Business View Magazine Feb 2023

75 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 2 Each member of this committee spends months reviewing the literature, discussing potential topics and rigorously scoring each trend using an exacting methodology. All trends are then aligned to the seven primary processes of the benchmark SCOR Digital Standard (SCOR DS): orchestrate, plan, order, source, transform, fulfill and return. In the ultimate top 10, a few trends have had staying power since 2022, but there are some key new topics that supply chain professionals must be aware of. These include advances in data analysis, an increased focus on resilience, and an emphasis on sustainable business practices. The number-one trend for 2023 is big data and analytics, which aligns most closely with the planning stage of the SCOR DS benchmark. The topic of data analysis in the supply chain has been consistently perceived as an important trend, as the rapid growth of technology is a boon to data collection. Delivery services, inventory analysis, social media platforms, third-party cloud platforms, the internet of things, and business transactions are all providing business leaders with vast amounts of data; however, organizations still need to sort and analyze it, which is where advanced analytics and automation come in. For example, supply chain analysts point out that advanced data analytics and artificial intelligence (AI) tools can predict a range of unexpected disruptions and improve demand forecasting. For example, there has been a lot of concern over the past few years about a shortage of semiconductors, due to a dearth of manufacturers and the expense of materials, among other reasons. According to a recent article published by CNBC, semiconductor distributor Rand Technology uses AI to connect customers with a supply surplus to potential buyers. It also employs advanced analytics to spot trends, such as price increases or production change notices, and determine how much buffer stock a buying company might want to secure. Furthermore, big data helps coordinate ASCM ASSOC I AT ION OF SUPPLY CHA IN MANAGEMENT