Understanding customers and anticipating their demands ahead of time is fast becoming the big differentiator in the logistics and supply chain sector. But that means embracing technology in all its forms, according to logistics and supply chain expert Professor James Stock of the University of South Florida. On a recent visit to South Africa Stock said it was fast becoming apparent that software was the distinguishing factor that would ultimately dominate the market place. “Companies willing to pay for the best software that would allow them the use of various technologies are moving ahead. It is for this reason that one must welcome initiatives such as cloud technology. It will allow smaller companies to compete in this space as they will be able to access the newest technologies without necessarily having to incur the fixed costs of maintenance upgrades and infrastructure expenditure.” Stock said technology was playing a major role in the logistics of the modern day business. “Pharmaceutical giant Pfizer, for instance, used RFID technology to tag the drug Viagra – not because they wanted to know where the drugs were at any given time, but for brand protection. With so many counterfeits available, they wanted to track their product to protect their brand.” He said tracking systems remained one of the top supply chain technology trends, allowing for up-to-date information sharing. But an added benefit is greater security in the supply chain. “Through the effective use of technology – software and systems – you can interpret your data much more quickly and effectively which all in all allows you to anticipate the demands of your customers ahead of time.” INSERT Cloud technologies will enable smaller companies to access newest technologies.
