Watch for five supply chain ERP trends in 2020
2019 saw a technology craze that significantly improved the way we do business. Looking ahead in 2020, Kayla Matthews at Freight Waves explores the positive outlook for enterprise resource planning (ERP) software to help your supply chain run smoothly. Matthews predicts the follow 5 trends to boost ERP and supply chain logistics in the coming year and beyond.
- A growing realization that ERP systems and associated technologies cut costs – Matthews believes that in 2020, as supply chain professionals continue to look for ways to reduce costs and compensate for an insufficient labor force, many will investigate whether 2020 is the right time to connect complementing technologies to their ERP systems.
- Greater emphasis on using ERP software to keep customers satisfied – ERP is implemented because of the desire for a firm to improve business performance. As we move into 2020, expect more supply chain businesses to see a link between using ERP systems and keeping their customers satisfied.
- Artificial intelligence coming to ERP software – Artificial intelligence (AI) is excellent for removing some of the manual, time-consuming tasks. AI also applies to supply chain professionals due to its inventory management capabilities. AI is already starting to integrate into some ERP platforms. In 2020, Matthews predicts, more and more ERP platforms will integrate AI into their software.
- More companies integrating the IoT into their ERP platforms – 2020 will likely include an increase in companies using Internet of Things (IoT) sensors and ensuring the respective data gets factored into the information shown in an ERP interface. Some supply chain leaders put IoT equipment on their trucks. This approach allows for tracking the vehicles in real-time and predicting the demand for sales.
- Increased attempts to combine blockchain with ERP software – Blockchain technology became widely known for its connection to cryptocurrency. It’s proved itself to be useful in other sectors such as supply chain. Blockchain provides a higher level of transparency that can improve ethical sourcing in the supply chain, cut down on fraud and more.
