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Profession

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https://en.wikipedia.org/wiki/Profession

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A profession is a disciplined group of individuals who adhere to ethical standards and who hold themselves out as, and are accepted by the public as possessing special knowledge and skills in a widely recognised body of learning derived from research, education and training at a high level, and who are prepared to apply this knowledge and exercise these skills in the interest of others.[1] [2]

Professional occupations are founded upon specialized educational training, the purpose of which is to supply disinterested objective counsel and service to others, for a direct and definite compensation, wholly apart from expectation of other business gain.[3] Medieval and early modern tradition recognized only three professions: divinity, medicine, and law,[4][5] which were called the learned professions.[6] A profession is not a trade[7] and not an industry.[8]

The term profession is a truncation of the term liberal profession, which is, in turn, an Anglicization of the French term profession libérale. Originally borrowed by English users in the 19th century, it has been re-borrowed by international users from the late 20th, though the (upper-middle) class overtones of the term do not seem to survive re-translation: "liberal professions" are, according to the European Union's Directive on Recognition of Professional Qualifications (2005/36/EC), "those practised on the basis of relevant professional qualifications in a personal, responsible and professionally independent capacity by those providing intellectual and conceptual services in the interest of the client and the public".

Some professions change slightly in status and power, but their prestige generally remains stable over time, even if the profession begins to have more required study and formal education.[9] Disciplines formalized more recently, such as architecture, now have equally long periods of study associated with them.[10]

Although professions may enjoy relatively high status and public prestige, not all professionals earn high salaries, and even within specific professions there exist significant differences in salary. In law, for example, a corporate defense lawyer working on an hourly basis may earn several times what a prosecutor or public defender earns.

Contents

Formation

A profession arises through the process of professionalization when any trade or occupation transforms itself through "the development of formal qualifications based upon education, apprenticeship, and examinations, the emergence of regulatory bodies with powers to admit and discipline members, and some degree of monopoly rights."[11]

Major milestones which may mark an occupation being identified as a profession include:[5]

  1. an occupation becomes a full-time occupation

  2. the establishment of a training school

  3. the establishment of a university school

  4. the establishment of a local association

  5. the establishment of a national association of professional ethics

  6. the establishment of state licensing laws

Applying these milestones to the historical sequence of development in the United States shows surveying achieving professional status first (note that George Washington, Thomas Jefferson, and Abraham Lincoln all worked as land surveyors before entering politics[12][13][14]), followed by medicine, actuarial science, law, dentistry, civil engineering, logistics, architecture and accounting.

With the rise of technology and occupational specialization in the 19th century, other bodies began to claim professional status: mechanical engineering, pharmacy, veterinary medicine,

psychology, nursing, teaching, librarianship, optometry and social work, each of which could claim, using these milestones, to have become professions by 1900.[16]

Regulation

Main article: Professional body

Originally, any regulation of the professions was self-regulation through bodies such as the College of Physicians or the Inns of Court. With the growing role of government, statutory bodies have increasingly taken on this role, their members being appointed either by the profession or (increasingly) by the government. Proposals for the introduction or enhancement of statutory regulation may be welcomed by a profession as protecting clients and enhancing its quality and reputation, or as restricting access to the profession and hence enabling higher fees to be charged. It may be resisted as limiting the members' freedom to innovate or to practice as in their professional judgement they consider best.

An example was in 2008, when the British government proposed wide statutory regulation of psychologists. The inspiration for the change was a number of problems in the psychotherapy field, but there are various kinds of psychologists including many who have no clinical role, and where the case for regulation was not so clear. Work psychology brought especial disagreement, with the British Psychological Society favoring statutory regulation of "occupational psychologists" and the Association of Business Psychologists resisting the statutory regulation of "business psychologists" – descriptions of professional activity which it may not be easy to distinguish.

Besides regulating access to a profession, professional bodies may set examinations of competence and enforce adherence to an ethical code. There may be several such bodies for one profession in a single country, an example being the accountancy bodies of the United Kingdom (ACCA, CAI, CIMA, CIPFA, ICAEW and ICAS), all of which have been given a Royal Charter, although their members are not necessarily considered to hold equivalent qualifications, and which operate alongside further bodies (AAPA, IFA, CPAA). Another example of a regulatory body that governs a profession is the Hong Kong Professional Teachers Union, which governs the conduct, rights, obligations, and duties of salaried teachers working in educational institutions in Hong Kong.

