Supply chains have become complex, global, and risky. They have also become critical for a company’s top and bottom lines. Multiple studies show that profitability is significantly higher among players with high-level supply chain leadership, excellent supply chain design and management, and a great understanding of how to use technology.

Technology is reshaping the supply chain world in all areas, with supplier management systems now allowing for more control, scrutiny, and reporting. Demand planning is getting more sophisticated. And the risk and compliance management field is exploding. Yet, we are only at the beginning of the revolution.

Over the next decade, companies like ALOM will gain even more visibility in the supply chain ecosystem. Supplier management systems like ours will help manufacturers make better decisions and optimize their supply chains further. Instead of drowning in data, it’s vital to focus on planning and setting expectations in the event that something may go wrong. This transparency will move beyond tracking numbers and include environmental information such as whether a pharmaceutical product is kept within the necessary temperature range, or whether a product is expiring.

The next supply chain revolution will be in predictive analysis. The Internet of Things (IoT) will help us predict the future and plan better. We will be able to see what is selling in any part of the world in real time. Demand planning, now a sore spot in most companies, will improve greatly.

Smart buildings and smart products will support the environment, as will optimized supply chains. Smart manufacturing is about making smart products. Some industries may suffer as technology makes their products obsolete — if a drone can spot a body in a burning building, why put a firefighter in harm’s way? Markets will shift as we have already seen, and new opportunities will open up.

All these tools need to be developed, set up, and programmed to provide the desired output. With an expected 2 million jobs left unfilled in supply chain over the next decades, we will all fight for the talent that will help support this technology revolution.