It’s been more than a decade since the idea of cryptocurrency sprung onto the scene around the world. Bitcoin debuted in 2009 as the first decentralized version of cryptocurrency, and 11 years later it’s highly debatable if it is the future of finance or just a different way for people to invest their money. Considering […]
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In this blog we look at the Internet of Things (IoT) and its profound impact on supply chain management. While the IoT may not attract much attention from the average person, it is a revolutionary tool for those involved in supply chains. The IoT is something of a little observer on your product’s journey, allowing businesses to monitor warehouse conditions, track delivery progress and locate goods efficiently. There are an estimated 31 billion IoT devices (expected to be 75 billion by 2025). These devices provide real-time insights that can transform the way companies manage their supply chains.
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In this blog we look at the potential of AI in the supply chain. Despite concerns about job displacement, the application of AI in this industry increases efficiency and minimises errors. Machine learning (ML), a subset of AI, quickly analyses vast data sets, identifies patterns and provides rapid insights. The value of AI is in predicting production needs, optimising supplier performance and reducing freight costs, among other things. It also helps automate warehousing and inspection. The impact of AI is far-reaching, revolutionising supply chain operations and insights through transformative tools that complement human decision-making.
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As a globally recognised supply chain consultancy, Kaleidoscope International is dedicated to providing bespoke supply chain solutions and training to businesses of all scales – across many industries.
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