preparing for changes in demand , material availability , manufacturing capacity and human resources to continue fulfilling and exceeding customer needs and expectations .”
It is the introduction of smart tech , such as IoT , AI , ML and blockchain which has initiated supply chains progression to industry 4.0 . Envisioned as a revolutionary combination of automated processes and self-improving computer algorithms , industry 4.0 has the potential to fundamentally alter the ways in which we work and live . By carefully embedding these values , such as SAP Digital Supply Chain ’ s solutions , that SCM can reach nextgen effectiveness . “ We are able to capture a digital thread throughout the product and asset life cycle , from design to decommission ,” continues Howells . “ In fact , a recent SAP and Oxford Economics study of 1,000 supply chain executives revealed that many organisations are focused on applying intelligent technologies like automation , ML and AI to streamline processes , automate routine tasks and assist in the effectiveness of other technologies , such as augmented and virtual reality and drones .” Ford adds : “ Operational efficiency begins with digitising analogue processes , unifying incongruent legacy systems , and aggregating data - all of which can be done with low-code applications .”
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