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Reimagine Supply Chain Challenges in 2024 – Best Business Practices

best business practices for supply chain challenges

In his most recent contribution to FM Business Daily, Andrew Johnson, CEO and Founder of ShelfAware, discusses some of the key manufacturing trends as we enter 2024 and offers practical business advice about how supply chain disruptors may affect those trends.

We often talk about manufacturing trends and how they affect supply chains in the industrial space. However, simply addressing the trends is not enough. It’s important to respond to them in a practical and effective way.

What can manufacturing facility managers count on in 2024?

One thing is certain—technology and innovation will continue to play a significant role to support manufacturing facilities who are looking to address these complex challenges. As labor and talent shortages certainly top the list for many in 2024, other trends exist as well. To overcome these issues, many companies are embracing a smart factory approach to attract the next generation of manufacturing employees.

Practical Business Advice for Tackling Manufacturing Trends in 2024

In his most recent subject matter expert article in FM Business Daily, Andrew Johnson discusses the manufacturing trends that industrial companies should focus on as we enter 2024.

In the article, he discusses in detail some key practical business advice, which includes encouraging facility managers to avoid focusing on every trend. Instead, it’s a good idea to identify a few of them that will have the biggest positive impact for your organization and work on solutions for those challenges first.

In addition, he recommends assembling a diversified team to tackle small innovation projects, understanding that early innovators will be rewarded in this turbulent market.

Identifying Top Manufacturing Trends in 2024

The complexities of managing supply chains continue to persist, and reimagining how to tackle those challenges will make the difference for many industrial companies. Manufacturers are pivoting toward digital solutions like supplier managed inventory services to introduce automation in an inexpensive yet robust way. The past few years have proven that the companies who have invested in supply chain automation have gained a competitive edge.

Leveraging digital technologies and innovations in 2024 includes embracing a smart factory approach. Manufacturers can improve agility, resilience, and efficiency by leveraging digital solutions and by exploring the 4th Industrial Revolution. Companies are also investing in digital technologies that create new and enhanced aftermarket offerings that could lead to revenue-generating opportunities.

Another key trend is utilizing data-driven decision making. Sensors, remote monitoring, the Internet of Things, connected devices, and RFID-powered technologies like the one used in ShelfAware’s supply chain solution are providing essential data that lead to critical and improved decision making. These kinds of data-driven opportunities lead to improved efficiency and more productive operations.

For a full list of manufacturing trends to watch in 2024, read the full article

Are You Ready to Innovate Your Supply Chain?

Digitizing inventory doesn’t have to be an expensive or overwhelming task. In fact, with a platform like ShelfAware, suppliers and consumers can reduce their carbon footprint, make more money with less worries, and eliminate stockouts with an easy-to-manage, cloud-based digital vender management inventory system.

Try a digital VMI platform like ShelfAware for a sustainable solution to supply chain management.

Want to learn more about an affordable way to automate your supply chain? Request your free ShelfAware demo. 

Too good to be true?  ShelfAware is redefining the vendor-managed inventory industry. For this reason, we’re happy to talk to you about how our intelligent inventory platform can benefit your business. Contact us today for more information.

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