Innovative solutions for forming supply chains in the conditions of economic instability

Tatiana Kharlamova,Peter Lemeshchenko,Andrey Kharlamov,V Kankhva

doi:10.1051/e3sconf/202125806046

Abstract

The article examines the changes in the requirements for the development and implementation of innovations in the process of forming and improving supply chains in the face of increasing economic instability. Economic instability is presented as the most important trend in the modern economy and significant factor forming new requirements for supply chains. This, in turn, involves the improvement of applied technologies and development of new technologies, as well as the search for progressive technical and managerial solutions to meet the interests of a wide range of business entities and consumers of goods and services. A distinctive feature of this study is the fact that economic instability is viewed by the authors through the prism of both economic and non-economic processes having, inter alia, an impact on the economic system, including political, military, environmental, epidemiological and other processes. The article focuses on the COVID-19 coronavirus pandemic, as well as its impact on logistics solutions, and the specific demands on supply chains. It is substantiated that the introduction of technical and managerial innovations in this area will allow us to take into account the features and consequences of the impact of COVID-19 on the economy and to effectively influence the processes associated with improving supply chains. Thus, it will ensure compliance with the requirements and conditions determined by modern conditions associated with increased economic instability.

Highlights

Economic instability today should be considered as the fundamental process on the basis of which the work of any business structure is built and the global economy functions
The sphere of application of modern innovations is most often not limited to certain types of business, which is demonstrated by the practice of introducing big data, robotics or the Internet of Things
This thesis is fully consistent with our assumption of the key role of startups, since the solutions they offer are more general in nature and can be adapted to the requirements of logistics companies, or even a specific supply chain

Summary

Introduction

Economic instability today should be considered as the fundamental process on the basis of which the work of any business structure is built and the global economy functions. If at the beginning of the era of the market economy and further, over a long period of its evolution, instability was considered as a consequence of the cyclical nature of development (the rise was replaced by a decline) at present, most researchers characterize instability as a much more complex process. According to existing forecasts, in the future this trend will only intensify, which presupposes the functioning of business entities in a new reality determined by economic instability. In our opinion, this is of particular importance in the process of forming supply chains - both economic resources for producers and finished products for consumers. The goal of this article is formulated in accordance with the current factors of instability, including the COVID-19 coronavirus pandemic, and is focused on meeting the interests of a wide range of business entities and consumers of goods and services

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Conclusion