Supply chain and logistics industry is going through a tremendous transformation made possible by innovation and new technology. Such transformation is causing customers to increasingly demand more. Consequently, competition is heating up and logistics providers are doing everything within their power to stay in the market. Technological advancements are the leading differentiators that companies are exploiting in the industry.

5G technology is here with us and is already causing a lot of discussions and eliciting reactions from different industries. 5G wireless connectivity is expected to bring benefits to the supply chain through many fronts that will make processes and operations faster, easier, and more efficient. To begin with, the Fifth Generation Wireless System (5G) is a successor of 4G and will employ signal wavelengths in ranges between 30 to 300 GHz to enhance the speed of data transfer and reduce the levels of interference and interruption.

With the rising globalization of different operations from manufacturing all the way to warehousing, having a network of procurement which is capable of supporting and reacting to the needs of the supply chain is a challenge. In fact, many procurement professionals believe that selecting a supplier who is capable of providing manufacturing locations consistently and offering a reliable service is a challenge. Effective management of the supply chain enables businesses to track products and raw materials required for the manufacture of their products. It also enhances optimization of inventory levels and reduces costs which in the process lead to synchronized supply and demand.