By Nathan Fisher, Managing Editor, BizTechReports
Lane Cooper, Editorial Director, BizTechReports
“It is going to be imperative that companies implement these digital technologies. I personally feel that we are at an inflection point of 18 to 24 months. Those who don’t embrace these technologies and capabilities during this inflection window will lose ground to their competition.”
Organizations that are unable to see the exact disposition of every item in their supply chain will be unable to compete effectively in an increasingly real-time world driven by today’s ecommerce market. So says Mahesh Veerina, CEO of Cloudleaf, a Silicon Valley-based company that is using digital technologies — including internet of things (IoT), artificial intelligence (AI) and machine learning (ML) — in the cloud to transform supply chains.
For years, supply chain management has revolved around tracking an array of transactional events as products flowed through different phases of the ecosystem. These systems have mainly served to provide a record of steps already taken. Despite great strides in improving the effectiveness of electronic data interchange, warehouse management and customs clearing systems, they still contribute to fragmented data silos. This makes it very difficult for decision makers to understand the true disposition of their supply chain operations.
As a result, they have not been able to make the kind of forward-looking decisions based on predictive analytics that must now be in place to meet the high expectations of consumers and enterprise clients alike.