What are the current trends in supply chain management?

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 are the recent challenges of supply chain management?

Where we are now: current challenges in supply chain management

• Insufficient data.
• Single-source supplier.
• Lack of digitalization.
• Nonoptimal inventory strategies.
• Ensure you have a range of reliable suppliers.
• Build flexibility into production processes.
• Create a resilient supply chain.

What are the major areas of conflict in supply chain management?

In general, conflict is widespread within and among the supply chain partners, and there are some kinds of conflict arisen in the supply chain because of following reasons, (1) differences in objectives; (2) lack/scarcity of trust among the partners; (3) use of coercive power and strategies by chain members, (3) …

Why are we having supply chain issues?

We have been experiencing shortages and price increases on all sorts of products for months. It’s a combination of two reasons: first, demand is exceeding capacity in production and logistics, and second, there is a lack of redundancy in the current supply chain.

What is the implication of supply chain strategies to sustainable operations?

A sustainable supply chain also helps improve productivity while saving money at the same time. By using sustainable techniques and resources, you increase the efficiency of buildings, vehicles and machinery at a significant cost savings.

What are the 7 areas of Supply Chain Management?

7 Areas of Supply Chain While supply chain is a very broad career field, it has 7 primary functional areas: Purchasing, Manufacturing, Inventory Management, Demand Planning, Warehousing, Transportation, and Customer Service.

What are the latest technology trends in supply chain management?

Supply chain technology trends also heavily feature robotics, IoT, and blockchain, which are all projected to make the supply chain faster and less prone to disruptions (Supply Chain Management Review, 2018). 1. Supply Chains are Going Green

What is the single biggest problem in Supply Chain Management Today?

So, my answer would be the single biggest supply chain problem is forecasting accuracy as part of S&OP. Also, Gartner says that sales and operations planning (S&OP) is the single, most-important and critical cross-functional process. If S&OP is done properly, it leads to significant returns, including increased revenue and profitability.

Why do companies outsource their supply chain management?

With marketplace improvements around (1) information mediums and systems (2) cost and quality of global manufacturing and distribution and (3) product design capabilities companies are gaining additional synergies by outsourcing all or parts of their supply chain.