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What are the recent trends in supply chain?

What are the recent trends in supply chain?

10 Trends Shaping the Future of Supply Chain Management

  • Artificial Intelligence and Automation.
  • Increased Focus on Sustainability.
  • Customization.
  • The Internet of Things.
  • Digitization.
  • Strengthened Relationships.
  • Risk Management and Resiliency.
  • Increased Visibility.

What type of supply chain is required for innovative products?

market-responsive supply chains
Functional products require physically efficient supply chains, whereas innovative products require market-responsive supply chains.

Why is innovation important in supply chain?

Supply chain innovation (SCI) is important for companies of all sizes. Virtualized innovation can enable companies to respond much more rapidly and cost-effectively to declining product life cycles, accelerating technological change and intensifying competition, perhaps even from non-traditional sources.

What are the four types of supply chains?

Supply chain models and simulations in SCM Globe are composed of just four types of entities: PRODUCTS; FACILITIES; VEHICLES; and ROUTES. Combinations of these entities create a supply chain, and their interactions are what drive supply operations.

What types of innovations do you feel is needed for a supply chain to be sustainable?

Supply Chain Consolidation and Coordination Improving coordination in the supply chain can help to improve sustainability. Think of reducing waste, minimizing distribution costs and energy usage lowering stock levels and even completely getting rid of stock.

What is ROI in supply chain?

Return on investment [ROI] is a calculation used as part of investment appraisal and in business cases in order to validate the likely outcomes of proposed investments and compare them with required or desired ROIs.

What are the types of supply chain?

Different Types of Supply Chain Management Software

  • 1 | Lean Inventory Tools.
  • 2 | Supplier Management.
  • 3 | Order Processing Tools.
  • 4 | Demand Forecasting.
  • 5 | Logistics Tools.
  • 6 | Collaboration Tools.
  • 7 | Warehouse Management.
  • 8 | Bid and Spend Tools.

How do you innovate a supply chain?

8 innovations that are transforming supply chains

  1. Last-mile delivery.
  2. Self-service/do-it-yourself logistics.
  3. On-demand warehousing.
  4. Collaborative mobile robots.
  5. Truck platooning.
  6. Blockchain.
  7. Tagging, sensors and geolocation technologies.
  8. Big data and AI.

What is innovation in supply chain?

When it comes to supply chain innovation, we generally mean improvements in the way that supply chains operate, and more specifically, in the way that products, information, work, and funds flow (and are temporarily stored) throughout supply chains. …

What is the best supply chain strategy?

Eight best practices for managing the supply chain.

  1. Start with strategy, but be practical.
  2. Manage the entire supply chain with a focus on the customer.
  3. Get on the CEO’s agenda.
  4. Control trade-offs between cost and service.
  5. Ensure that key stakeholders communicate.
  6. Be smart about customization.

What is flow in supply chain?

There are Five major flows in any supply chain : product flow, financial flow, information flow, value flow & risk flow. The product flow includes the movement of goods from a supplier to a customer, as well as any customer returns or service needs.

What are the three elements of supply chain sustainability?

Sustainability in supply chains requires three responsibilities: social, environmental, and financial. For those of you familiar with the Triple Bottom Line (TBL) method of accounting, these three elements will sound familiar.