Happy National Supply Chain Day everyone! While the day celebrating all things supply chain may be relatively new (it was initially celebrated in 2020), the supply chain industry itself is one of the most important, longest standing industries in the world.
Initially born in the early 1900s along with the establishment of the modern post office, the supply chain has evolved throughout the years, adapting with the economy’s ever-changing needs to ensure that critical goods are brought to wherever humans need them, either for consumption, entertainment, or use in other industries.
As we celebrate the supply chain in 2024, it’s important to raise a glass in honor of the tens of thousands of workers – those in front-line, back-room, assembly line, management, transportation and other roles – who make up each link of the supply chain. Without their efforts – across all levels – the modern supply chain would fall apart. This day is truly for them.
On the occasion of this day of recognition, it’s also important for us to think about what’s next for the industry. The supply chain industry has always been both flexible and resilient, able to transform itself again and again as needs changed. And as any pundit watching from afar can see, it’s currently in one of these phases again.
Sustainability and resilience to disruption has become increasingly important in supply chain circles – especially since this day of celebration was established in 2020. The pandemic-driven demand and shortages opened the eyes of everyone in the industry to how important incorporating resilience and sustainability (both in goods and processes) is to the future of the industry. The ability to run factories, manage shipments and deliver goods in the face of healthcare crisis or other global disruptions has become a baseline requirement for supply chain success in only a few years.
More importantly, the biggest change in the industry is around the incorporation of data and analytics. Technological advances are creating a new foundation for decision-making – one where every link of the chain can be optimized based on accurate, often real-time information. This makes it easier to predict demand, manage risk – and understand expenses. Knowledge is power, and in the supply chain space, stakeholders at all levels are gaining access to this knowledge for the first time, dramatically improving decision-making and the levels of optimization and fine-tuning possible. We’ve truly only begun to realize the impact.
And there’s more to come. AI is looming on the horizon, and while not 100% mature yet, it is easy to see how a tool like this – when paired with the correct data and analysis tools – can evolve the supply chain industry even further.
So, join us here at Reveel in taking a moment to thank your local member of the supply chain – and get excited about how the space will evolve in the next few years.
