Companies that are part of the supply chain are facing an unprecedented era of change with the advent of Industry 4.0, growth of digitalisation and evolving customer expectations. The rise of the “Amazon” effect has shifted distribution patterns as demand rises. Customer demands for rapid fulfilment are forcing businesses of all types to warehouse their goods much closer to intermediate and end customers. At the forefront of this disruption are start-ups and new entrants that are pioneering innovations across all levels of the value chain. This phenomenon of heightened expectations from customers has seen more intricate supply chain networks being formed that are constantly evolving. Data analytics and IoT start-ups have the potential to transform supply chain forecasts, inventory management and labour management. Blockchain technology enables logistic companies to establish failsafe digital contracts. Driverless vehicles and drone technologies are revolutionising the speed and flexibility of last-mile delivery.
With these promising opportunities in the supply chain and logistics landscape, it is critical to consider the synergistic role of start-ups, venture capitals, private equity firms and multinational corporations in growing innovation and investment in the sector. The aim of this online forum is to examine the drive towards innovation and the potential of innovative technologies to overcome challenges in the evolving supply chain environment, which forms the backbone of most industries.
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