The engineering profession is highly regulated in some countries (Canada and USA) with a strict licensing system for Professional Engineer that controls the practice but not in others (UK) where titles and qualifications are regulated Chartered Engineer but the practice is not regulated.

Typically, individuals are required by law to be qualified by a local professional body before they are permitted to practice in that profession. However, in some countries, individuals may not be required by law to be qualified by such a professional body in order to practice, as is the case for accountancy in the United Kingdom (except for auditing and insolvency work which legally require qualification by a professional body). In such cases, qualification by the professional bodies is effectively still considered a prerequisite to practice as most employers and clients stipulate that the individual hold such qualifications before hiring their services. For example, in order to become a fully qualified teaching professional in Hong Kong working in a state or government-funded school, one needs to have successfully completed a Postgraduate Diploma in Education ("PGDE") or a bachelor's degree in Education ("BEd") at an approved tertiary educational institution or university. This requirement is set out by the Educational Department Bureau of Hong Kong, which is the governmental department that governs the Hong Kong education sector.

Autonomy

Professions tend to be autonomous, which means they have a high degree of control of their own affairs: "professionals are autonomous insofar as they can make independent judgments about their work".[17] This usually means "the freedom to exercise their professional judgement."[18]

However, it also has other meanings. "Professional autonomy is often described as a claim of professionals that has to serve primarily their own interests...this professional autonomy can only be maintained if members of the profession subject their activities and decisions to a critical evaluation by other members of the profession."[19] The concept of autonomy can therefore be seen to embrace not only judgement, but also self-interest and a continuous process of critical evaluation of ethics and procedures from within the profession itself.

One major implication of professional autonomy is the traditional ban on corporate practice of the professions, especially accounting, architecture, medicine, and law. This means that in many jurisdictions, these professionals cannot do business through regular for-profit corporations and raise capital rapidly through initial public offerings or flotations. Instead, if they wish to practice collectively they must form special business entities such as partnerships or professional corporations, which feature (1) reduced protection against liability for professional negligence and (2) severe limitations or outright prohibitions on ownership by non-professionals. The obvious implication of this is that all equity owners of the professional business entity must be professionals themselves. This avoids the possibility of a non-professional owner of the firm telling a professional how to do his or her job and thereby protects professional autonomy. The idea is that the only non-professional person who should be telling the professional what to do is the client; in other words, professional autonomy preserves the integrity of the two-party professional-client relationship. Above this client-professional relationship the profession requires the professional to use their autonomy to follow the rules of ethics that the profession requires. But because professional business entities are effectively locked out of the stock market, they tend to grow relatively slowly compared to public corporations.

Status, prestige, and power

Main article: Occupational prestige

Professions tend to have a high social status, regarded by society as highly important.[20] This high esteem arises primarily from the higher social function of their work. The typical profession involves technical, specialized, and highly skilled work. This skill and experience is often referred to as "professional expertise." In the modern era, training for a profession involves obtaining degrees and certifications. Often, entry to the profession is barred without licensure. Learning new skills that are required as a profession evolves is called continuing education. Standards are set by states and associations. Leading professionals tend to police and protect their area of expertise and monitor the conduct of their fellow professionals through associations, national or otherwise. Professionals often exercise a dominating influence over related trades, setting guidelines and standards.[21] Socially powerful professionals consolidate their power in organizations for specific goals. Working together, they can reduce bureaucratic entanglements and increase a profession's adaptability to the changing conditions of the world.[22]

Sociology

Émile Durkheim argued that professions created a stable society by providing structure separate from the state and the military that was less inclined to create authoritarianism or anomie and could create altruism and encourage social responsibility and altruism. This functionalist perspective was extended by Parsons who considered how the function of a profession could change in responses to changes in society.[23]: 17 

Theories based on conflict theories following Marx and Weber consider how professions can act in the interest of their own group to secure social and financial benefits were espoused by Johnson (Professions and Powers, 1972) and Larson (The Rise of Professionalism, 1977). One way that a profession can derive financial benefits is limiting the supply of services.[23]: 18 

Theories based on discourse, following Mead and applying ideas of Sartre and Heidegger look at how individuals understanding of reality influence the role of professions. These viewpoints were espoused by Berger and Luckmann (The Social Construction of Reality, 1966).[23]: 19 

