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May 03, 2018 / by Charlotte de Brabandt
Supply Chain of the FutureWhat is the first thing that comes to your mind when you read supply chain of the future? Is it blockchain, digital technologies, AI, humanoid robots, cognitive computing such as machine learning or autonomous intelligent systems? Is it Sophia - who recently became the first robot recognized with a citizenship in Saudi Arabia?
Machines, software, heartless hardware are all around us.
In my opinion, we are living in a time of amazing progress with digital technologies—those that have computer hardware, software and networks at their core. The transformations brought about by digital technology will be greatly beneficial ones, they’re allowing us to overcome many limitations rapidly and to open new frontiers with unprecedented speed. Quick and astonishing digitalization is likely to bring economic rather than environmental disruption, stemming from the fact that as computers get more powerful, companies have less need for their work force. Technological progress is going to leave behind some people, perhaps even a lot of people, as it races ahead.
Everyone is questioning the future, what might the professions of the future be, how will it affect, for instance, procurement – the area that I work in. What role will technologies have, how will it impact the working life and labor market? The speed of automation has increased in the advent of driverless cars, pilotless drones and automated retail systems like ATMs, restaurants, kiosks and self-service checkouts. And who knows maybe we will soon be able to pay with bitcoins via blockchain technology. I believe, these developments emphasize the emergence of autonomous intelligent systems taking the form of humanoid robots.
The technological transition is becoming one of the most valuable commodities on the planet and every country should have or need to have a strategy around intelligent systems. In fact, I quote Web summit 20171 that intelligent systems are truly the new oil. About how oil has really transformed the 20th century. Technology is going to transform the future.
Humanoid robots are driven by the fuel of autonomous intelligent systems. We have gone through these transformations before and every time we are going through those transformations, I think about what’s going to change, what’s going to happen, what’s going to happen to what we know?
As GEP2 stated: `Supply chain is still an untouched territory of the future developments, but there is a great future in the field of supply management and how we will interact with new technologies and innovations ahead of us. I strongly believe IoT (Internet of Things) will change the future of supply chain drastically. Gartner predicts, that by 2020 more than 50% of major business processes will incorporate some form of IoT.
How I see supply management evolve in the future, as GEP mentioned IoT will disrupt supply chain and take it to a whole new level...
Anyone that has experienced a spend management solution rollout will tell you that the first unveiling is a watershed moment. In some cases, the company is transitioning from multiple data sources to one, and, in others, it is making the huge leap from department-owned spreadsheets to a consolidated online spend management platform. The value of seeing all of the company’s spend data together — categorized by supplier, buyer, date, and category etc. — being updated in near real-time is enormous. It is well worth the effort required to bring enterprise-wide spend analysis online.
Valley Cottage, NY -- (SBWIRE) -- 08/18/2017 -- The procurement industry is growing rapidly with the increasing needs of an organization. To survive and sustain in this intensely competitive market, vendors are focusing on improving their delivery models with technology. The process or the action to acquire goods and services is known as procurement.
Procurement software is a computer program helps in generating a purchase order, executing the ordering process online, and matching invoices to materials received, and paying all bills electronically. It helps in reducing external costs, process efficiencies, spending controls, increases productivity and generating electronic requests for information (e-RFI), requests for proposal (e-RFP) and requests for quotation (e-RFQ). Procurement software including E-procurement reduces the overall procurement life cycle.