Top 20 Trending Supply Chain Statistics in 2020Supply chain trends to watch in 2020 and beyond ...
Supply Chain Technology in 2020
For years futurists and prognosticators have had high expectations for the year 2020. And while you may not have a flying car parked in your driveway, our modern conveniences have radically changed the way we live. From the way we eat to how we watch TV, technology is constantly making our lives more convenient. But, behind these conveniences are some incredibly complex systems. Look no further than today’s retail supply chain.
The world’s retail supply chain has become incredibly complex. Shoppers have become accustomed to online shopping conveniences. That includes two-day shipping, click-to-store shopping, free returns, and a seamless omnichannel retail experience. The retail landscape is shifting fast. Thousands of stores are expected to close in 2020 alone. To keep up with these ongoing changes, retailers, distributors, and manufacturers need an efficient supply chain. A flexible supply chain helps brands stay ahead of the ever changing trends by providing speed an accuracy.
Here are 20 statistical trends to keep on eye on for 2020 and beyond.
- By the end of 2020, 50% of all manufacturing supply chains will have the capability, either in-house or outsourced, to enable direct-to-consumption shipments and home delivery. (IDC)
- More than 70% of chief supply chain officers believe by 2020, the supply chain will be a key driver of better customer service for their organizations. (Accenture)
- By 2020, 65% of e-commerce operations will make use of autonomous mobile robots within their order fulfillment processes, thus helping increase productivity by over 100%. (MHLnews)
- 80% of manufacturers will have multi-country operations by 2020. (Capgemeni)
- 85% of supply chain managers expect that their outsourcing budget will increase by more than 5% in 2020. (Logistics Management)
- In 2020, roughly 35% of global corporations will incorporate sustainability initiatives into their digital transformation strategy that will generate a competitive advantage and create more than 200 billion dollars in incremental value. (ToolsGroup)
- It is expected that 20% of IoT deployments will enable blockchain services by 2020. (IDC)
- As of January, 2020, retailers have so far confirmed at least 2,200 stores slated for closure in 2020. (Business Insider)
- By 2020, track-and-trace investments will have increased by 30% to improve forecast accuracy and customer experience metrics, and real-time order visibility will have become the norm for consumers. (MHLnews)
- Worldwide spending on robotics and drones is expected to reach $128.7 billion in 2020. This includes $112.4 billion on robotics alone. Pick and pack robots are expected to make up 9.6% of market share. (IDC)
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- Via a Zebra Technologies survey, 51% expected increased investment in real-time location systems that track inventory and assets throughout the warehouse last year, but this number escalates to 76% of respondents in 2020. (Zebra Technologies)
- A third of over 2,000 industrial companies have digitized their supply chains while nearly three-quarters expect to by 2020. (PwC)
- Omnichannel order fulfillment is steadily growing, and is expected to reach $3.7 billion by 2020. (Datex)
- Researchers expect e-commerce revenue in 2020 to reach $3.52 trillion. (ABI Research)
- The future of IoT is predicted to lead to a 15% productivity increase in the delivery and supply chain industry by 2020. (SelectHub)
- About 63% of manufacturers believe that applying IoT to products will increase profitability over the next five years and are set to invest $267 billion in IoT by 2020. (Forbes)
- 16% of all retail sales are expected to happen online in 2020. (Statista)
- Global ecommerce sales are expected to top over $4 trillion USD in 2020. (Shopify)
- As of 2020, 60% of companies have yet to fully implement their ecommerce strategy despite recognizing its importance. (DHL Logistics)
- Implementing RFID technology is expected to expand from 23% to 42% by 2020. (Zebra Technologies)
Deploying the Right Solutions
Deploying the right supply chain applications for your business is, of course, of critical importance to ensuring success. The supply chain is truly the backbone of any highly functioning brand. A highly organized supply chain provides the visibility, accuracy, and speed needed to turn the many challenges in the retail industry into profitable opportunities.
Interested in Adding RFID to Your Supply Chain?
Built on CYBRA’s expert system technology, Edgefinity IoT baseline alerts were developed utilizing the latest in RFID and RTLS (Real Time Tracking Systems) capabilities. Contact an RFID expert today to see how our technology can improve your organizational operations.