What are some innovative supply chain management techniques used in modern businesses?

What are some innovative supply chain management techniques used in modern businesses?

The appearance of innovative supply chain software solutions, with embedded analytics and machine learning, is nowadays transforming supply chains due to a strategic opportunity to impact the bottom line.
Transportation management system (TMS) and risk management
While the companies want to become digital, the disconnect with current technology architectures is still great. To gain success businesses should nowadays improve agility and become more customer-centric, and the basis of an agile supply chain is a dependable information system, capable of logistics risk management.
A perfect example of such a solution is a TMS — transportation management system. The Logistic Management’s 11th Annual Software User Survey has already stated that TMS is one of the top three software solutions which are planned by the shippers for purchase or upgrade over next year. So TMS is not anymore a «nice to have» instrument but an essential component of supply chain risk management strategies for large and medium-sized businesses.
You may read the full investigation here
Data analytics function implemented in the software solutions of such kind allows having insights not only into the financial transaction data but also into operational details so the specialist can understand where the potential risks lie. A major requirement for such a supply chain software development is quick and powerful automated scheduling algorithms which are able to monitor the whole supply chain and modify the route for each shipment automatically choosing the best option.
The present-day Transport Management Systems deliver the details of:
· histories of shipment;
· forecasts of demand;
· options and provisions of the carrier;
· freight-in-transit.
All these details can be shared in real time and automatic alerts can allow the shippers to identify the root causes of problems to take measures for improvement. Due to this fact Transport Management Systems have become essential elements of supply chains, which are nowadays vulnerable to a greater number of disruptions and less tolerant of delays.
To read more about How to Reduce Supply Chain Risks
Besides, some industries have to overcome the pressure of peak season demand and in case of disruption, any business needs to restore its shipping network to normal operation as soon as possible.
That’s why supply chain management software is an inevitable tool, able to provide the accurate details at the right time allowing to take weight decisions with regards to the risk profile of the business and the time period under consideration.
Oracle Supply Chain Management Software
Through the digital solution you’ll be able to:
· integrate and automate your main data flows;
· eliminate manual data entry;
· avoid human errors;
· reduce manipulation jobs;
· transfer info faster;
· save time and save money.
Transport Logistics Automation: What Is TMS?
Mobile technology will bring you additional advantages of gathering real-time data, which will result into
· fewer errors;
· better productivity;
· reduced inventory;
· better traceability;
· improved operational performance;
· better-quality customer service;
· more effective decision-making;
· decreased costs.
Proper software for your business should combine automated data integration, visualization, and analytics, allowing demand planning, and contractors coordination. It will also let you monitor KPIs, and provide you with a better comprehension of the possible supply chain failures. So the proactive actions could be taken in advance.

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