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Today's Topics:

• Chain, chain, chain: Chain of Tools
• Learning is earning: What are walk-in coolers made of?
• Bawls of steel: They don't make 'em like this anymore.

THE MAIN INGREDIENT

The revolution will not be televised

It's no secret that global supply chains are under unprecedented stress due to a combination of price inflation, labor shortages, and (fill in the blank).

As a result, building smarter supply chains has become a top priority for small businesses that depend on moving parts to produce finished goods and services.

Supply chain experts often speak about the emerging technological trends predicted to revolutionize the supply chain industry in the 2020's.

However, articles and reports dedicated to the subject are typically filled with so much industry jargon and acronym porn that readers often end up dazed and confused instead of informed and enlightened. 

You don't need a four-year degree in industrial engineering to understand how emerging supply chain technologies can help your business grow.

All you need is a few minutes of unfettered attention and a desire to learn more about the technological trends leading the Supply Chain Revolution and the restructuring of our fragmented global supply chains.

Artificial Intelligence

The ability to predict demand is one of the most important things a business can do to insulate its supply chain from disruption.

Properly predicting demand ensures you always have the right amount of products on hand - enough to avoid stock-outs and backorders, but not too much where the cost of storing additional inventory eats up your company's cash flows.

Predicting demand requires you to leverage artificial intelligence and machine learning to gather large amounts of data from multiple sources and analyze the data to help determine the right reorder frequencies and quantities.

In short, leveraging business intelligence software allows your supply chain to become more efficient, accurate, and profitable while removing human error.

Robotics

Automation isn't reserved just for intelligence software that helps businesses make better operational decisions. It's instrumental in completing manual tasks as well.

Autonomous mobile robots (AMRs), robots that can understand and move through their environment without being overseen directly by an operator or on a fixed predetermined path, are capable of performing labor-intensive tasks in a warehouse and distribution environment.

AMRs make processes and workflows more efficient and productive by performing menial tasks—such as transporting, picking up, and dropping off products—to free up humans to perform the tasks that add value to the product and operation.

Blockchain + The Internet of Things (IoT)

The blockchain, a list of transactions recorded on an immutable, distributed digital ledger, is already being used in a number of ways across many different sectors to track and trace assets, save time and resources, and reduce fraud.

According to this recent CNBC article, the blockchain, combined with the internet of things, will help drive retail food costs down by $31 billion in the next 3 years. 

Relying on opaque data, paper-based records, and suppliers' lies causes major supply chain inefficiencies. The blockchain and IoT open up supply chain transparency to help businesses make better decisions, set proper expectations, and become more efficient.

The Future is Here

For most of us, the future has never been as uncertain as it is today. What we do know is that supply chain disruptions are a big problem and they're not going away anytime soon.

Fixing the problem requires undoing decades of globalization and withstanding lots of pain in the process. It's a bumpy road, but one worth taking.

Going down the rabbit hole and learning more about the technological trends discussed here won't necessarily pave the road, but it will make the ride less bumpy.

Stay alert. Stay educated. And most importantly, stay cool.

Talk soon,
Old Man Winter

Recommended Reading: The United States Needs to Reshape Global Supply Chains

WHAT WE'RE READING

🦃 Your Thanksgiving Turkey Could Be the Most Expensive Ever: The USDA released data showing that the average wholesale price of a Grade A frozen 8-16 pound turkey has increased nearly 22% year-on-year.

📈 Two Thirds of Small Businesses Fear Inflation Will Hurt Recovery: Small business worries shifted from lockdowns to inflation and its higher order effects.

🐊 Why the University of Florida Gets a Substantial Cut of Gatorade's Profits Every Year: In 2015, UF announced it had accumulated $250 Million from the royalties.

LEARNING IS EARNING

What are Walk-in Coolers Made Of?

We all know walk-in coolers play a critical role in minimizing perishable loss for many types of businesses, including restaurants, convenience stores, floral businesses, and the pharmaceutical industry. 

But do you know exactly what a walk-in cooler is made of?

Take a few minutes to learn more about the three core components that make up these cool insulated boxes: https://blog.mrwinterinc.net/walk-in-cooler-parts

SCARED OF HEIGHTS

Lunch Atop a Skyscraper: The Story Behind the 1932 Photo is a short documentary that tells the backstory of the unsung heroes of construction.

They say a photo tells a thousand words. However, this iconic photo of eleven MEN casually sitting on a beam having lunch al fresco 800 feet above Manhattan only brings three to mind: BAWLS OF STEEL!

Surely, they don't make men like this anymore.

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