The Supply Chain of the Future: How Disruptive Technologies and Megatrends Will Shape Distribution
Jan 6, 2020
It’s no surprise that technological trends are profoundly impacting distribution organizations all around the globe. These life- and business-changing megatrends benefit distributors in many ways, enabling them to improve efficiency and reduce cost. By recognizing these trends and leveraging these technologies, you will be able to stay competitive and — most importantly — deliver greater value to your customers. But first, let’s take a look at the numbers.
By 2020, there will be 30 billion connected devices on Earth.
• It’s not the number of smartphones and tablets and wearable technologies that’s alarming — it’s the sheer volume of data generated by these devices. Machines communicating with people and other machines are creating so much information that — according to one study — we will have generated more information in the past two years than in the previous 5,000 years of human history.
• These connected machines offer US$1.9 trillion of added value. Increased connectivity between devices and consumer products greatly increases the opportunity to gain market share. The information that can help your company grow is out there, and it presents a tremendous business opportunity.
• 55% of businesses will see ROI from the Internet of Things in two years or less. Your slice of the pie is getting smaller. Businesses that put Internet of Things (IoT) technologies to work are already realizing their return on investment. In other words, it’s likely your competition is leveraging these new and emerging technologies and that your share of this new value is fading fast.
• 90% of respondents believe convergence will drive fundamental changes in business. From all indications, we are in an era of significant convergence — where information technology, operational technology, and global megatrends are on a collision course. This will drive fundamental and foundational changes in how we do business and how we interact with customers and suppliers.
If you’re surprised by these megatrends, you haven’t been paying attention. Megatrends are global, sustained, and macroeconomic forces of development that impact business, cultures, and personal lives. By their very nature, these trends define our future and the increasing pace of change. They aren’t, however, anything new. These supply chain megatrends have been on the horizon for years. As we face the next few years, they’ll have an exponential impact on your operations…
This white paper was first published by Epicor online. Download the full document here.
