Increased exposure to supplier risks, lean manufacturing and cost pressures are driving rapid change across manufacturing supply chains. In response to these pressures, leading manufacturers have begun to adopt processes and technologies more commonly seen in fast moving supply chains such as fast fashion and high-tech.
Manufacturing executives and shareholders alike are now demanding that the short cycle times, low inventory levels and responsiveness to dynamic customer demands—all hallmarks of fast fashion and high-tech—be realized within their own manufacturing supply chains.
Real-time visibility of global goods in motion, tighter coordination of hand-offs between extended trading partners, and the ability to anticipate and avoid supply chain disruptions are now foundational requirements for manufacturers. Fortunately for manufacturers, a new breed of solutions has emerged that leverage data gathered from the Internet of Things (IoT) and advanced machine learning algorithms to facilitate this transition.