Presentation (7) (1).pptx
- 1. Emerging trends in Supply chain management
- 2. Index • Introduction • Artificial intelligence • E-commerce in Supply chain • Focus on sustainability
- 3. Introduction • While there are many factors that can influence the direction of supply chains, we believe that there are a distinct set of emerging trends that stand to define the field and the study over the next several years. These are (a) Big Data giving way to Fast Data (b) The Advent of the Social Supply Chain Era and (c) the rise of the Knowledge Workers. This paper discusses how these three broad areas are transforming the future of supply chain management both from an individual perspective, as well as, using an interrelated approach.
- 4. Artificial intelligence • According to the Accenture digital operations survey, organizations are rapidly digitizing their supply chain to distinguish and drive revenue growth. • The report also says that 85% of businesses integrate Al in their supply chain by next year. • The main objective behind integrating Al is that it plays a vital role in optimizing business process and establishes agile supply chain. • Assimilating Artificial Intelligence (AI) in Supply Chain eventually results in redefining an ecosystem where supply-chain link themselves to generate impeccable flow of products and information end-to-end.
- 5. AI supply chain management • Demand Forecasting and Inventory Planning Materials Sourcing • Manufacturing Decisions • Quality Assurance • Delivery and Logistics
- 6. Inventory control and planning AI techniques such as expert systems offer a promising new approach to inventory control and planning problems of great magnitude and complexity due to their powerful knowledge representation language that is capable of capturing inventory patterns throughout the entire SC at all levels of detail. The capturing of such dynamic complexity in the inventory data base enables human experts such as inventory managers to estimate the desirable level of inventory at each stocking point without causing a bullwhip effect. For example, an expert system may be incorporated into the material requirement planning system so that it can store data bases regarding historic master production schedules, bills of materials, and order patterns and then develop systematic lot-sizing rules to estimate the optimal level of future orders and the optimal timing of inventory replenishments. Another intriguing application of AI techniques to inventory control and planning includes the recent study of Teodorovic et al. (2002) who developed fuzzy logic rules to make online, intelligent, airline seat inventory control decisions as to whether to accept or reject any passenger request for seating arrangements
- 7. Transportation network design • Transportation offers it's own set of challenges including TSP, vehicle routing and scheduling problem, minimum spanning tree problem, fright consolidation problem, and to name a few. • In specific, due to the combinatorial nature of these challenges, the GA, a sub discipline of Al, turns out to be the most popular technique integrated to address aforesaid challenges efficiently. • Besides, another popular technique i.e. "ant colony optimization of algorithm" of Al has emerged to address the transportation network design challenges such as TSP, vehicle routing and the minimum spanning tree problem.
- 8. Rise E-commerce • The supply chain management based on E commerce can not only make every enterprise in the supply chain to reduce production cost, shorten demand response time and market change time, but also can provide overall service for customers, let customers acquire the best quality of products and services, and at the same time realize the largest value-added. • It can also provide whole e-commerce transaction service, realize global market and enterprise resource sharing. Supply and deliver order goods to customers in time, reduce operating and purchase cost, improve operating performance.
- 9. • E-Commerce has been benefited to the SCM by • ✓ Lower Cost • ✓ Economy • ✓ Better Customer Service • ✓ Quick Comparison • ✓ Teamwork • ✓ Information sharing, Convenience, and Control✓ Techniques like TQM, JIT etc.
- 10. Increased Focus on Sustainability • In our 2022 State of Manufacturing report, 63% of companies surveyed stated that product sustainability is increasingly important. • As a growing number of consumers prioritize the environment, more businesses have increased their sustainability efforts, and this includes supply chains. Because there are so many different ways to improve sustainability, you’ll need to tailor your efforts to suit the unique needs of your organization. • One may argue that sustainability needs to start at the beginning of manufacturing, or with the supply chain itself.
- 11. • Here are some small changes that your company can start with to chart a path towards a more sustainable supply chain: • Determine the biggest risk to sustainability within your product line or industry sector. The Sustainability Consortium, for example, has done the heavy lifting for over 90% of consumer products; they have organized the data to that companies can easily locate the biggest impacts on sustainability for a given product with their THESIS Product Finder tool. • Revamp packaging designs to more sustainable alternatives. • Switch to alternative energy sources (like hydrogen, electric or hybrids) for your logistical vehicles whenever possible, and choose suppliers that use green transportation methods for your raw goods. • Create an action plan with resources like WWF’s Supply Risk Towards Sustainable Sourcing Initiative.
- 12. Conclusion Successfully we research about the emerging trends in Supply chain management and also find out the application.
- 13. IoT in Supply Chain Management IoT is a revolutionary technology for every major industry — retail, transportation, finance, healthcare, and energy. The Internet of Things shows its potential to the fullest in processes like supply chain. Management, forecasting, and oversight applications help fleet managers improve the operational efficiency of distribution and add transparency to decision-making. All areas of the complex supply chain process can be improved with the Internet of Things.
- 14. Why using IoT in supply chain management • Tracking and monitoring are some of the main objectives for IoT deployment in supply chain management. • The technology allows warehouse and fleet managers to keep track of their cargo and inventory. • However, there’s more to the Internet of Things than its asset management potential.
- 17. Forecast the movement and the arrival of the product
- 18. Locate goods in the warehouse
- 19. Benefits of IoT in supply chain • Higher speed • Higher accuracy • Improved flexibility • Better segmentation • Increased efficiency
- 20. Challenges of using IoT in logistics and supply chains Skill Gap Increased Data Storage Challenges Security Threats Connectivity Issues
- 21. IoT in supply chain: examples and success stories Amazon Volvo Nissan New Maersk Line
- 22. Conclusion • The Internet of Things has a vast range of IoT applications in supply chain management. • It facilitates the tracking and monitoring of goods, brings more transparency to the communication process, and increases the precision of planning.