Traditional supply chains will radically change during the next five to ten years as a result of new technologies, competition and customer demands, according to a new study by MHI (a trade association for the material handling, logistics and supply chain industry www.mhi.org) and the consulting firm Deloitte. On average, companies surveyed expect to invest heavily in new supply chain technologies in the next two years, with the top 17 percent spending more than $10 million.

According to the 2015 MHI Annual Industry Report titled “Supply Chain Innovation — Making the impossible possible,” firms should embrace this transformation and focus on investing in new technologies to help compete and thrive as their supply chains continue to face constant pressure to do more with less.