Consumer Goods Supply Chains: In a State of Evolution
by Maureen Perroni, on August 28, 2017
Consumer goods manufacturers, retailers and every entity in between have had to evolve over the past few years. Facing new types of market expectations and demand, these companies have technological options open to them in their quest to make their supply chains faster and more accurate. They will have to accept these options into the fold over the next few years, because it's hard to imagine organizations becoming sufficiently modern to meet consumer demand while still held back by legacy processes.
The Hazards of Legacy Infrastructure
Data is currency when modernizing any kind of business operation, especially when automation and hands-off IT are options. According to Internet of Business, the consumer goods supply chain market can grow faster, smarter and more visible, but is being held back by an enemy within: legacy infrastructure.
Companies' digital maturity levels at present are consistently lacking. This means that, throughout these organizations' structures, they are missing two things: The tech tools that enable visibility and the strategies to make them work effectively. The news provider noted, however, that despite their current level of unpreparedness, consumer goods producers realize the value of better information collection, and are pressing ahead to change their ways.
Next Step: Artificial Intelligence?
Once data management and storage improve, the futuristic implications for consumer goods supply chains may unfold quickly. In fact, today's best decision-making solutions could soon seem outdated. Supply Chain Management Review contributor Greg Brady explained that artificial intelligence can have an impact on logistics - provided companies shake off their dependence on slow-moving data and lack of integration with general business systems.
Capturing the Information
To get more visibility on materials and finished products moving through their supply chains, consumer goods companies need to implement systems designed to tackle this goal. One such option is a standardized labeling solution, one that can be shared between partners and ensure that each item is detectable. With this information added to the system, companies can begin to shake off their slow-moving data collection and use.