The Future of Manufacturing
By Charlie Wood, CEO, Wiise The manufacturing and supply chain industry has undergone a massive change in the last two years due to the COVID-19 pandemic. Lockdowns and travel restrictions have caused immense disruption locally and globally but have also accelerated technology adoption in the sector. While global markets remain volatile, trade is starting to bounce back. There are exciting opportunities ahead for businesses that invest in the right processes and technologies for the new era of the supply chain. These three tech trends will be key: The rise of anywhere economy and asynchronous model Today’s supply chains are increasingly complex, involving an ever-wider range of parties across the globe. As we’ve seen with the pandemic, one problem affects the whole chain – but it’s not always initially clear where the bottleneck is or how to resolve it. If a factory in China can’t supply a particular component, can it be sourced elsewhere? Once every part of the supply chain gets connected digitally, companies will be able to get a real-time pulse of their business. Through intelligent ERP systems, they’ll know what stock is where and be able to track and divert shipments, with backup routes and providers to avoid any obstacles and outages. If there’s a sudden change in border restrictions or a shipping route is closed (e.g., the Suez Canal blocking in March 2021) the system will help calculate and re-route alternative options. Businesses will also look for more efficient ways to collaborate with customers, employees, and partners. With the rise of the asynchronous model, we will see the increase of shorter, “button-click”, in-app meetings like Slack’s “Start Huddle” to replace longer, scheduled meetings. Democratised IT is the new norm Businesses of any size can now access sophisticated platforms that leverage AI and machine learning. Businesses are “buying […]