An Integrated Approach to understand Supply Chain Optimization through the Lens of Technology

Abstract

Supply chain management and optimisation is a crucial aspect of modern organisations and a successful research area. As an important problem for efficient capacity utilization and difficult infrastructure choices, the presence of uncertainty within supply chains is addressed.Organizations are continually refining processes by implementing business process improvement solutions to deliver better business outcomes, even in times of disruption. A lack of transaction and inventory visibility may be one of the important problems at the moment. With the assistance of intelligent workflows, technology can help develop supply chain processes to eliminate operational silos, respond to market disruptions, minimize risk and sustain business continuity. The paper discusses on how use of embedded AI capabilities in supply chain will provide real-time intelligence and actionable recommendations. Data-driven insights help increase efficiencies and reduce costs. Technologies such as Blockchain, IoT, Analytics, Software Process Improvement and many more can impact the supply chain immensely. The paper mentions about various technology including blockchain and how it improves the supply chain by improving traceability, auditability, accountability, actionability and visibility. The right technology helps the business to make the supply chain more accessible, gain more leverage over the inventory, reduce operational costs, and eventually outpace competition.