Some of the newer technologies available for reducing risk and increasing profits in Supply Chain Management (SCM)
Recently we considered some practical tips and tricks for reducing risks in the supply chain process as recommended by Supply Chain Attorney, Sarah Rathke and Management Consultant, Rosemary Coates. There are many technologies to assist your supply chain management processes, including those for customer requirement processing, purchase order processing, inventory management, warehouse management and sourcing. These can also assist in reducing risks.
Many companies are embracing these technologies, while others are a little slower to move from their outdated systems using primitive forms of technology such as phone, fax and email to communicate through their increasingly complex supply chains. However, supply chains are becoming increasingly complex and full of unpredictable risks for several reasons, including that supply chains are more and more global. This means that it’s becoming more important than ever for supply chain practices to embrace technology.
In addition to the types of technology listed above for supply chain management there are also some that are perhaps lesser known and have not yet been fully leveraged. These include:
- Technologies for intelligence gathering for information about things that may be going on in locations relevant to your supply chain so this information can be leveraged when making strategic business decisions;
- Technologies for automatically re-routing your supply chain where unexpected disruptions occur so that potential losses can be avoided; and
- Technologies or online education companies that assist with compliance for international companies so that nothing is missed in this ever increasingly complex sphere of international regulation.
Some companies that do the above include:
- Digital Globe (https://www.digitalglobe.com/) is a global provider of commercial high-resolution Earth imagery products and services which can assist supply chain professionals to search, locate and visualise their entire supply chain and other locally relevant information to identify possible risks and plan strategically for maximum efficiencies and profit. Other similar companies include Bing Maps for enterprise (http://www.microsoft.com/maps/) and Orbital Insights (http://orbitalinsight.com/);
- Resilience 360 (http://ow.ly/10sRgA) is a new product created by global logistics provider DHL. It assesses your supply chain and then designs re-routing options for disruptions that may occur. It provides you with information about things that may be happening in your supply chain and alerts you to possible risks.
- Mir3 Other companies provide services for communicating incidents to multiple persons in large international supply chains as soon as possible such as Mir3 (http://www.mir3.com/);
- Cerico Solutions (http://www.cericosolutions.com/) is a company that assists international organizations in fulfilling their compliance options by providing eLearning tools and template policies for several jurisdictions and updating them as required i.e. when laws and regulations are amended.*
What are your thoughts? What are the other pain points in your supply chain for which you would like technological solutions?
* According to an article in Supply Chain Brain, “How Technology Can Ease Supply Chain Management and Mitigate Risk,” by Maz Ghorbanm the Vice President at Mir3, a well-respected company recently got into a lot of trouble for failing to comply with regulations which meant their product, night vision goggles, eventually landed in the hands of terrorists. You can find this article here - http://ow.ly/10sUlm