BM9718 / LD9718 / AT9718 Research Methods and Analytics for Business Practice Assignment Sample 2023
Introduction/ Overview
Introduction
The purpose of this research is to explore the trends and challenges in the supply chain and to explore its impact on the digital revolution and globalization. The research will influence people in the competitive market and will develop skills to improve their business ethics. The research will be held on various aspects to grow “Supply Chain Management (SCM)” such as research background, aims, and objectives, research rationales. The literature review and research gaps will be mentioned with trends and challenges of SCM. The research methods will cover data collection and data analysis followed by research designs. The research ethics and strategy to grow cybernetic uprising will be collected throughout the project.
Research Background
The research will analyse the “Supply Chain Management (SCM)” as a course for examining the various development options in the digital revolution. As the factors of globalization lack proper strategy the analysed data from the study will be aligned with the strategies of the professional business planner. As cited by Lancioni et al. (2020) the supply chain management had faced some issues regarding transportation component and material handling and through this study the weaknesses have been replaced by the strengths. The strengths were identified by communication with professional problem-solving agents. The conclusion from their experience will make the “Supply Chain Management (SCM)” more efficient. A broader (SCM) is supposed to be made with the cooperation, value-adding process, and improvement within the organization and among the service receivers.
Aims and Objectives
Aims
This research aims to analyse trends and challenges in the supply chain and their impact on the digital revolution and globalization.
Objectives
The objectives of the research are as follows:
- To investigate current trends and challenges in global “supply chain management”
- To discuss the impact of the challenges faced by “supply chain management” on the digital revolution and globalization
- To recommend an effective solution for mitigating the challenges faced by “supply chain management” in the global business platform
Research questions
Q1: What are the current trends and challenges in global “supply chain management”?
Q2: What are the impacts of the challenges faced by “supply chain management” on the digital revolution and globalization?
Q3: What are the solutions for mitigating the challenges faced by “supply chain management” in a global business platform?
Problem statement
The problem statement for this research is that “supply chain management” is facing major issues in its effective risk management.
Research Rationale
The issues came out from the research are the backlogs in digital technologies as the technologies used in the supply chain management are creating storage cloud related problems. As cited by Ardito et al. (2019), this issue is causing delay in operations of the company and the consumers are complaining about the time-consuming issues regarding their service. The problems have been seen by the managers and other authorities but has not been solved due to the economic downfall. In recent years, the pandemic situation has made a barrier in investment as a result the companies are unable to imply more technologies to resolve the problem. The research has been done to solve the problem regarding cloud computing and suggestions from professionals have been taken.
Summarized Literature Review and Research Gaps
Trends in supply chain management
The investigation of the trends in supply chain management will be the main focus of this study and there are various aspects regarding this. Artificial Intelligence is supposed to grow the SCM as it is streamlined with the management process and this research will identify the theory of attempts by which AI mimics the human intelligence and learning process. As per the view of De et al. (2018), this research will focus on growing the number of customers by prioritizing their needs with the strategy of sustainability. Customization is the ability to enhance the presentation power of any product and that will be improved by the research guidelines of the project. The internet has the power of socializing any service and this research will come up with the right analysis of how to use the internet to benefit the management process. The main trend is digitization that can attract more customers and enhance the reputation of the organization and digitization will be improved with the investigated result from the study.
Challenges in supply chain management
The chief barrier of “Supply Chain Management” is the rising price of raw material, labor, goods, and transport. The customer service has to be provided with high quality as the customers have the right to gain the same service with the amount paid by them. In this regard suggestions to provide service with minimum cost, the price will be given in this study. Simultaneous changes in the market cause risk management issues between supplier and customer relations and the proper management process will be suggested regarding this. As described by Ketchen et al. (2020) an intersection between “Supply chain management” and entrepreneurship has been focused and through that the delay in the market is supposed to better understood. The causes of delay in the market and fast changes in the market will be given along with exact suggestions to overcome the issues. A variety of innovations are needed to excel in SCM which will be discussed in the research.
Impact of supply chain trends and issues on Digital Globalization
The high rise in price has caused poor quality products and that would result in a decrease in the number of consumer availability. As per the view of Agrawal and Narain (2018) all the departments in the digital technology have not been equally focused and that is why price rise was also neglected and became an issue. The new entrants in the market have raised the competition more than before and the new products have come with good quality service at a low price that has made a barrier for the stable “Supply Chain Management (SCM).” These fast changes in the market had made a problematic situation to maintain the balance among their organizations.
