News (3576)

New Study Reveals Shocking Growth in Cognitive Supply Chain Market

A recent study conducted by Future Market Insights, Inc. predicts a staggering 15.6% surge in the cognitive supply chain market, reaching a whopping US$ 40.4 billion by 2034. This groundbreaking research highlights the increasing demand for advanced technology in supply chain management, with a focus on cognitive solutions that utilize artificial intelligence and machine learning. The study also delves into the potential impact of this growth on various industries and the global economy as a whole.


Want to Boost Profits? Check Out These 3 Supply Chain Cost-Cutting Tactics

In today's competitive business landscape, companies are constantly looking for ways to increase profits and decrease costs. According to Forbes, supply chain leaders are under pressure to achieve both of these goals while also scaling up production. This can be a daunting task, especially when faced with challenges such as geopolitical uncertainty and fluctuating raw material prices. However, there are a few strategies that can help reduce supply chain costs and improve efficiency. One of these is implementing engineering changes automation, which can significantly improve cycle times and reduce costs.


Exiger Named Strategic Technology Partner for U.S. Government

The U.S. Partnership for Assured Electronics has chosen Exiger as its strategic technology partner to promote access to resilient and trusted electronics supply chains for the U.S. government. This partnership aims to ensure the security and reliability of electronic components used in critical government systems and infrastructure. With Exiger's advanced technology and expertise, the U.S. government can have confidence in the integrity of its electronics supply chain.


Digital Supply Chain Market is Set to Reach $12.1 Billion by 2032

The digital supply chain market is rapidly expanding, driven by the latest technology and digital transformation solutions. According to DataHorizzon Research, this market was valued at $4.3 billion in 2022 and is expected to reach $12.1 billion by 2032 with a growth rate of 10.9%. This market is a game-changer for businesses looking to optimize their supply chain operations and gain a competitive edge. By integrating cutting-edge technologies such as the IoT, AI, data analysis, big data, and cloud computing, the digital supply chain streamlines and improves supply chain operations. This is a key component of Logistics 4.0, also known as smart logistics, which includes predictive and prescriptive analytics and process integration in the logistics industry.


Digitalization Trends That Will Revolutionize the Supply Chain in 2024

Logistics Management recently published an article that looks back at the top news in logistics and supply chain from the past year. The editorial team presented the top 10 logistics stories that shaped 2023, including the impact of the pandemic on the industry, the rise of e-commerce, and the introduction of bipartisan supply chain-focused legislation. Additionally, the article discussed the latest trends in port tracking, the services sector, and robotics technology.


Verusen Wins Multiple Awards for Supply Chain Industry Excellence

Verusen, a global MRO materials intelligence innovator, has been honored with two leading technology awards for supply chain industry excellence. The company was recognized as a winning company in the ‘Top Tech Startup’ category for the supply chain and logistics space by leading industry publications Food Logistics and Supply & Demand Chain Executive. Verusen also won a Top Software & Tech Award for its AI-powered Trusted Supply in the Procurement/ERP category. The awards recognize Verusen's success in helping customers use advanced data science and AI to harmonize disparate material data across multiple enterprise systems. This helps organizations collaborate, optimize working capital, and lower risk across their supply network.


Global Cognitive Supply Chain Market to Reach USD 31.10 Billion By 2032

The Global Cognitive Supply Chain Market is projected to reach USD 31.10 Billion by 2032, according to a new report by Polaris Market Research. The market is expected to grow at a CAGR of 15.6% during the forecast period 2021-2032. Cognitive supply chain is a combination of cognitive computing, artificial intelligence, and machine learning to automate the supply chain process. The cognitive supply chain is used to improve the efficiency of the supply chain process and reduce the cost of production.


Autonomous Vehicle Logistics Revolutionizing Supply Chain

Venti Technologies, a world leader in autonomous vehicle logistics for global supply chain and industrial and logistics yards, was recently recognized as a winner of Food Logistics and Supply & Demand Chain Executive's Top Tech Startups award. This award spotlights top software and technology startups in the supply chain and logistics space. Venti Technologies' AI algorithms are applied to its core autonomy solution and are able to work with any vehicle in any closed environment, such as ports, airports, warehouses, and factories. The company's solutions have extended robotics applications in logistics by developing lane markings as an independent object category for navigation.


Unlock Supply Chain Complexity and Achieve Success

Supply chain complexity can be a major challenge for businesses. According to Yahoo Finance, the U.S. markets closed with the S&P 500 at 4,554.89 and the Dow Jones at 35,416.98. Both the S&P 500 and Dow Jones saw a slight increase of 0.10% and 0.24%, respectively. This indicates that businesses may be overcoming supply chain complexity and achieving success.


President Biden Announces New Actions to Strengthen America's Supply Chains

President Joe Biden recently announced new actions to strengthen America's supply chains, lower costs for families, and secure key sectors. The White House released a fact sheet outlining the new actions, which include improving the resilience of the supply chain, increasing the production of critical goods, and investing in research and development. The President also announced a new initiative to help small businesses better compete in the global economy. The initiative will provide resources to help small businesses access capital, increase their exports, and create jobs.


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