Using 5G in supply chain operations can allow organizations to optimize their routes to avoid unnecessary travel and inefficiencies. Improved geolocation technologies can allow better visibility of delays and unforeseen travel circumstances involving, for example, traffic jams in highly populated areas.
By complementing 5G and edge computing with other emerging technologies, such as artificial intelligence and machine learning, it is possible to more accurately predict when products will physically hit retail shelves. .
Most companies still use manual checks to track and trace products. The use of 5G in supply chain technology makes it possible to electronically label, track and record all shipments not only to optimize supply chains, but also to prevent the loss or theft of merchandise.
Armed with this information, it then becomes much easier for manufacturers to not only predict when shortages are likely to occur, but also to mitigate them by finding alternative sources of raw materials and other critical components before their lines of supply suffer serious disruptions.
Companies that move
According to a recent McKinsey survey of dozens of supply chain managers, nearly three-quarters of supply chain functions currently rely on spreadsheets to manage processes, leading to human error. a real risk and can lead to major disruptions. That being said, surprising progress is being made in modernizing the global supply chain.
Supply chain leaders are aware that change is needed and are taking action. Ninety percent of executives expect to review planning IT in the next five years, and nearly a quarter (23%) say they have done so. Four in five are planning or already using AI and machine learning in planning, and 60% plan to do so in the future.
An example of a company on the move is FM Logistic, an international provider of omnichannel supply chain services, which has partnered with Verizon Business to transform its global network infrastructure. The secure and supercharged SD WAN network will cover FM Logistic’s operations in 14 countries to enable digital transformation initiatives that span a multitude of IoT and AI technologies.
“With new digital applications on the horizon such as the Internet of Things, artificial intelligence and machine learning creating an explosion of digital data, it is crucial that enterprises assess their existing networks to ensure that they are ready for this rapidly changing digital future,” said Scott Lawrence, group vice president of Verizon Business Europe. “The new networks offer better security, more capacity and improved functionality. They can help drive strategic business growth and innovation of new services for increased competitive advantage.
The upgrade will allow FM Logistic to get a head start and prepare its infrastructure for the next generation of operational innovations.
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