(Courtesy: Wal-Mart)
In the coming decade, eight so-called “disruptive technologies” are going to change the way businesses in the materials handling industry operate, according to a new report based on interviews with industry executives.
These transformative changes will create “always-on” supply chains that will provide more efficiency, improved visibility, and better customer service.
The report — “Accelerating Change: How Innovation Is Driving ‘Always-On’ Supply Chains” — was compiled by the Deloitte consulting firm and based on interviews with more than 900 materials handling industry leaders. It was released earlier this month during the MHI Modex 2016 show held at the Georgia World Congress Center in Atlanta.
Future Shock
The eight potentially game-changing technologies revealed in the report are:
- Predictive Analytics
- Robotics and Automation
- Sensors and Automatic Detection
- Wearables and Mobile Technology
- Driverless Vehicles and Drones
- Inventory and Network Optimization Tools
- Cloud Computing and Storage
- 3D Printing
Most businesses will incorporate some or all of these technologies within the next decade whether they like it or not because their competitors will already be using them, according to Scott Sopher, principal at Deloitte Consulting LLP, the group that compiled the report.
“The innovations driving ‘always-on’ supply chains are initially disruptive, but they can empower firms to optimize processes and improve efficiency, creating a more flexible experience for workers and driving measurable business outcomes,” Sopher said in a news release announcing the report. “According to the survey findings, adoption of the technologies covered in this report will grow dramatically over the next six to ten years.”
How They Will Be Used
Applications of these breakthrough technologies are expected to affect practically every industry.
For example, in agriculture, the use of drones and predictive analysis will facilitate smarter irrigation strategies and the more deliberate application of chemicals. In the cold chain industry, sensors and automatic identification will make it easier to manage and monitor product quality remotely. And in the media, cloud computing and storage will allow for the better management of media distribution channels and optimized revenue generation.
Many industries will use multiple technologies, according to the report. For example, in the oil and gas industry, robotics and automation along with sensors and automatic identification will facilitate remote sensing, underground visualization, and automated safety controls for drilling and fracking.
And in the mining and construction industry, 3D printing combined with cloud computing and storage will enable on-demand replacement parts to be build at remote sites using 3D printers to increase asset efficiency.
Early Acceptance
The future is now, said MHI CEO George Prest, and the companies that embrace these technologies sooner will have the competitive advantage later.
“The ‘always-on’ supply chain has the potential to deliver massive economic and environmental rewards for our industry and society,” Prest said. “It can boost productivity and sustainability, drive new markets, encourage innovation, and create new, high-paying jobs.”