Opinions expressed by Forbes Contributors are their own. A number of emergent themes and propositions on factors affecting a supply chain’s characteristics over its lifecycle are presented. The demographics as well as other behavioral information in that location determines how and what will be stocked, and this information can be changed depending on shifts in behavior or external factors. Once management finally discovers the root of the issue, it might be too late to mitigate damage, especially if they operate across the world and in different time zones from where the disruption is taking place. Essentially, blockchain is a way of distributing the process of verification for anything from financial transactions to logging shipping information. EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, Michigan Economic Development Corporation BrandVoice. (Department of Operations and Supply Chain Management, China Europe International Business School, Shanghai. More than half of retailers offer same-day delivery, however customers still expect these products at the same cost. Location intelligence dramatically increased event-detection speed and accuracy, and also improved the efficiency of the company’s response. Understanding the supply chain lifecycle and how supply chains evolve provides new perspectives for contemporary supply chain design and management. Demand for goods has far outpaced the capacity for many businesses to deliver. The car company used geoenriched maps along with spatial analytics to identify suppliers within a 100-mile radius of the quake. Some supply chains are mature and relatively unchanging. Average temperature and location are tracked on the GeoBlockchain dashboard. Some are subject to significant change. (2016), "Supply chain evolution – theory, concepts and science", International Journal of Operations & Production Management, Vol. Most major companies have supply chains that … Supply chain has been a passion of mine for the past 10 years, and I have extensive experience and knowledge within the academia world and as a business adviser in supply chain and logistics. MacCarthy, B.L., Blome, C., Olhager, J., Srai, J.S. (Department of Industrial Management and Logistics. This is an invaluable asset in the supply chain because it elevates the level of trust for recording every interaction that a product or shipment might have by requiring that everyone on the “chain” verify the data being input, and ensuring that this data cannot be changed once it is committed to the digital ledger. Cutting-edge technologies like artificial intelligence (AI), blockchain, and automation are being integrated into the digital supply network, which integrates data and information from different sources to drive distribution of manufactured goods along the value chain. For instance, a magnitude 7.1 earthquake in central Mexico closed several roadways and impacted the supplier operations of a major US car manufacturer. What businesses then have is a permanent record of a product’s journey along the supply chain that provides everything from location to the time of arrival, and even all environmental conditions throughout the journey. Supply chains are critical for the world economy and essential for modern life. I am currently an Industry Strategy Lead for the Supply Chain department at Esri where I use Esri’s ArcGIS platform to conduct spatial analysis, supply chain freight optimization, and transportation analysis. They then verified if they needed help or resources, given the impact, to get the operations back up and productive. These can range in anything from labor disputes to natural disasters. Specifically, I have worked in advanced analytics, strategic planning and optimization-under-uncertainty within supply chains. This supply chain model is well suited for businesses with commoditized products, such as cement and steel. A retailer can therefore use AI to predict which products are more cost-efficient to stock in a certain warehouse based on its proximity to certain areas. 1696-1718. https://doi.org/10.1108/IJOPM-02-2016-0080, Copyright © 2016, Emerald Group Publishing Limited. The company shipping the fish can see if the temperature exceeded the allowable threshold and the real temperature at any point in the journey, and if this has affected the cargo this capability allows them to mitigate food quality issues. What retailers call “the last-mile”—the final delivery destination that goods must make from warehouse or the transportation hub is becoming a growing problem, especially in urban areas, as customers need fast and flexible deliveries. With more small and specialized last-mile distribution centers being built for different products and needs, the delivery methods of these products can be diversified further. Supply chains evolve and change in size, shape and configuration, and in how they are coordinated, controlled and managed. If you think you should have access to this content, click the button to contact our support team. I am currently an Industry Strategy Lead for the Supply Chain department at Esri where I use Esri’s ArcGIS platform to conduct spatial analysis, supply chain freight…. You may be able to access this content by logging in via Shibboleth, Open Athens or with your Emerald account. You can join in the discussion by joining the community or logging in here.You can also find out more about Emerald Engage. © 2020 Forbes Media LLC. https://doi.org/10.1108/IJOPM-02-2016-0080. Comprehensively teaches the fundamentals of supply chain theory This book presents the methodology and foundations of supply chain management and also demonstrates how recent developments build upon classic models. The authors focus on strategic, tactical, and operational aspects of supply chain … and Zhao, X. It is this dynamic, always moving, real-time representation that will allow businesses to have complete situational awareness and predictive control of all aspects of their organizations in the future. There are several new and emerging ways that businesses are transforming their supply chains to meet modern customer demands. As supply chains evolve, they are moving from a purely functional, physical system to a global and interconnected network of assets, data and processes. You may be able to access teaching notes by logging in via Shibboleth, Open Athens or with your Emerald account. 36 No. The "fast" supply chain model The fast supply chain is best for companies that … This can be a revolutionary new tool, for instance, if a company is shipping perishables like fish, and they must remain at a certain temperature the entire way. All Rights Reserved, This is a BETA experience. The rise of next- and same-day delivery has created a standard of demand that puts a new kind of pressure on businesses. Some are subject to significant change. One reality that has complicated supply chains of the future in terms of sheer logistics, is their global nature. There has been a lot written about blockchain technology lately, but sometimes it can be difficult to simplify exactly what it is and how it benefits companies and their customers. The paper analyses and develops key aspects, concepts and principal themes concerning the emergence and evolution of supply chains over their lifecycle. Most major companies have supply chains that exist in multiple countries, sometimes on multiple continents. Some supply chains are mature and relatively unchanging. To rent this content from Deepdyve, please click the button. Because of this increase in demand, the entire supply chain is rapidly evolving from having a functional orientation to a global and interconnected network of data and processes. 12, pp. Supply chain technology trends also heavily feature robotics, IoT, and blockchain, which are all projected to make the supply chain … The paper argues that a new science is needed to investigate and understand the supply chain lifecycle. I have a PhD in Transportation and logistics with a specialty in Supply Chain Systems and a M.Sc.
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