What Is the Future for Supply Chains?
Supply chains are constantly evolving; technology along with diversification of staff skill set is playing a key part in this development. Organisations are becoming increasingly aware of the changes in their market competition and the need to constantly develop or even re-invent their market offering in order to both preserve and develop their own market positioning.
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We have seen the emergence of many large organisations in the last few decades, who have shocked certain sectors or completely re-developed the way in which sectors operate. Organisations which fail to recognise the need to develop their supply chains can have devastating effects, as they lose market share or drop out of the market altogether.
Many organisations are already looking to technology in order to evolve their existing supply chain operations; however existing processes must first be reviewed in order to strip waste activities out of the existing supply chain and data must be cleansed, before new systems are implemented and staff are upskilled to adapt to new ways of working.
Silo systems that simply push the existing supply chain issues further downstream or don’t meet business wider needs are becoming unfavourable, organisations need to look at operating their supply chains on a holistic level, whilst organisations that are horizon scanning for the latest plausible applications and solutions are staying ahead of the curve and increasing their product or service offerings.
It is critical that supply chains are constantly reviewed for efficiencies and align to the corporate strategy in order to deliver against consumer demands, at present many organisations are reviewing the length of their supply chains with a view to reduce the overall tier/length and bring supply chains closer into the organisation or the end consumer, in order to mitigate risk exposure, remove wastes to drive increased value whilst reducing the exposure to global shocks.
CIPS has some resources to support procurement and supply chain specialists who are reviewing their supply chain strategy and with that their people, process and systems as a means to evolve their supply chain:
What is future of supply chain management?
Future Supply Chains will be different for each organisation, however having a constant awareness to add value and reduce waste will serve an organisation well when reviewing their operational activities.
Supply chains of the future can be characterised by the three major traits:
- Strategic – Evolving a strategy in a changing landscape.
- Dynamic – Responding to technological changes.
- Customer-Driven - Adapting to changing customer needs.
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The Future of Supply Chains:
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