Esther Lucile Brown, an anthropologists, studied various professions starting the 1930s while working with Ralph Hurlin at the Russell Sage Foundation. She published Social Work as a Profession in 1935, and following this publications studying the work of engineers, nurses, medical physicians and lawyers. In 1944, the Department of Studies in the Professions was created at the Russell Sage Foundation with Brown as its head.[24]: 183 

System of professions

Andrew Abbott constructed a sociological model of professions in his book The System of Professions. Abbott views professions as having jurisdiction over the right to carry out tasks with different possession vying for control of jurisdiction over tasks.[25]

A profession often possesses an expert knowledge system which is distinct from the profession itself. This abstract system is often not of direct practical use but is rather optimized for logical consistency and rationality, and to some degree acts to increase the status of the entire profession. One profession may seek control of another profession's jurisdiction by challenging it at this academic level. Abbott argues that in the 1920s the psychiatric profession tried to challenge the legal profession for control over societies response to criminal behavior. Abbott argues the formalization of a profession often serves to make a jurisdiction easier or harder to protect from other jurisdictions: general principles making it harder for other professions to gain jurisdiction over one area, clear boundaries preventing encroachment, fuzzy boundaries making it easier for one profession to take jurisdiction over other tasks.

Professions may expand their jurisdiction by other means. Lay education on the part of professions as in part an attempt to expand jurisdiction by imposing a particular understanding on the world (one in which the profession has expertise). He terms this sort of jurisdiction public jurisdiction. Legal jurisdiction is a monopoly created by the state legislation, as applies to law in many nations.

Characteristics

There is considerable agreement about defining the characteristic features of a profession. They have a "professional association, cognitive base, institutionalized training, licensing, work autonomy, colleague control... (and) code of ethics",[26] to which Larson then also adds, "high standards of professional and intellectual excellence," (Larson, p. 221) that "professions are occupations with special power and prestige", (Larson, p.x) and that they comprise "an exclusive elite group," (Larson, p. 20) in all societies. Members of a profession have also been defined as "workers whose qualities of detachment, autonomy, and group allegiance are more extensive than those found among other groups...their attributes include a high degree of systematic knowledge; strong community orientation and loyalty; self-regulation; and a system of rewards defined and administered by the community of workers."[27]

A profession has been further defined as: "a special type of occupation...(possessing) corporate solidarity...prolonged specialized training in a body of abstract knowledge, and a collectivity or service orientation...a vocational sub-culture which comprises implicit codes of behavior, generates an esprit de corps among members of the same profession, and ensures them certain occupational advantages...(also) bureaucratic structures and monopolistic privileges to perform certain types of work...professional literature, legislation, etc."[28]

A critical characteristic of a profession is the need to cultivate and exercise professional discretion - that is, the ability to make case by case judgements that cannot be determined by an absolute rule or instruction.[29]

See also

References

  1. ^ "What is a Profession". Australian Council of Professions 2003. Retrieved 19 February 2020.

  2. ^ "What is a Profession". Professional Standards Council. Retrieved 9 August 2018.

  3. ^ New Statesman, 21 April 1917, article by Sidney Webb and Beatrice Webb quoted with approval at paragraph 123 of a report by the UK Competition Commission, dated 8 November 1977, entitled Architects Services (in Chapter 7).

  4. ^ Popat, Nitin. Introduction to Accounting. ISBN 9781329911642. Retrieved 10 September 2016.

  5. ^ Jump up to:a b Perks, R.W.(1993): Accounting and Society. Chapman & Hall (London); ISBN 0-412-47330-5. p.2.

  6. ^ See for example: Fisher, Redwood, ed. (August 1846). "Statistics of the State of New-York". Fisher's National Magazine and Industrial Record. 3 (3): 234. Retrieved 17 August 2013. [...] the three learned professions of divinity, law, and medicine [...]

  7. ^ John J Parker, "A Profession Not a Skilled Trade" (1955-1956) 8 South Carolina Law Quarterly 179 HeinOnline; Sommerlad, Harris-Short, Vaughan and Young (eds), The Futures of Legal Education and the Legal Profession, Bloomsbury, 2015, p 147; Richard Colman, "Medicine is a profession not a trade", British Medical Journal, 7 October 2001; A M Linz, "A profession, not a trade" (December 1990) New York State Dental Journal 56(10):16 PubMed; E. G. Eberle, "The practice of medicine held to be a profession and not a trade" (August 1939) 28 Journal of the American Pharmaceutical Association 482 Wiley; Wendler, Tremml and Buecker (eds), Key Aspects of German Business Law: A Practical Manual, 2nd Ed, Springer, 2002, p 255; William F Ryan, "Methods of Achieving Professional Recognition" (1946) The American Engineer, vols 16-17, p 8 [1] [2].

