Supply chains have evolved in the last several years, thanks in large part to online data collaboration. Now, trading partners can be involved in every step of the process, and all questions are answered in a timely fashion. Everyone has the data they need.
These changes have created an exciting time for businesses. According to Steve Banker of Forbes, things might get even more exciting in 2014. Banker made some bold predictions about supply change management. If these predictions come true, they could change the face of supply chain management.
Natural Gas Fleets
Those in the oil and gas industry will be excited to hear that Banker predicts growth of natural gas fleets. He claims that domestically generated natural fuel will be less volatile than fuel sourced from other regions of the world. He also states that it will offer a solid ROI. The ROI can be increased by taking advantage of credits for being socially responsible.
That means that companies in the oil and gas industry can expand their profits in 2014. They can ride this trend into the future as well, and continue to enjoy a solid ROI. Using a company like Appterra to handle data collaboration can help companies make even more in this changing climate.
Decreased Need for Warehouse Labor
Warehouse laborers play a big role in the current supply chain process, but Banker thinks that’s about to be at thing of the past. This year might see decrease in the amount companies have to pay their laborers, since lots of workers will likely be replaced by robots. While this might seem like it is straight out of a science fiction movie, it is quickly becoming a reality in the United States and across the globe.
Panama Canal Will Widen
Workers have been busy widening and dredging the Panama Canal. Once finished, the widened canal will support supersized cargo ships. Banker believes shippers will begin shipping to and from the East Coast and Gulf ports. This could make supply chains much more profitable. In order to stay profitable, companies must provide data to all trading partners in a timely fashion. If data is delayed, issues could occur. Those issues could be disastrous so collaboration will be more important than ever before.
It is an exciting time for companies and their trading partners. Supply chain management is changing for the better, and companies can use those changes to increase their reach, productivity, and profits. This is a game changer for companies who cash in on these changes.