Supply refers to the process of distributing products to the intended customers in a more efficient way (Zheng et al., 2007). The supply process involves stakeholders like enterprises, people, information, resources, and finances to ensure final products are delivered to the final buyer, who is the customer (Zheng et al., 2007). For a supply chain to be completed, there must be a procurement request initiated. As the world continues to evolve with technology, the process of acquisition and supply continues to be affected (Min & Zhou, 2002). This calls for all business entities to align with the new trends, which are quickly redefining the space of supply and acquisition.
According to Zheng et al., (2007), technology is the next frontier in the space of procurement and supply chain. Some of the new technologies likely to affect the process include; autonomous vehicles. These vehicles are likely to impact greatly supply chains and the acquisition process. There will be an increase in Freight, resulting in reduced transportation costs since self-driving vehicles may not require to make stopovers in so many places (Min & Zhou, 2002). This will also mean that goods will be delivered more efficiently, unlike vehicles that require human intervention to drive.
Drones also can transfer small objects quickly, unlike folk lifts, which may require more time in moving simple items from warehouses to other places (Zheng et al., 2007). Technology has made drones the next frontier in business; thus, many people are likely to adopt the use of drones for the supply of deliveries to homes, offices, and other places (Zheng et al., 2007).
According to Min & Zhou (2002), 3D printers can consolidate many designs in one piece, saving costs of designing. Also, it makes it easier for the customization of a product, thus making it easier for marketing. 3D printing reduces the complexity of designing products, thus rationalizing inventory and logistics (Zheng et al., 2007). Therefore, supply chains and acquisitions might be forced to adopt this new technology to ease the process of supply and procurement.
Robots Can minimize human intervention in many processes is what every business moguls are working on. The introduction of robotic services is a sure way to enhance the delivery of goods from warehouses, and other premises are done more efficiently. According to Zheng et al., (2007), the use of robots in supply chain and acquisition is likely to eliminate margins of error, prevent people from accidents involved the transfer of heavy objects as well as save on time.
In a nutshell, the supply chain and acquisition process plays a crucial role in the procurement and distribution of products and services. As the world evolves, technology remains a very important factor in redefining the future of businesses, which includes supply chains. Thus, supply chain leaders need to come up with supply chains that will fit into the future of technology. Some of the technologies include the use of self-driven vehicles, robots, 3D printers, and the use of drones. For instance, vehicles are likely to impact massively supply chains and the acquisition process. There will be an increase in Freight, resulting in reduced transportation costs since self-driving vehicles may not require to make stopovers in so many places. Thus, as leaders think business, they must also think of the future of supply with the help of technology.
Min, H., & Zhou, G. (2002). Supply chain modeling: past, present, and future. Computers & industrial engineering, 43(1-2), 231-249. https://www.sciencedirect.com/science/article/abs/pii/S0360835202000669
Zheng, J., Knight, L., Harland, C., Humby, S., & James, K. (2007). An analysis of research into the future of purchasing and supply management. Journal of Purchasing and Supply Management, 13(1), 69-83. https://www.sciencedirect.com/science/article/abs/pii/S1478409207000520
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