Application of New Technologies in the Supply Chains of the Lithuanian Industrial Sector

The world is becoming increasingly virtual, created for our convenience. The new industrial revolution, which is focused on automation, digitization, and data exchange of systems and processes in various industries [1, 2], enables more efficient management of the supply chain to gain competitive advantage and avoid mistakes. Technologies like Blockchain, IoT, Machine Learning, etc., increase and improve opportunities to optimize planning, supply, and purchasing strategies. Innovations and digitization in supply chain management provide an opportunity to track material flows, obtain the necessary information in real time, and make accurate and timely decisions about possible changes, enabling faster communication and better and more reliable coordination of activities. This paper presents how much the Lithuanian industrial sector has invested in new technologies in the last few years, what place it occupies in the European perspective regarding investments in industrial digitization and what kind of competitive environment it creates for supply chains. Applied research methods: systematic literature and statistical data analysis. The results showed that technologies such as Big Data analytics, machine learning, artificial intelligence, and the new generation of robots are used to digitize the supply chain. The main challenge is the compatibility of different systems and time, which is very important in today’s business.