Food-borne illnesses can be deadly. Yet when people hear about a food recall — even for something serious like E.coli — they usually determine whether or not they recently purchased that item and move on, not stopping to consider what the situation implies about the U.S. food supply chain.
Shipping errors frequently occur because of incorrect picking operations, which accumulates about 5% of annual shipping costs. Aside from the financial damage this can cause a company, faulty picking operations often result in an incorrect item being shipped, an incorrect number of items being shipped, or an item shipped to the wrong address.
Digital technology in the supply chain, such as artificial intelligence and machine learning, supports end-to-end decision-making, and visibility into both network-wide supply-demand information and operational level response. These technologies run on data, which makes timely and accurate data collection, validation, management and analysis fundamental to advancing digital optimization strategies. That’s especially the case in today’s highly volatile market, where it has become increasingly challenging to accurately predict capacity and demand.
The latest news, analysis, trends and solutions for big data, blockchain and the internet of things (IoT) and their impact on supply chain management. Big data describes the large volume of data that inundates a business on a day-to-day basis and can be analyzed for strategic business insights. IoT is the means that collects and sends data from a range of “things” — anything from watches to fridges to cars — that are connected to the internet with sensors or computer chips. Learn how companies around the world are using big data, blockchain and IoT for supply chain optimization and competitive advantage.
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