Near Future Supply Chain Management Technology Trends

Near Future Supply Chain Technology Trends

Investment in supply chain technologies has risen dramatically due to the rising global need for autonomous solutions. In 2022, businesses have begun to utilize technology-driven models throughout their operations to properly equip for supply chain management risks.

Pay attention to these supply chain technology trends in 2022 and beyond to improve your company’s productivity and prepare for the future.

Photo by Tamanna Rumee on Unsplash 

1. Digitization

Recent COVID-19 lockdowns highlighted the critical necessity for technological adoption. Supply chain digitization entails beyond just minimizing manual operations; it also includes workflow and transaction automation, higher resource efficiency, and the delivery of important data.

Businesses must use supply chain technology in their procedures to achieve tremendous benefits.

2. Higher Visibility

Supply chain visibility is still critical for businesses, and it’ll continue to be so in 2022. Many companies believe that visibility is among the most important components of their success.

Visibility helps businesses save time and resources to focus on more important concerns. It’s critical to improve a business’s entire customer experience, avoid stockouts and order slowdowns, and help disgruntled customers.

It’s uncomfortable to tell your clients that their order is late or that it’ll arrive in seven days, or that you’re unaware of the package’s location.

3. Quantified Forecasting

In the post-pandemic era, supply chain forecasting is critical since it assists in the optimization of overstocking, unsatisfied consumers, lost income, and other activities.

Traditional forecasting methods are incapable of measuring real-time supply chain data or cost-cutting tactics for the best results.

However, in 2022, there’s no single way to forecast supply chains, and none of them will ever be flawless since forecasting data is dependent on assumptions. Unforeseen incidents can be used to test those assumptions.

4. Supply Chain Analytics

Businesses will deploy two different types of supply chain analytics in 2022: heuristics and exact. Heuristics analytics utilized mathematical methods to solve difficult supply chain problems.

For quicker and more efficient decision-making, reliable analytics solutions are built on data-related processes. The real advantage of such analytics for a company is a better understanding of its supply chain network.

This allows them to make precise decisions in the event of a problem. Businesses can utilize supply chain analytics to examine data in real-time and alert suppliers and drivers regarding possible pitfalls as soon as they arise.

Bottom Line

Supply chain businesses are run on a massive scale, and insight on a micro-level is often lacking. Utilizing technology to optimize supply chains might help in streamlining procedures and possibly even develop a mutual relationship with consumers. We at Penny provide reliable solutions to help all companies in multiple industries optimize their supply chain processes. Please contact us and let’s get going!



Request Demo for Digital Procurement

Speak with a pennian
(human that’s part of our team) and find out exactly how we can help you

Frequently Asked Questions

Penny is a cloud-based Procure-To-Pay system. penny helps you digitize and manage your full procurement cycle from request to approval. Manage RFQs to vendors, compare quotations, send POs and even payment. penny was designed to make things easy and consolidate all of your organization’s spending needs into one intelligent system.

  • Allocate, manage and monitor budgets by expense accounts, projects, departments, location, teams..etc 
  • Streamlining procurement means requests, approvals, and POs won’t be lost in emails or offline.  
  • History and records of requests and purchases can be extracted and tracked easily via the platform. 
  • Product requests are more accurate through the catalog, and hence avoid purchasing mistakes.
  • Reports and analysis can be extracted from the platform, giving you a consolidated data center for all your procurement activities.
  • penny is cloud-based and an easy to use platform. The action-board gives your team a user-friendly and simple experience.

Yes, penny is designed to handle complex procurement operations. We make EVERYTHING simple. Via the contract management feature, you can set the terms and conditions of your contract, and the system will recognize the products and the vendors of your request and match it with specified terms of your contract. Easy.

Putting you in control of your spending is integral to our mission. penny allows you to create Expense Accounts that match your P&L, and assign budgets to them. For example, you can assign $X for your “Travel Budget” and reflect on the budget before approving a travel request. In addition, penny allows you to set budgets for cost centers like projects, departments, locations, and so much more. With penny, you can extract reports and view your spend per Expense Accounts or cost center.

Yes. If your product search finds no results, you can submit a non-standard request.

Need Some Help?


This site uses cookies to offer you a better browsing experience. Find out more on how we use cookies and how you can change your settings.