AUGUST 2024

August 2024

WHATS NEW?!

Good Morning, Good Evening, and Goodnight,

Welcome back to another market update, in this journal I’m going to talk about the supply chain events in a retrospect of this month. August’s journal will be focused in Quantum computing for supply chain . The sole purpose for me to do this is to spark a conversation with you in the future and maybe gain perspective of your thoughts and strategies. 

“The first step is to establish that something is possible; then probability will occur.”-Elon Musk

In this journal I’m going to Daiiv into supply chain updates, market insights, and more into innovations. This is the eight journal for 2024, and it marks a year anniversary that I have been doing these journals! This journal will be significantly shorter as I have been travelling recently. I’m excited to share that all my journals are published on my personal website: Daiviksuresh.com

A direct link to all my journals is here: CLICK ME!

(My close network gets PDF journals as soon as they are written, if you would like to be a part of that thread find the best way to connect with me through my website!)

Warning: Market talk ahead. This is not financial advice; most investments carry a risk of losing some or all of the invested capital.

Quantum Computing in Supply Chain

In my previous journal I wrote June linked here, I talk about quantum computing in the field of logistics. But since this topic has piqued my interest lets delve right in. There are many use cases for quantum computing, but since we are focused on supply chain this is what we can best use this technology for:

1. Optimization and Route scheduling– (June Journal focuses into this.)
   1. Improve efficiency of routing and scheduling in logistics. As well as advance vehicle routing problems to minimize transportation costs while meeting demand.
2. Inventory Management-
   1. Quantum algorithms can help balance over stocking and under stocking by optimizing order quantities and inventory levels. This ensures SC (Supply Chains) are more response and cost-effective.
3. Demand Forecasting-
   1. Quantum computing can enhance the accuracy of demand forecasting by processing vast amounts of data and identifying patters that are not eastly detectable by classical methods.
4. Supply Chain Network Design-
   1. Quantum computing can optimize the design of supply chain networks, including facility location, fleet size and mix. Leading to more cost-effective logistics.
5. Cargo Loading and Stowage:
   1. Quantum algos can help track maritime cargo containers (July Journal talks about Maritime Cargo) and optimize storage within the ports.
6. Real-Time Data Processing-
   1. Quantum computing enables real time processing of vast amounts of data. This can be used with digital twins (May Journal focuses into this).
7. Sustainability-
   1. One of the most important topics in SCM practices. By optimizing various aspects of SC, quantum computing can help reduce waste and improve resource utilization.

There have been recent developments in quantum computing and its impact on supply chains. The race for who can build the first quantum computer successfully is marathon rather than a sprint. It is constantly in kaizen and will take its time to show us what it is really capable of. 

If you would like to contact me, please navigate through my website, and find the best way to connect!  

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Sources 

Quantum Computing
May Journal
June Journal
July Journal

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Written By:

-DAIVIK SURESH-