Cosmo Tech

Gartner Top Trends in Strategic Supply Chain Technology 2023 Report

Gartner Top Trends in Strategic Supply Chain Technology 2023 Report

Gartner Top Trends in Strategic Supply Chain Technology 2023 report uncovers the digital solutions that will help decision makers optimize their supply chains while remaining agile, flexible, and open to adapting new business models.

In Challenging Times, Three Priorities Emerge

The challenges to optimal supply chain operations are many.

For one, the complexity of global supply chains is only increasing which makes planning and operations more difficult. For another, the pressures of inflation and the volatility of costs have put incredible economic pressure on decision makers. Supply chain leaders are also being challenged to maintain their teams, retaining the talent that they need to advance towards their KPI targets.

Gartner survey of supply chain professionals revealed that, in the face of these challenges, they were focused on three core priorities:

  • Increasing productivity and efficiency
  • Improving resiliency, continuity risk, and security
  • Fostering innovation around new operating models and processes

Supply chain leaders understand that achieving their targets for each of these priorities requires technological assistance, and Gartner report identifies the three areas where new technology trends are emerging in 2023.

Optimize. Pioneer. Scale.

The report identifies three trend profiles for the emerging strategic supply chain technologies: Optimize, Scale, and Pioneer.

Within the Optimize profile, Gartner analysts have identified three key technologies:

  • Employee Engagement describes technologies that help supply chain leaders build resiliency in their human resources. These technologies help improve worker experiences, lift performance and job satisfaction, and ultimately lead to employee retention.
  • Industry Cloud Platforms are increasingly common in the supply chain space as complexity continues to grow. ICPs incorporate modularity and composability as core capabilities and help power the agility that leaders need to respond to uncertain futures.
  • Mobile Asset Optimization technologies take the IoT sensors that have long tracked fixed assets, machines, and tools in warehouses to the next level. Mobile assets that can be tracked include vehicles, robots, and even workers to drive productivity gains.

Under the
Scale profile, Gartner listed another three key technologies:

  • Composable Application Architectures are accelerating business change as APIs, low-code and no-code applications, and programmatic access to applications deliver user-centric interfaces to help scale supply chain practices. There is more collaboration, and deeper partnerships between users and developers.
  • Cyber-Resilient Supply Chains address the business risk that cyberattacks from organized crime and even state actors represent to global supply chains. Coupled with the need to reduce costs, technologies that aid leaders in reducing cyber risk are increasingly popular.
  • Supply Chain Integration Services go beyond what was traditionally the realm of IT teams to encompass technology platforms, cloud services, strategic decision making, and logistics teams across the organization and its partners.

Finally, under the
Pioneer profile, Gartner identifies two key trends:

  • Smart Operations, by which Gartner means extending the concept of smart manufacturing to all core operational capabilities. These capabilities include manufacturing, services, logistics, warehousing, transport, and the organization’s global trade footprint.
  • Actionable AI that leverages computers to mimic the problem-solving and decision-making of humans. Actionable AI learns from past experiences – both human and digital – and is more adaptable to the uncertainty that pervades today’s supply chains.

From Technology Trends to Digital Supply Chain Twins

As well as identifying the technology trends that are emerging in the supply chain space, the Gartner analysts also identified other technologies that they deemed ‘evolved’. Alongside ecosystem enablement and sustainability, the analysts identified the Digital Supply Chain Twin (DSCT).

The DSCT has been cited by Gartner for the last four years as a top trend. Now, though, the DSCT is “recognized as foundational technology for advancing to higher maturity and leveraged not only by highly mature organizations, but also across organizations of any size and industry”. 

Companies like Cosmo Tech have demonstrated how DSCTs can be leveraged by supply chain leaders to optimize operations and improve productivity and efficiency. 

Whether is it improving production planning to lift operational efficiency by 10%, optimizing a strategic sourcing strategy to increase profit margins by 5%, or improving production planning and scheduling so that production throughputs go up while stock levels and cycle times go down, the impact of Cosmo Tech’s AI Simulation DSCTs is significant and clear.