Supply Chain 2020 Vision – Part 3: The Future is Now

In this third part of our look into the supply chain trends that will shape the industry next year, experts share how organizations can always be prepared for what lies ahead. Check out parts 1 and 2 for more of their predictions.

Ahead of the Game

The year ahead will be filled with opportunities and challenges for supply chains, and predictions 365 days from now may look very different than the expert outlooks presented above. Still, there are some reliable and unwavering principles organizations can keep in mind as they develop strategies and keep up with trends.

“People have to stay educated, open to listening to new trends and ideas, spotting new trends and directions they should be going,” says Rosemary Coates, Executive Director of Reshoring Institute. “It’s paying attention, reading stuff, attending conferences, educating everybody in the supply chain.”

Lynn Smith, Vice President of Supply Chain Management at Katalyst Technologies, agrees, suggesting attending trade shows such as next year’s MODEX in Atlanta and ProMat in Chicago in 2021. Reading industry publications will also improve awareness. “There’s a lot of good trades out there that keep you abreast of what’s going on within the execution market, especially what type of new equipment becomes available,” he says.

2020 and Beyond

“Your focus should be on where you are versus where you need to be,” says Davielle Panzullo, Senior Logistics Manager at Verizon Wireless. “As you continuously hit your target, [determine] how to forecast for the next target, and where to identify the shortfalls.” She also emphasizes making sure that those at the top of the chain are knowledgeable not just in managing a supply chain but in leading their employees. “They’ve got to be agile in technology, but having technology is only part of it. The bigger part of it is training and teaching the workers what their value is and really developing a culture where they are engaged.”

For Stephen Hopper, founder of Atlanta-based Inviscid Consulting, one of the biggest keys to success is remaining forward-thinking even in the face of economic challenges. “It seems to me that every time we hit a recession, businesses slam on the brakes and it becomes not about advancing the ball, but about playing defense and just trying to stay where they are and be profitable, rather than trying to push the envelope and become much more competitive,” he says. “The CEO and the CFO at the end of the day, they’re worried about the bottom line…realistically and conservatively, what is going to bring them the best bang for their buck?”

Taking full advantage of data, utilizing technology, carefully analyzing manufacturing and distribution strategies, and rethinking old, outdated practices will help companies find the best bang for their buck and the most efficient methods of operation. “You don’t start with a solution, you start with a problem, and then you look for the right solution for that problem,” Hopper says. “But the bottom line is the solutions for that problem have evolved, and they’ve gotten better, and they’ve gotten cheaper, and they can be implemented much faster than they used to be.”

Katalyst Can Help

Does your organization need help finding these solutions? The supply chain experts at Katalyst are ready to help. Whether you are looking for innovative supply chain software, such as our Celero WMS, schedule a consultation to make sure you stay competitive and prepared for 2020 and beyond.

Source Link - https://katalysttech.com/blog/supply-chain-2020-vision-part-3-the-future-is-now/