  8. ^ (1961) 2 The Industrial and Labour Law Digest, 1926-1959, Annotated 668; Sharma and Goyal, Hospital Administration And Human Resource Management, 5th Ed, PHI Learning, p 445.

  9. ^ Fossum, John; Moore, Michael (December 1975). "The stability of longitudinal and cross-sectional occupational prestige rankings". Journal of Vocational Behavior. 7 (3): 305–311. doi:10.1016/0001-8791(75)90072-X – via Elsevier Science Direct.

  10. ^ Ideas and Beliefs in Architecture and Industrial design: How attitudes, orientations and underlying assumptions shape the built environment. Oslo School of Architecture and Design. ISBN 82-547-0174-1.

  11. ^ Alan Bullock & Stephen Trombley, The New Fontana Dictionary of Modern Thought, London: Harper-Collins, 1999, p.689.

  12. ^ Redmond, Edward. "Washington as Public Land Surveyor". Library of Congress. Retrieved 17 September 2020.

  13. ^ Boehm, Jay (March 1998). "Surveying". Thomas Jefferson's Monticello. Retrieved 17 September 2020.

  14. ^ "Lincoln's New Salem 1830-1837". National Park Service. 10 April 2015. Retrieved 17 September 2020.

  15. ^ Perks, p.3.

  16. ^ Buckley, J.W. & Buckley, M.H. (1974): The Accounting Profession. Melville, Los Angeles. Quoted by Perks, p.4.

  17. ^ Bayles, Michael D. Professional Ethics. Belmont, California: Wadsworth, 1981.

  18. ^ "The World Medical Association Declaration of Madrid on Professional Autonomy and Self-Regulation", 1987. Archived 5 December 2010 at the Wayback Machine Revised in France in 2005, rescinded and archived in India in 2009, and rewritten and adopted in India in 2009 as "WMA Declaration of Madrid on Professionally-led Regulation" Archived 27 August 2012 at the Wayback Machine

  19. ^ Hoogland, Jan; Jochemsen, Henk (2000). "Professional autonomy and the normative structure of medical practice". Theoretical Medicine and Bioethics. 21 (5): 457–75. doi:10.1023/A:1009925423036. PMID 11142442. S2CID 10581304.

  20. ^ Tinsley, Ron; Hardy, James C. (2003). "Faculty pressures and professional self-esteem: Life in Texas teacher education". Essays in Education. 6.

  21. ^ Peter E. S. Freund and Meredith B. McGuire. Health, Illness, and the Social Body: A Critical Sociology, New Jersey, USA: Prentice Hall, 1995, p.211.

  22. ^ Guy Benveniste (1987). Professionalizing the Organization. San Francisco: Jossey-Bass.[page needed]

  23. ^ Jump up to:a b c Dent, Mike; Bourgeault, Ivy Lynn; Denis, Jean-Louis; Kuhlmann, Ellen (1 July 2016). The Routledge Companion to the Professions and Professionalism. Routledge. ISBN 978-1-317-69948-4.

  24. ^ Bloom, Samuel William; Bloom, Samuel W. (2002). The Word as Scalpel: A History of Medical Sociology. Oxford University Press. ISBN 978-0-19-507232-7.

  25. ^ Abbott, Andrew (7 February 2014). The System of Professions: An Essay on the Division of Expert Labor. University of Chicago Press. ISBN 978-0-226-18966-6.

  26. ^ Magali Sarfatti Larson, The Rise of Professionalism: a Sociological Analysis, Berkeley, California: University of California Press, 1978, p. 208

  27. ^ Joanne Brown, The Definition of a Profession: the Authority of Metaphor in the History of Intelligence Testing, 1890-1930, Princeton, NJ: Princeton University Press, 1992, p. 19

  28. ^ Turner, C.; Hodge, M. N. (1970). "Occupations and Professions". In Jackson, J. A. (ed.). Professions and Professionalization. Sociological Studies. pp. 19–50. ISBN 978-0-521-07982-2.

  29. ^ Coles, Colin (2002). "Developing professional judgment". Journal of Continuing Education in the Health Professions. 22 (1): 3–10. doi:10.1002/chp.1340220102. PMID 12004638.

