Cold chain
In 2020, we saw the race for a vaccine. This year, the focus is on its distribution worldwide.
Not only will the cold chain industry be expected to support this huge and new demand, but it will also have to continue moving other essential supplies that also rely on it, such as blood; cough and cold medicine; and other vaccines.
5G
As the demand for transmitting and collecting real-time information increases, we have seen the acceleration of the development and spread of 5G network to support the internet of things.
We need sensors to measure and a fast network to transmit this information to systems that will track transportation conditions—because any delays can compromise the quality of temperature-sensitive products.
Beyond vaccine distributions, as some parts of the world start relaxing quarantine measures, allowing visitors in, and hosting events, such as the 2021 Tokyo Olympic games, we need a fast network to support a similar system to observe and track the states of people coming in and out of high-volume areas.
Supply Chain as a Service (SCaaS)
Last year we saw even more companies in supply chain innovating to get through the new and unexpected challenges. Some branched out to cut losses while others chose to improve their existing operations.
Regardless of the path taken, SCaaS have been equipping them with more intel and confidence to do so.
For instance, taxi providers that face low demands are starting to offer additional services over non-peak hours. With configurable routing technologies, they are able to remain competitive while branching out through optimized routes. Similarly, companies with slow and manual tracking methods are becoming more open to trying out track-and-trace software that makes their processes more transparent.
Sustainability
Despite the ongoing debates on the affordability of reducing carbon emissions in supply chain, there has also been incredible pressure on continuing the commitment to reduce carbon emissions in the supply chain in recent years.
We have seen a few large players such as DHL taking the lead through the continued use of green technology, such as sustainable fuels and vehicles.
In the meantime, tech supply chain companies have been developing at an incredibly fast pace to meet this goal.
Blockchain
Essentially a technology that enables the distribution of digital information without compromising its integrity, blockchain enables communication across different intermediaries in a secure and immediate way.
Given the life-and-death nature of the vaccines and cold-chain distribution, we see an increasing need for more accountability and end-to-end network visibility.
Blockchain technology will surely play a huge role in making sure that information gets transmitted reliably and to the right people.
AI and machine learning
Given the numerous unexpected changes arising from the pandemic, many have been turning towards data-driven ways of operating their businesses through AI and machine learning.
With capabilities to generate possible outcomes given hypothetical scenarios, companies looking to test waters with new approaches have been finding this technology very appealing.
Additionally, as businesses are also looking to prepare for the future, AI and machine learning offer a reliable and predictive model to base their plans on.
Omnichannel
Social distancing has accelerated the growth of online shopping.
As more consumers are shopping on their mobile phones and computers, we are seeing more pressure on retail companies to integrate their online and brick-and-mortar orders into a single unified platform for a more transparent operation.
Retailers are under increasing pressure to provide accurate information fast to retain customers since online consumers often prefer to have real-time information before buying products, such as product availability and delivery dates.
How can you go about preparing for these trends? Talk to us by booking a demo, and we will guide you through the process.
