Suppliers Preparing for Diffusion
https://www.forbes.com/sites/yasamankazemi/2018/11/14/the-new-supply-chain-four-ways-smart-leaders-can-shake-up-logistics/#32e7aa684d18
In this article, Yasaman Kazemi briefly comments on the evolving practices of large supply chains. Consumers expect their suppliers to deliver incredibly quick service. On the supply end, this “simple” task manifests itself as a slew technological innovations. Suppliers monitor every step of their supply chain on a digital network, use AI and machine learning to predict booms in demand for a new product before they occur, and use blockchain technology to prevent costly national recalls of faulty or tainted products. These are steps that companies did not and were not capable of taking in the past, but now appear necessary.
Companies recognize the importance of capitalizing on cascades. On top of trying to predict how far a cascade will go in respect to a successful product, suppliers must also try to predict when it will start because consumers expect their products to be ready and delivered faster than ever before. Think of Amazon Prime, which has forced all the other companies in its field to try and offer competitive services. Today, a cascade can stop because a supplier can’t meet demand and another supplier comes in and steals part of the market. This is why the new technologies outlined in the article are so important for companies that want to take full advantage of a cascade. Especially because so many technological products being offered today aren’t unique for their service as much as their style.