A Review: Supply Chain Management Present Market Trends and Tools to Improve the Efficiency of the Supply Chain

Abstract

The most basic purpose of the supply chain is to fulfill the customer demands. Earlier, supply chain fulfilled customer demand but product and service were not in accordance to the customer but with the passage of time now customer has become most powerful part of supply chain and that's why supply chain is managed in accordance to the customer. This has destroyed market boundaries and increased market competition. Now several tools are available to manage the customer demands in supply chain like data handling software, technical innovation, artificial intelligence etc. Organization needs to manage the speed, quality, information flow, material flow at each level. Along with it in today's scenario supply chain also should be sustainable which means it should not harm TBL i.e. supply chain have to be in accordance to the social, economic and environmental condition of the area in which it have to be processed. Another important factor which is too necessary is organization integrity. For the reason modern supply chain has modified a lot to fulfill these needs. This review paper discusses the advancement in the supply chain and tools to achieve the sustainable and growing supply chain.