Why supply chains need to make the most of 5G to be resilient and future-proof

The trail of devastation unleashed by the outbreak of Covid-19 has broken the back of many well-established supply chains, thus reiterating the need for organizations across the globe to deepen visibility across various touch points. And this brings into play the much-talked-about 5G technology – a technology that promises a lot to drive supply chain innovation.

The technological capabilities of 5G technology bring so much to the table in propelling supply chain innovation. 5G for supply chains ensures ultra-low latency, exponentially faster data speeds, more reliability, massive network capacity, increased availability, more uniform user experience, etc. 5G 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. This technology can be deployed at a lower cost than in the past driving higher productivity through more advanced technology implementation and greater connectivity, speed, and reliability. According to a survey conducted by Ericsson, 5G is poised to witness rapid adoption and is expected to touch 190 million by 2020-end and are predicted to reach 2.8 billion by 2025.

5G will aid organizations to cope with various challenges such as real-time visibility, demand-supply imbalances, and fast-changing customer expectations. 5G technology can help organizations drive supply chain innovation by ensuring their supply chains are resilient and future-proof. Clearly, 5G is not a tech statement to boast about but a business necessity given the prevailing market challenges and cut-throat competition.

The emergence of various digital technologies has the potential to propel supply chain innovation by leveraging 5G. For instance, the Internet of Things (IoT) can facilitate 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. Further, the logistics industry can hugely benefit by leveraging 5G as it can enable logistics companies to label, track, and record all shipments automatically and effectively resolve issues such as lost cargo, misplaced items, etc.

The might of 5G technology is poised to drive enhanced efficiencies across supply chains. The coming times will witness 5G fuel supply chain innovation and enable organizations to put in place supply chains that can effectively deal with all kinds of disruptions in coming times.