Innovations like predictive analytics, 3D printing and wearable technologies are changing the supply chain landscape as workforce shortage intensifies; Customer demands and competition are the driving forces Traditional supply chains will radically change over the next five to 10 years as a result of new technologies, competition and customer demands, according to a new study by MHI and Deloitte. On average, companies surveyed expect to invest heavily in new supply chain technologies over the next two years, with the top 17 percent spending over $10 million.  According to the 2015 MHI Annual Industry Report titled “Supply Chain Innovation — Making the impossible possible,” firms should embrace this transformation today and focus on investing in new technologies to help compete and thrive as their supply chains continue to face constant pressure to do more with less.   “The speed at which supply chain innovation is being adopted – coupled with rising consumer expectations for anytime, anywhere service – is stressing traditional supply chains to near-breaking points,” said George Prest, CEO of MHI, an international trade association that represents the material handling, logistics and supply chain industry. “Companies that continue to use traditional supply chain models will struggle to remain competitive and deliver orders that are accurate and on-time.”  The second MHI Annual Industry Report identifies the realities many companies face and the disrupters that are likely to drive even more change over the next 10 years. The report will be launched at MHI’s ProMat expo March 23-26 at McCormick Place South in Chicago. “Through this report, we aim to help companies identify these disruptive factors, find the best options, and make the right investments to manage their global supply chains,” said Prest.  Eight Technologies That Are Reshaping the Supply Chain Landscape The survey focused on eight technologies that are driving […]