Blockchain discussion is everywhere. Starting in 2017 when the concept gained momentum, many industry-wide applications have emerged. The decentralized ledger technology that is the basis of blockchain has brought scalability, enhanced speed of transactions and improved security and will, without doubt, transform the world. With these advantages, industry leaders are now exploring possible ways that they can use this technology to their advantage.

The rise of IoT will significantly change many industries. However, companies that use IoT devices have faced various challenges mainly due to high cost of these devices. Companies in inventory and supply chain management have in the past experienced increased spending, and this is likely to go on between now and 2023. The increase in spending will result from new models of business that include software and products-as-a-service. The reduced cost of IoT sensors, increased connectivity and emerging software will be the leading areas that manufacturers will take advantage of going forward.

Ever since the emergence of supply chain technology decades ago, there have been various views flying around on the impact of technology in the supply chain. While some people seem to suggest that technology will significantly hurt supply chain businesses, many argue that technology will provide opportunities yet to be explored. The truth however is that the mix of technology and people will result in so many more opportunities although it is no secret that some people will lose their jobs.