Business Studies, asked by bindur6403, 1 year ago

Various managerial decisions in supply chain management

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Answered by kanika58
2
if the largest economic crisis since the Great Depression wasn’t enough of a challenge to the supply chain industry, the introduction of the smartphone and advanced analytics into the marketplace disrupted the industry further by providing an exponentially growing consumer base and easy access to goods and information. Companies tripped over themselves to build ecommerce portals, and one-click purchasing grew in relevance.

All of these changes in the marketplace meant that supply chains had been disrupted forever. The world after this period was not the same for the supply chain industry, and supply chain professionals had to respond to what was quickly becoming an outside-in, demand-driven world. The pace of change hasn’t slowed, and now the Internet of Things, digital operating models, and predictive analytics are further enhancing the end-to-end capabilities of the business.

Company leaders did what they could to adapt. They prioritized projects that reduced inventory and logistics expenses. Although this helped matters in the short term, professionals risked ignoring the long-term demand-driven vision of the business operating model. Organizations prepared for the rebound while responding to the conditions of the new normal: a reduced labor pool, analytics-based demand insights, stagflation and deflation, issues surrounding energy and sustainability, and a burgeoning omnichannel marketplace. Effective strategies coupled with a well-defined plan and the right tools helped supply chain professionals alleviate fulfillment pressures and readied managers for market changes in the future.
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