Supply Chain Industry Trends for 2017 and Beyond

Supply Chain Industry Trends for 2017 and Beyond

The supply chain industry is dynamic and exciting. Many companies invest money to drive growth and profits in their business. There are many trends to know and understand for this year and beyond. By following these trends, companies can improve their current way of doing business.

  • Sustainability
  • Collaboration
  • Big Data

Sustainability

Perhaps the biggest trend in the supply chain industry is a focus on sustainability. This is especially true in industries where the customers are more likely to desire this focus. Companies are investing heavily in this area to meet consumer demands. Although it is expensive in the beginning, over time a focus on sustainability tends to save money. Many companies invest money in alternative sources of energy for equipment and transportation options.

Collaboration

Another important trend in the industry is collaboration. Many companies are teaming up with supplier partners to try to drive sales and increase profits. This is something that is only going to continue in the years ahead. Companies that try to do everything alone are at a disadvantage. As technology plays a bigger role in the supply chain than before, the need for collaboration is only going to continue.

Big Data

The amount of data available to companies is growing every year. It is vital that companies have access to big data, but more importantly that they use it to make sound financial and business decisions. There are a lot of companies that are unsure of how to use the data they have. With all of the changes going on in the industry, now is the time to start making adjustments on how to grow your business the right way. The supply chain is vital to this growth, and investing the right resources is essential to success.

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