Companies have started to embrace the digital revolution and are beginning to see the full potential of Supply Chain 4.0, according to a recent study from LogisticsIQ.
The report outlines how real-time product visibility, strategic sourcing and optimization, end-to-end visibility, inventory visibility and optimization, real-time manufacturing asset intelligence, micro fulfillment, efficient last mile delivery and dynamic demand and supply synchronization are some of the major benefits of a digital supply chain.
According to the report, the proliferation of technologies and opportunities around the digital supply chain means companies need to look seriously at outsourcing these functions. This is going to be a major shift towards a new business models as Supply Chain as a Service (SCaaS), the report’s authors noted.
In the report, titled “Next-Gen Supply Chain Market – Global Forecast to 2030,” this market is likely to reach USD 75 billion by 2030, from USD 32 billion in 2019. Enablers of digital supply chain include Artificial Intelligence (AI), 3D Printing, Cloud Computing, Big Data and Predictive Analytics, Robotics and Automation, Data Capture, UAVs and UGVs, Digital Twin, IoT, Blockchain, Augmented and Virtual Reality, Wearable & Mobile Devices and 5G connectivity.
