In the ever-evolving landscape of supply chain management, 2024 is poised to witness a rapid assimilation of cutting-edge technologies. Anticipate a significant surge in the utilisation of predictive analytics and machine learning algorithms, primed to revolutionise demand forecasting, streamline inventory management, and elevate overall supply chain efficiency. Joe Dunleavy, VP of Innovation at Endava, spoke to us about how technology will play a vital part this year.
Technological evolution is set to be further bolstered by the integration of hardware marvels like sensors and IoT, promising a reduction in costs and an unprecedented boost in operational agility—granting companies a definitive edge in the competitive market. ‘Suppliers are expected to leverage these advancements to identify eco-friendly opportunities, curbing carbon footprints and championing environmental responsibility,’ Joe explains.
The resilient supply chain
A visible shift towards prioritising resilience reflects a proactive stance in tackling challenges, ensuring that supply chain ecosystems not only weather disruptions but also flourish amid uncertainties. The future lies in building adaptable and thriving supply chains that can navigate and excel amidst unforeseen circumstances.
Robotics to the front
While warehouse robots have been a fixture for years, their evolution continues, unveiling new forms of robotics and automation annually. ‘The trajectory appears unchanged, with the warehouse robotics market poised for a substantial 16.13% growth, driven by increased investments and expanded capabilities in warehouses,’ Joe continues.
One standout expectation is the widespread adoption of Automated Storage and Retrieval Systems (AS & AR) in the upcoming year. The projected prevalence of AS & AR systems in 2024 signifies a marked leap toward automation, streamlining warehouse operations and curtailing manual interventions in workflows.
This anticipated evolution highlights the persistent quest for enhanced efficiency and precision in warehouse management.
Along the last mile
In 2024, an upsurge in the integration of autonomous vehicles and drones is poised to redefine the delivery landscape. Industry pioneers like Manna Drone and Wing serve as prime examples, showcasing the potential advancements. ‘Customers increasingly demand both free and swifter deliveries.
However, the last mile—accounting for up to 53% of total shipping costs—poses as the most expensive and time-intensive segment in the supply chain,’ Joe explains. ✷
