But as we head to the future technology makes it even easier to integrate and coordinate throughout the chain. Some of the trends that are likely to change the supply chain management are:
Full integration: companies are becoming more and more networked i.e. integration and collaboration not just within the organization but also with other companies. Full integration of Supply Chain in India is achieved by many companies throughout their network of both the suppliers and customers. This has allowed a better flow of information and stability in operations for companies and stable delivery in cost effective way to the customers. A collaborative and closely integrated network enables companies to be efficient, responsive, agile and flexible.
Digital Revolution: Digitization and automation based on that has allowed companies to utilize their full potential and gather real time data to optimize processes and finances. This has given an opportunity to companies to make strategic plans from a digital perspective. Digital supply chains are more connected, intelligent, scalable and rapid to changing scenario and are the on the path to innovation and success.
Agility first: while most believe that the Lean Supply Chain is valuable, there is a shift for agile methodology especially in software driven management. Lean Supply Chain is basically a system of interconnected & interdependent network of partners who operate in unison in order to accomplish supply chain objectives which are monitored metrics to ensure success across supply chain and these metrics are reviewed continuously. On the other hand, Agile Methodology is more like an alternative to the traditional way of managing projects as it’s a set of principles for development of software where solutions evolve through collaborative team effort.
Reverse logistics: With more focus on agile supply chain, companies are trying harder to improve their reverse logistic. So far reverse logistic has been a very costly affair for companies but for some companies especially Ecommerce Company’s success and failure may be dependent on it. In order to streamline the reverse logistics several initiatives have been taken including digitization and integration of order processing with warehousing systems and suppliers. But as the businesses expand globally the need for more transparent and accountable systems is on a rise for traceable supply chains.
Big Data: Big data is a common term to be herd in this decade and probably will stay in coming ones as well. Most companies rely on big data to streamline operations throughout the supply chain network. Companies indulge in large scale analysis of data from their past operations relating to shipment and transport history for optimization purposes.
Eye on fundamentals: Back to the basics is the dominant trend in 2016 relating operational efficiencies to the fundamental parameters is so important in this digital era that many prominent leaders in supply chain management have urged other to focus on it. And it just makes sense because if the organizations adopt technology but do nothing to improve the operations than technology might only amplify the faults. The capability to adopt innovations and take benefit of the synergy effects of individual movements is the core competence of future-oriented organizations. The ability to keep the sight of the essentials while still filtering important things requires attention.