In a world that is ever expanding and ever changing, businesses are forced into find new and innovative ways to take control of their supply chains. Whilst simple supply chains were once enough to cope with customer demand, erratic changes in the landscape require more sophisticated concepts.
Trends in supply chain management are evolving all the time and as new ideas emerge, so do new issues and hurdles for companys.
Below are three of the newest and most important supply chain trends that are likely to shape the futures of businesses in 2016.
Supply chains with higher complexity
One of the biggest and most wide ranging new trends in supply chains is the push for a more complex and fluid approach. Due to an increase in global trading, the need for better interconnected supply chains has sky rocketed. Unfortunately, this has also led to the market becoming more erratic and unmanageable, forcing many businesses to make poor forecasting mistakes. Many businesses have opted to simply increase the amount of goods within their inventories but this often leads to high amounts of stagnant stock and an expensive inventory cost they simple cannot sustain.
Whilst accurately predicating future sales is almost impossible, businesses can remodel their supply chains with the help of a specialist, so that each sector can better cope with inconsistent customer habits.
Fighting risks on a global level
Another supply chain trend that has businesses talking in recent months is the move to globalised supply chains. As many businesses branch out overseas, owners and managers have come to realise the importance of things such as strict calendar planning, to improve the fluidity of their supply chains.
Careful consideration of timings, currencies and local market issues are all important factors with this new global trend and shed light on the importance of reinventing and restructuring your supply chain. If your company is going global, your approach to your supply chain should be global too.
More and more business owners note a sustainable supply chain as one of their most important goals in the years ahead. Whilst more companies look for cost effective ways to run their business, the line between what is ethical and sustainable and what is not becomes blurred. This means that it is important for businesses, more now than ever, to find easier and quicker ways to determine the origin of both goods and labour.
For many, sustainability also comes in the form of lowering emissions throughout the business. However, this can unfortunately throw up new issues such as the possibility of a much slower and less effective supply chain.
With new trends in supply chain management comes new issues to tackle. However, when working together with a specialist, any size company can move forward with their business without having to take a step back.