The Evolution of Supply Chain to Supply Chain Evolution| CRLC June Insider | June 2024

The supply chain was once a straightforward path from supplier to customer, but over time it has evolved into a complex, interconnected ecosystem. This transformation is driven by technological advancements, changing consumer demands, and global events. Below are just some of the highlights of the transformation and a little insight into our next CRLC event, “Supply Chain Evolution”.

The traditional linear supply chains involved straightforward progression from raw material suppliers to manufacturers, distributors, retailers, and finally, consumers. The flow was often slow and siloed and the inventory focus was on maintaining large inventories at an expensive storage cost.

Globalization in the industry allowed for expansions across multiple countries which could potentially provide reduced costs but added more complexity and risk from long lead times, currency exchange fluctuations, and political instability.

Technology has weaved its way into the supply chain with automation whether it’s robotics, IoT, or RFID to supply data analytics for forecasting, inventory management, and decision-making processes. Integration and collaboration are enhanced with digital platforms and cloud computing and blockchain technology that insures transparency, security, and traceability of transactions and products. And, the big talk on the street right now – Artificial Intelligence! AI can optimize the supply chain like never before paralleled.

But at the end of the day, who doesn’t want resiliency and sustainability in their operations? We’ve been there and done that during the pandemic when we quickly had to adapt to the need for a resilient supply chain (remember the toilet paper shortage??). And, the increased focus on eco-friendly practices across all phases of the supply chain is just insurance for ethical sourcing of materials, manufacturing, and waste.  Recycle, reuse, repurpose = circular economy.

So, what does the future hold? “Rumor” has it that we will see/hear/learn more about digital twins, 5G technology, and consumer-centric supply chains. But for the moment, we are compiling a great lineup of guest presenters for the next CRLC event on August 15 – Supply Chain Evolution – an all-day conference focusing on what is happening now and what we foresee in the future for the supply chain in Central Ohio. We hope you will join us!

Christine Boucher
Director, Columbus Region Logistics Council
christineboucher@columbus.org