KEY TAKEAWAYS
- Discover how the supply chain predicts problems before they happen
- Understand the concept of less waste, more savings and safer products, and happier patients
- Learn the future of the supply chain
Have you ever thought about the things we need, like the latest tech products or even life-saving supplies, how do they come so easily into our hands? You might have guessed by the title, yes, the answer is supply chain. When hospitals need medical equipment, surgical supply wholesalers work as true heroes.
Even now, the global supply chain management industry is projected to grow at a CAGR of approximately 11.1%, from an estimated $40.15 billion in 2024 to 85.3 billion by 2033.
But things are changing, and so is the supply chain. Now it is becoming faster and smarter with tech.
With the help of this article, let’s learn more about it.
Have you ever wondered how those tiny computer chips are made? Of course, the process is too difficult, but the effort to get all the parts to make the chip is more difficult. Even if a single part is delivered late, it can delay the entire process of making that chip.
That is why chip makers now use intelligent systems to track all the parts and see where each part is. This simply solves the problem of delay.
If there is any industry where time is everything, that is healthcare. Imagine a hospital running out of important supplies even when they needed them the most. Sounds like a nightmare, right?
This is where surgical wholesale suppliers come in. These suppliers use new tools to make sure they always have the right items in stock. For example, if a hospital needs bundles of cotton and bandages, smart inventory technology will track what they have and what they are running low on and order the needed supplies.
Predicting the future sounds great, not exactly possible, but in the supply chain, we are really close to it. It becomes possible with predictive analytics, with the help of this, data and trends help the company see issues before they happen.
Proactive solution: Companies can avoid stock and delay by preparing themselves in advance.
Resource Allocation: By knowing what is going to happen, organizations allot their resources carefully.
Just because hospitals or any other field don’t run out of supplies, wholesale suppliers usually stock too many products, which eventually leads to unused or expired products.
But things are changing now; these suppliers are using advanced technology, which helps them predict customers’ demand more accurately. Which means more savings of money and space, and less product space.
In healthcare, even a small mistake can create big blunders. Even a small broken or damaged product can risk a patient’s life. Thanks to technology, now the chances of this risk are decreasing.
Technology is growing, and one of the reasons behind its growth is its ease of use. The workers and suppliers do not have to do any courses or hire a tech expert to use these technologies.
Also, these tools help everyone, no matter whether it is a very big supply chain or just a small one.
So what is the future supply chain? Sure, predicting everything that is going to happen in the future is quite impossible, but yeah, this field is growing, and we might be able to see this growth in the future, like delivery drones or robots.
Also, as the environment is not in too good condition right now, in the future, there might be technologies that can help make all the processes more eco-friendly, from supplying silicon chips to shipping surgical supplies.
The supply chain is a very important part of many fields, whether it is in the healthcare field for medical supplies or the electronics field for chips.
With time, this field needed something to make the process faster and more accurate, and tech came to the rescue. This makes both wholesale suppliers and receivers (hospitals, electronic making companies) happy and satisfied.
No, it will not totally replace it, but it will help in automating routine tasks and enhancing efficiency.
China dominates it globally because of its manufacturing scale, infrastructure, and skilled labor.
They are sensor-enabled IoT, blockchain, AI, and advanced analytics, composite software solutions, etc.
Amazon’s E-commerce operation is a good real-life example.
