SMART AND MOBILE SUPPLY CHAIN SOLUTIONS MARKET ANALYSIS

The lack of investments from logistics companies can hamper the global smart and mobile supply chain solutions market growth. Logistics being an integral part of the overall supply chain, low investments from these companies can hamper adoption of new age technologies in supply chain operations.

Logistics companies, especially smaller fleet operators, are still hesitant to integrate advanced IoT and automation solutions due to higher initial costs involved. The upfront capital requirement to implement solutions like fleet management systems, warehouse management systems, RFID, and other can deter many companies as  visible returns may only be seen in the long run after factoring in aspects like optimization of operations, enhanced visibility and efficiency.

Market Opportunities: Emergence of blockchain technology in supply chain management

Blockchain technology has the potential to transform supply chain management globally by providing a decentralized and transparent platform for various stakeholders. The emergence of blockchain allows all the participants in a supply chain right from manufacturers, transporters to retailers to directly trace each step of product movement and transaction in a verifiable manner. This technology ensures provenance, visibility and predictability for organizations across nations and industries.

By leveraging blockchain, organizations can digitally record all supply chain data and transactions including order details, shipments, certifications and payments on an immutable distributed ledger. This helps build trust among partners and eliminates intermediaries by streamlining processes. Real-time tracking of products, assets and documents empower businesses to proactively manage disruptions, track performance and optimize operations. Transparency brought by blockchain meet compliance requirements, monitor ESG practices and authenticate sustainability claims.

The COVID-19 pandemic highlighted the importance of resilient and transparent supply chains. It exposed vulnerabilities caused by lack of end-to-end visibility. Thus, global organizations are investing heavily in emerging technologies like blockchain to future-proof their supply networks. For example, some major car manufacturers have started implementing blockchain for traceability of conflict minerals. These aim to ensure responsible sourcing while meeting end customers' increasing demand for sustainability. Governments of major economies are funding research and pilot projects to leverage blockchain for enabling transparency in vaccine distribution, critical medical supplies and essential trade.