Cruess, S. R., Johnston, S. & Cruess R. L. (2004). "Profession": a working definition for medical educators. Teaching and learning in Medicine,16(1): 74–76.

Freidson, E. (1994). Professionalism reborn: Theory, prophecyand policy. Chicago, IL: University of Chicago Press.

Gailmard, S. & Patty, J. W. (2007). Slackers and zealots: Civil service, policy discretion, and bureaucratic expertise. American Journal of Political Science, 51(4), 873–889. doi: 10.1111/j.1540-5907.2007.00286.x

Gulick, L. (1937). Notes on the theory of organization. In J. Shafritz & A. Hyde (Eds.), Classics of public administration, eighth edition (pp. 105–114). Boston, Massachusetts: Cengage Learning.

Howlett, M., McConnell, A., and Pearl, A. (2014). Streams and stages: Reconciling Kingdon and policy process theory. European Journal of Political Research, 54(3) 419–434. doi: 10.1111/1475-6765.12064

Lindblom, C. E. (1959). The science of "muddling through". In J. Shafritz and A. Hyde (Eds.), Classics of public administration, eighth edition, (pp. 172–182). Boston, Massachusetts: Cengage Learning.

Niskanen, Jr. (1971). Bureaucracy and Representative Government. New York: Imprint Routledge. doi: 10.4324/9781315081878

Sinek, S. (2019). The Infinite Game. New York: Random House

Surowiecki, J. (2005). The wisdom of crowds. New York: Random House.

Taylor, F. W. (1912). The principles of scientific management. New York: Harper and Brothers.

Taylor, E. B. (1878). Researches into the early history of mankind and the development of civilization. Boston: Estes and Lauriat.

Further reading[edit]

  • Abbott, A. (1998). The theory of professions. Chicago, IL: University of Chicago Press.

  • Brint, Steven. 1994. In an Age of Experts: The Changing Roles of Professionals in Politics and Public Life. Princeton University Press.

  • Penelope J. Corfield, Power and the Professions in Britain, 1700–1850, Routledge, London, 1995.

  • Yves Dezalay and David Sugarman, Professional Competition and Professional Power, Routledge, 1995, ISBN 0-203-97721-1.

  • Eliot Freidson, Professional Powers: A Study of the Institutionalization of Formal Knowledge, Chicago: University of Chicago Press, 1986, ISBN 0-226-26225-1.

  • Joseph M. Jacob, Doctors and Rules: A Sociology of Professional Values, Transaction Publishers, New Brunswick and London, 1999.

  • Montgomery, Jonathan (1989). "Medicine, Accountability, and Professionalism". Journal of Law and Society. 16 (3): 319–39. doi:10.2307/1409987. JSTOR 1409987. hdl:10822/833082.

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Top 10 most disruptive technologies across business in 2022

March 11, 2022
7 mins
Digital transformation accelerated by the pandemic has seen many disruptive technologies deployed across industries. We look at the most common types

Disruptive technology is advancement that changes the way consumers, industries, or businesses operate. Disruptive techs have the potential to replace age-old practices. Few areas of business are seeing more of such changes than supply chains. These are evolving to become digital networks that are on-demand and always-on. As such, they have the potential to deliver massive economic and environmental rewards, boosting productivity and sustainability, driving new markets, and encouraging innovation as digital transformation continues.

As with all disruptive tech, choosing the right time to invest is a key consideration. Some disruptive techs - such as Industry 4.0 advancements including Internet of Things and robotics - are more embedded than others, such as 3D printing. But in ten years’ time, most of them will have had a seismic impact on the way companies move goods from A to B.

Here are the most disruptive technologies, in ascending order of impact.

10: 3D printing

3D printing layers materials to produce finished goods. Metal, body tissues, concrete and food are all now being used as part of the 3D printing process due to the technology developing in capability since it was brought into reality in the early 1980’s, no longer can the tech “just” produce plastic prototypes.

CIPS says: “The 3D printer could be set to revolutionise future supply chains by reducing supply complexities, increasing the speed to market of products, reducing global impact by limiting the shipping of goods around the globe, whilst enabling the printing of replacement parts in remote locations. Whilst 3D printing is not set to displace mass production it will open up a world of product personalisation that could shape the demands of consumers.”

