Key Technology Trends for Supply Chain Planning Leaders in 2024
October 2023 – Composite AI and supply chain data governance have been identified as the most influential technology trends for supply chain planning (SCP) leaders, according to a recent report by Gartner, Inc. These trends are set to transform the landscape of supply chain management, enhancing decision-making processes and enabling extensive automation.
Insight from Gartner Analysts
Eva Dawkins, Director Analyst in Gartner’s Supply Chain practice, highlighted the significance of evolving decision-making frameworks through advanced technologies. "SCP leaders are developing transformation roadmaps that prioritise advanced decision intelligence and automated decision-making," Dawkins explained. She further elaborated that Composite AI, which combines various AI techniques to enhance learning efficiency, will be crucial for the optimisation and automation of numerous planning processes at scale. Concurrently, supply chain data governance is regarded as the foundational element for successful digital transformation.
Strategic Roadmaps Amidst Economic Pressures
SCP leaders face the challenge of forming strategic roadmaps that ensure their businesses remain competitive amid economic uncertainties and frequent disruptions. The plans must show how technology investments can yield substantial business benefits, despite rapid technological advancements. Gartner advises shifting from IT-led to business-led digital leadership. This involves SCP leaders spearheading multidisciplinary teams to advance business operations, channels, and products. A clear governance process is essential, engaging various stakeholders to prioritise supply chain planning technologies effectively.
Top Technology Trends Identified
The key technology trends identified to aid SCP leaders in enhancing their decision-making processes are:
Composite AI: Recognising the increasing necessity of addressing uncertainty, complexity, and the drive for automation, SCP leaders are encouraged to utilise a diverse array of AI techniques. This avoids a one-size-fits-all approach, allowing organisations to define and implement more effective composite strategies by leveraging a wider variety of techniques. Composite AI is expected to drive optimisation and automation significantly within SCP activities.
Supply Chain Data Governance: Maintaining high data quality through a formalised data governance framework is critical. This framework ensures that supply chain data is correctly identified, defined, controlled, and accessed, both internally and externally. Effective data governance fosters trust and supports the adoption of new technologies, making it a preparatory activity for organisations embarking on digital transformation journeys. Accurate, relevant, and complete data is essential for realising the full benefits of advanced technologies like composite AI.
Dawkins underscored the necessity of a robust data governance strategy, stating, "A sound data governance strategy supports advanced technologies, such as composite AI, while also facilitating collaboration throughout the supply chain technology ecosystem. Without attention to data governance, SCP leaders will likely struggle to achieve their expected ROI on key technology investments."
Upcoming Gartner Events
Gartner experts will delve deeper into these trends at the upcoming Gartner Supply Chain Planning Summit. The event is scheduled to take place in London, U.K. on October 14-15 and in Denver, CO on December 3-4. These events will provide further insights and discussions on the latest technology trends shaping the future of supply chain planning.
For additional details, Gartner clients can refer to the in-depth report, "Top Supply Chain Technology Trends for Supply Chain Planning Leaders 2024." This research is tailored to assist SCP leaders in pinpointing impactful technology investments that support new business models, enhance decision-making processes, and promote ecosystem collaboration. Non-clients can find more information under "Supply Chain Planning."
The emphasis on Composite AI and supply chain data governance marks a pivotal shift in how businesses approach supply chain planning, equipping them to navigate and thrive in an increasingly complex and automated future.
Source: Noah Wire Services