The Future of Supply Chain

Article - Operations
By Michelle Brown|9th December 2022

What a difference a year makes. Last year, around this time, our television screens were dominated by images of hundreds of cargo ships backed up at the Port of Long Beach and Los Angeles unable to unload their cargos. The unprecedented ongoing disruption in the global supply chain caused by the Covid-19 pandemic had many people fearing they wouldn’t be able to get that popular toy for their child for Christmas, their favorite foods, or a new car. But while the logjams in the supply chain have eased up tremendously compared to 2021, things are far from back to normal, and may never be again. The future of supply chain is ever evolving. In fact, research by  KPMG found “the pace of change is accelerating”.  To future proof their supply chains experts say businesses need to invest heavily in technology. 

Leverage Technology to Future-Proof your Supply Chain

On a recent GDS Supply Chain summit, Torsten Pilz, Chief Supply Chain Officer (CSCO) at Honeywell said enterprises should leverage data to improve their supply chain. “You have huge data storage capabilities; you have unbelievable data analytics capabilities.” A study by Gartner found by 2026, more than 75% of commercial supply chain management application vendors will deliver embedded advanced analytics (AA), artificial Intelligence (AI) and data science. The use of digital technologies such as AI, ML the Internet of Things (IoT) and blockchain are revolutionizing supply chains by enabling real-time supply chain visibility and increased supply chain efficiency. AI and ML can be used to improve supply chain forecasting, automate processes, and reduce labor costs, while IoT connected devices provide visibility into inventory levels and supply chain operations.  

These advances in supply chain technologies are allowing businesses to stay ahead of the competition and become more efficient, secure, and profitable.  In addition to leveraging technology, businesses must stay agile in a competitive market. 

Stay Agile

Honeywell’s CSCO Torsten Pilz, told attendees at the summit that in these uncertain times they need to be agile. “What we do is we just accept that we don’t actually know what’s going to come down the path the next couple of months. We have a very well-oiled mechanism inside the company to be able to react to it.”  According to Pilz, having a  good supply chain team in place is also key. “In a world of supply chain constraints, actually they need a really great supply chain team. That ensures that people get the means, capital, and investments they need to prepare for this.” Furthermore, supply chain leaders must consider how emerging geopolitical situations, such as the war in Ukraine may impact their operations.  

The Future

The supply chain of tomorrow is a dynamic, interconnected ecosystem, where emerging technologies drive efficiency and sustainability. By investing in supply chain technology, remaining agile and staying informed on global trends, businesses can ensure their supply chain remains strong now and into the future.  

GDS Summits are tailored 3-day virtual event conferences that bring together business leaders and solution providers to accelerate sales cycles, industry conversations and outcomes. Regarding the Supply Chain Insight Summits 82% of Delegates said the overall experience of Digital Summit they attended was either Above Average or Excellent and 75% of Solution Providers said they would be interested ​in sponsoring future events.​  

For more, click here to hear from attendees on how GDS has helped them to achieve their business outcomes.  

Continue the debate at GDS’ Supply Chain Insight Summits where we bring together senior supply chain executives who are actively seeking to share, learn, engage, and find the best solutions.  

Apply to Attend 

Back to insights

Related content

Operations
Podcast

Data and sustainability: How businesses must leverage insights to go green

Hear from Christina Shim, Global Head of IBM Sustainability Software as we discuss green strategy and the pivotal role of data.
Find out more
Operations
Article

Nurturing trust:The foundation of effective leadership in today’s landscape

Discover how fostering transparency, empathy, and compassion transforms workplaces and drives success.
Stephanie Garey
Find out more
Operations
Article

Data that’s making a difference in patient health

Hear from the Chief Medical Information Officer at Phoenix Children's Hospital on putting data to work for clinical excellence.
Kelley Iuele
Find out more
Operations
Article

How the cloud is driving a full-scale business transformation at Equifax

Learn from Equifax's CFO about how their $1.5 billion cloud-driven transformation led to growth, improved performance, and innovative solutions.
Tim Cassidy
Find out more
Operations
Article

Embracing a new manufacturing era:Hiking up the hyper-hill

Discover the three key trends that have emerged as driving forces behind technology transformation in today's fast-paced world.
Sarah Tijou
Find out more
Operations
Article

Digital Twins:The Dynamic Duo in Manufacturing

Discover digital twins, the technology that is revolutionizing the fast-paced world of the manufacturing industry.
Sarah Tijou
Find out more
Operations
Article

Embracing Diversity:The Key to Innovation and Progress in Technology

Read about studies that have shown diverse teams are more creative, more productive, and better able to solve complex problems than homogeneous teams.
Tim Cassidy
Find out more
Operations
Podcast

Navigating decarbonisation for business success: Why it’s not all doom & gloom

Find out more
Operations
Article

Collectively We Are Stronger:Removing the Stigma from Cyber Attacks

Read the 3 tips Michael Owens offered to ensure development teams are producing safe and secure versions of open-source components in software project
Tim Cassidy
Find out more

Related events