As we approach 2024, the intricate dance between technology, sustainability, and resilience will shape the future of supply chains. This blog post unveils the top supply chain trends that will redefine the industry going forward; from the continued integration of advanced technologies to the growing emphasis on ethical practices, these pivotal shifts will have a big impact on logistics, procurement, and distribution strategies.
Join us on a journey through the anticipated trends that will influence the way businesses orchestrate their supply chain operations in 2024
During its annual Connect conference, the Association for Supply Chain Management (ASCM) recently revealed that the digital supply chain earned the number-one spot on its list of 2024 supply chain trends. One of the driving factors behind the growth of the digital supply chain is its ability to enable end-to-end supply chain visibility.
According to a survey by McKinsey & Company, 45% of supply chain leaders reported a lack of visibility into their upstream supply chain, making risk management a challenge. To solve this problem, the digital supply chain and technology integration will take center stage in 2024. Some of the digitization initiatives that will help improve supply chain visibility include:
AI saw an explosion in popularity in 2023, and that hype isn’t going away any time soon. According to a Research and Markets report, AI-enabled supply chains have proven to be over 67% more effective than their non-AI counterparts, boasting less risk and lower costs overall. AI has also played a crucial role in improving sustainability in manufacturing in recent years, a trend that we expect to continue in 2024 and beyond.
AI has lots of applications within your supply chain, and new use cases will continue to reveal themselves as adoption grows and new solutions enter the market. Some of the benefits you can expect to see from the use of AI in your supply chain include the following:
The growing awareness of Environmental, Social, and Governance (ESG) issues will make sustainability a top supply chain trend in 2024 as legal entities continue to put more stringent measures on non-compliant practices. Some of the sustainability-focused strategies businesses should focus on in their supply chain management include:
More than ever before, supply chain management requires cooperation, transparency, and trust between all parties. If you’re looking to improve your supply chain in 2024, a trusted third-party quality control company like AQF can help.
We offer thorough quality inspection services and supplier audits to ensure your suppliers meet all of your expectations and deliver your finished products on time. Our team of global experts can help you create a tailored quality control program that sets your business up for success in 2024 and beyond. To learn more about our capabilities, download our services guide or contact our team today.