The Indian supply chain management industry has a vast potential to grow over the next five years. International benchmarks indicate that India’s B2B e-commerce market will reach $90-100 billion GMV (gross merchandise value) by 2030. Integrating AI (Artificial Intelligence) with blockchain technology with cloud computing and IoT (Internet of Things) will create a robust supply chain management infrastructure for India in the next five years. Indian supply chain management platforms have the capabilities to address resilience.

Several businesses today still use traditional supply chain management systems, which need to be made more efficient for tracking products and services. Cloud computing can help improve efficiency across the supply chain by ensuring smooth communication between stakeholders. This helps reduce costs and improves productivity by providing access to data at all times. It also helps track inventory and manage risks better by using analytics tools that predict demand patterns more accurately than ever before.

With AI, companies can predict demand and manage inventory levels more accurately than humans. It will also enable companies to respond better to changing market conditions and avoid overproduction or underproduction of products. Furthermore, it will improve supply chain resilience by detecting anomalies in data patterns that indicate a potential problem with the supply chain or logistics systems. If anomalies are found, they can be investigated further using machine learning algorithms that quickly find patterns in large volumes of data without requiring human intervention or time-consuming analysis processes like those used in traditional software systems.

Here are some of the areas where the adoption of technology can play a significant role:

Resilience: The supply chain industry is constantly changing, with new technologies and methods always emerging. An integrated approach that takes into account not just the traditional ways, but also newer ways of working will help Indian supply chain management companies adapt and stay ahead of the competition.

Analytics and AI: Artificial intelligence can predict demand, understand customer needs, predict problems and take corrective actions before they arise in supply chain management. For example, AI-enabled bots can monitor the supply chain in real-time and alert stakeholders if there is a delay in the delivery of goods in advance so that corrective action is taken to avoid the delay or change the future planning to cover up for the delay. As a result, operations will be efficient, and costs will be low.

Supply Chain Optimisation: To keep up with the demand, businesses must continually optimise their supply chain operations to remain competitive. This includes reducing costs, improving efficiency, and ensuring the quality of goods and services. For instance, leveraging technology to automate specific processes, such as inventory management and order fulfilment, can help businesses increase efficiency and reduce costs.

Connectivity: Cloud connectivity lets enterprises exchange information seamlessly rather than relying on on-premises servers or databases. This will help the industry to become more efficient and reduce the cost of operations by enabling better coordination among suppliers, manufacturers, and customers. Additionally, it will allow companies to track their inventory in real-time, reducing stockout risk and improving customer satisfaction.

By streamlining the coordination between all forms of transportation, supply chain operations in India can become more effective and efficient. Therefore, monitoring and controlling the supply chain from end to end is essential to maintain the highest levels of efficiency. These techniques ensure accuracy and provide a reliable system for tracking updates. This, in turn, can help efficient and optimised decision-making. To do this effectively, businesses should explore ways to use data and analytics to gain insights into the changing landscape.