Investment in Supply Chain Technologies to increase dramatically in 2019
New report highlights technologies driving digital supply chains and how firms can assess their Supply Chain Digital Consciousness Index.
April 26, 2019
By PLA Editor
These eleven technologies work together to create NextGen supply chains that can meet these challenges because they are digital, on-demand and always-on.
Potential to disrupt and create competitive advantage
The top technologies respondents say can be a source of either disruption or competitive advantage are:
- Robotics and automation (64 percent)
- Predictive analytics (59 percent)
- Artificial Intelligence (55 percent)
- The Internet of Things (IoT) (52 percent)
- Driverless vehicles & drones (51 percent)
Cloud computing and storage has the highest current adoption rate (56%). Adoption is expected to grow to 79% over the next two years, and to 91% over the next five years.
Over the next five years predictive analytics is expected to reach an 87 percent adoption rate, followed by IoT at 80 percent, robotics and automation at 72 percent, artificial intelligence at 55 percent and driverless vehicles and drones at 51 percent.
Top Barriers to Adoption
The top three barriers to adoption of these technologies are: 1. Tackling the supply chain skills gap and workforce shortage (65%) 2. Customer demands for lower prices (56%) 3. Customer demands for faster responses times (54%)
Supply Chain Talent Gap
A highly-skilled and increasingly digital supply chain workforce is needed to implement these technologies. This has been a theme in all six annual reports and the talent gap is growing as the adoption of these technologies increases.