5G at the forefront of driving supply chain innovation!

The power of 5G is immense and promises to drive enhanced efficiencies across supply chains. Global supply chains are grappling with a myriad of challenges such as real-time visibility, demand-supply imbalances, and fast-changing customer expectations. The emergence of digital technologies has a gargantuan potential to ensure supply chains are more efficient, cost-effective, and error-free. This brings into focus the might of 5G technology and how it can drive supply chain innovation by helping organizations ensure their supply chains are agile, resilient, and future-proof.

5G for supply chains is not a nice-to-have thing but an absolute business imperative for organizations looking to put in place future-ready supply chains that can effectively deal with disruptions along the way. Let us try and understand where there is so much talk about the 5G technology enabling supply chain innovation. Well, it is largely because 5G carries several positive attributes over 4G. The 5G technology is smarter, faster, and efficient than the 4G technology.

5G for supply chains ensures ultra-low latency, exponentially faster data speeds, more reliability, massive network capacity, increased availability, more uniform user experience, etc –it can facilitate supply chain innovation by offering speeds up to 100 gigabits per second and is said to be as much as 100 times faster than 4G.

One can well imagine the value organizations will derive by leveraging the 5G technology. According to a survey conducted by Ericsson, 5G is poised to witness rapid adoption. The survey states that 5G subscriptions are expected to touch 190 million by 2020-end and are predicted to reach 2.8 billion by 2025.

Supply chain innovation will be driven to the next level by the 5G technology via adopting digital technologies such as the Internet of Things (IoT), robotics, and drones across the supply chain. IoT technologies can enable supply chain innovation by identifying chips, sensors, communication devices, cloud computing networks, and data analytics engines all working in unison to drive better decision-making.

5G can help organizations drive better visibility across their supply chains, assisting organizations to streamline their operations and scale up production. 5G can drive substantial cost-savings for various supply chain stakeholders. 5G can enable logistics companies to label, track, and record all shipments automatically and effectively resolve issues such as lost cargo, misplaced items, etc.

Clearly, 5G is a powerful weapon for driving supply chain innovation and serve as a catalyst in ensuring future-ready supply chains.

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