%). This is in addition to being constrained by cost increases and the increasingly competitive business landscape.

Now might be the time for businesses to start rolling out data-driven processes to improve their overall supply chain.

The bids are high, so both businesses and software development providers need to carefully plan their interaction. We at Innovecs have collected best practices for business owners and tech leads so that they can team up with IT vendors with ease and complete projects successfully. Here is what you will discover inside:

Machine learning (ML) is called a new logistic trend for a reason. It has a wide range of capacities to address major supply chain issues. The technology is able to revive inefficient data handling methods used by supply chain management systems and reduce business costs. ML can automate processes that used to require a lot of analytical work, making the technology a perfect match for predictive analytics.