09: Fog computing

We all know about ‘the cloud’ but what about the ‘fog’? This is a new concept that spreads data across multiple servers with reliance on any single location. It uses virtual buffers to endlessly relocate data packets, meaning a file is never completely in one place. Such a network has the potential to make big-data analytics more secure and stable, because at no point is any given single piece of data in a single location.

It could even rival artificial intelligence, IoT app development and 5G in importance.

08: Autonomous vehicles

In a decade’s time, lorry drivers will be driving in an entirely new way. Through the integration of vehicle-to-vehicle comms and radar-based collision avoidance systems fleets of trucks will drive in ‘platoons’, using aerodynamics to save fuel. The lead truck sets the pace. The tech synchronises braking and acceleration between pairs of trucks. This communication ensures lorries travel at a safe distance.

Platoons are managed by cloud-based network that connect trucks through mobile comms and Wi-Fi. Cloud-based supervision limits platoons to specified roads in safe driving conditions.

07: Drones

The increasing demand for contactless deliveries is seeing drones being used to deliver packages. There are an estimated 20,000 drones carrying out retail deliveries today, and an estimated 500,000 drones are registered for commercial use with the Federal Aviation Administration (FAA) in the US. The drone package-delivery market is expected to grow from $528 million in 2020 to $39 billion. Gartner estimates drone delivery will not only reduce last-mile delivery costs by 70 percent but will also make the delivery process more energy efficient.

06: Wearable tech

Wearable tech are smart, hands-free electronic devices that automatically deliver information to the wearer. Connected glasses and clothing are becoming increasingly common in warehouse facilities.Companies such as UPS use wearables to streamline their supply chain processes and save time.

The worldwide wearables market hit a new record high in the fourth quarter of 2021 (4Q21) as shipments reached 171 million units, up 10.8% from the same quarter last year, according to new data from the International Data Corporation.

05: Blockchain tech

Blockchain is set to significantly change the way retailers and consumer-packaged-goods manufacturers run their supply chains. The universal need for secure transactions and the demand for transparency are already steering how buyers relate to brands. Blockchain is meeting these needs by guaranteeing the origin of goods, as well as the security of the transaction. Finance online predicts global spend on blockchain to reach US$17.9bn by 2024.

04: Robotics and Automation

No longer the stuff of Isaac Asimov novels, robotics is revolutionising the supply chain and delivering significant value. It improves speed and accuracy of operations, particularly in warehousing and manufacturing.

Robots are also helping companies increase worker productivity, reduce error rate, cut pick-, sort-, and storing-times; and increase access to difficult or dangerous locations. And with the current labour shortage - and people’s general disinclination to work in warehouse environments - robots are the last-mile workers of the future.

This is example from Kroger Technology (pictured below), the American retail giant soon to be in April’s edition of Technology Magazine, is a great example of robotics in action at scale.

03: Predictive analytics

Big Data has long ceased to be a buzzword; it’s now a guiding principle of supply chain management. But having data and making sense of it are different things. Enter predictive analytics, which Gartner characterise as data mining. This uses applied statistical modeling with data mining to give supply chain bosses a 360-degree view of the supply landscape. Research shows the decision making of high-performing organisations is five times more likely to be analytics-driven than intuition-based, with intuition being the habit of low-performing firms.

02: Inventory and network optimisation tools

These types of tools help businesses produce, store and distribute products more efficiently and effectively. Customer service is the watchword here, with all manner of businesses now demanding speed, visibility and transparency from supply chain partners with a view to satisfying customer expectation. Once mostly a retail-centric notion, ‘on-demand’ is now mission-critical for all companies, regardless of size, industry or position in the supply chain. Solutions that optimise inventory or supply chain networks are now de rigueur.

Forrester indicates that the likes of telcos and system integrators will increase their offering of wide area network (WAN) optimised managed services.

01: Internet of Things

Not so long ago, complex supply chains were seen more as a barrier to progress. But no more, thanks in main to the Internet of Things (IoT). IoT is really little more than a collective noun for the billions of sensors that are embedded in various devices (within the supply chain but also the wider world, just as in fridges and cars). The IoT allows for data-exchange - both within and between systems - over the Internet, and can leverage actionable data from all steps of the supply chain. It’s now used for locating materials, servicing equipment and monitoring productivity and efficiency.

Back in 2013, there were around 20 million smart sensors in use in supply chains, feeding live data back to those controlling supply levers. In 2022, that number is expected to climb to 1 trillion, and by 2030, Deloitte says 10 trillion sensors will be deployed.