Why Supply Chain Management (SCM) tech spending of industries like Trucking, Retail, CPG, and Apparel is rising?

COVID-19 induced partial or full lockdown across the globe highlighted the captious role of supply chain and its workers. With existing enterprise working, managing effectiveness has been difficult. Thus, industry players are trying to acclimatize to digitization in the supply chain and logistics industries. Trucks play a key role in the deliveries and shipments; thus, their automation is likely to have an impact on timely supplies.

The technology in trucks comes with several aspects such as timely checking of vehicles, driver-centric approach, management of driver’s shifts, route optimization, and drivers health tracking. The industry was combating manpower shortage, increased demand and lesser number of fleets available, lengthy reevaluating processes, on-road emergencies, and vehicle maintenance. All these factors coupled with mismanagement of supplies during pandemic highlighted the unspoken and spiniferous issues of the industry. In order to overcome these issues, the spending on supply chain management (SCM) technologies has increased significantly from last year.

Furthermore, the inclination of companies toward route optimization and planning technologies for further assessment of traffic, road quality, and weather forecasts is boosting their investments in the last few years.

Changing business strategies coupled with the rising need for immediate, safer, and reliable supplies from manufacturers, retailers, and large companies are encouraging further improvements in the supply chain industry. Also, owing to demands from clients coupled with rising competition in the market, the supply chain and logistics players are no longer in position of affording errors or mishaps related to delivery timelines. Thus, the adoption of automation in the industry especially among small and medium-sized players has been witnessed for past few years.

Author Name: Nitish P.

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