Strategies to reduce supply chain issues
The “Supply Chain Management (SCM)” is supposed to follow some strategies to terminate the issues regarding price rise. They are supposed to follow the different preferences of the customers and adjust their service regarding their needs. The SCMs are supposed to learn where to invest to get better technologies. As cited by Tu (2018), a qualitative study has been conducted to identify the technology and supply chain related problems and some practitioner implications came. The risks of management are supposed to be dissolved with the help of hiring a “Logistics Software Development Company”. Promotions with efficiency are supposed to increase the reputation of the organization.
Theory and Models
The “Supply Chain Management (SCM)” is supposed to maintain the “Resource-Based View (RBV)” management process to excel in the marketing development field. According to Clauson et al. (2018), “Supply chain management” has faced complexities and challenges in every sector and a narrative review has been given in this regard. In the competitive management environment, RBV describes various sources that are reliable on tangibility, intangibility and suggests the competitive advantages. The tangible resources are ‘capital’, ‘building’, ‘lands’, ‘machinery’, and equipment. The intangible resources are “Brand reputation”, ‘trademarks’ and “intellectual properties”. These resources help the companies to achieve prosperity in organizational performance. The external competitive forces can be reduced with the strategies mentioned in the theory.
Literature Gap
The research will be done based on secondary resources which are the data collected from several journals. As stated by Arunachalam et al. (2018), past literatures have been studied to develop the present bibliography of the project. As the journals are based on the research of the authors the authenticity of their research and results are not verified. The proper primary research is supposed to improve the study with attested results for this study of investigation on trends and challenges in the supply chain and its impact on digital revolution and globalization.
Research Method
Research Philosophy
The study focuses on the current phenomenon of the “Supply Chain Management” issues that causes several malfunctions regarding excel in the market. The philosophy of this research will be to find out the reasons for the issues and overcome the problems efficiently. As per Flynn et al. (2018), an editorial team has been prepared to discuss the problems and solution in an organized way that identified the issue of single respondent. The description of the philosophy will help to reduce the loss faced by the organization significantly. The assumption based on the study will create proper justification and framework for the positivism of the organization and will improve the quality of their service.
Research Approach
The research approach will be based upon secondary resources and the approaches will be developed from the pre-existing theories and journals recommended by the experts. As per the view of Dubey et al. (2017), the proper direction and guidance are needed to properly manage the framework of the projects. The approach will impact the investigation on trends and challenges in supply chain and digital revolution and globalization will be improved in this regard. Proper documentation and ideal research will take place in support of this research. The research will meet a qualitative approach and will facilitate further researchers in the future.
Research Design
The investigation to find the trends and challenges in “Supply Chain Management” will be designed with proper planning and with the help of journals. The digital revolution in various aspects and globalization of “Supply Chain Management” will be done based on the understanding of the research. The design of the research lies in the philosophy of the research and the approaches of the study. As per the view of De et al. (2018), the previous propositions have been discussed with structural flexibility. The research will be structured in such a way that it will increase the capability of the organization and the customer availability. The popularity of “Supply Chain Management” depends on the whole structure of this research that will modify the approach of their business. The research will be done based on the understanding from the secondary resources, such as various journals and research works developed by the earlier researchers. In the same way, this research will help to design future researchers to excel in their study with the help of this project.
Data Collection Method
The data and information that has been collected for this research are of secondary basis. All these data have been collected from online journals and websites. Internet browsing has been done to collect the sample data. As discussed by Lamba and Singh (2017) prosperity in this regard is supposed to be gained by critical and fundamental analysis of the insights of supply chain. The research is supposed to include surveys and some questionnaires to improve the strategy of the “Supply Chain Management (SCM)” will be given with solutions. The data are based on the result of the survey and the collected data from the internet, websites, journals, and electronic media. The research will cover proper methods to excel the motive of the project. The collected data are supposed to be executed to meet fruitful results.
Data Analysis Method
The data and information collected during the research will be analysed with proper knowledge of the marketing and globalization of SCM. As described by Hugos (2018) “the essential series” have been focused to acquire skills and knowledge in this field. The theories of authors and professionals regarding this aspect will be focused to get the proper direction to excel in business management. The data collected will be analysed with the view of efficient and effective authors and researchers who have already excelled in their field.
Research Ethics
The study will cover “data protection issues” on a serious note as the other competitors of the same organization will have the access to monitor it. The ethics of this research and policies will be maintained properly with relevant legislation. As cited by Blanchard (2021), around 1 trillion dollars have been spending on distribution, transportation and warehousing. The previously identified information will be utilized in this regard. Special care is supposed to be taken while maintaining the methodology of this research as this will be the main focus of this study. All the collected data will be identified by a professional to further research in this aspect (Nagano, 2020). The finalized data of this research will be protected for the “Supply Chain Management (SCM)” process.
Conclusion
Overall Summary
The challenges in the upcoming projects will be identified through the project and digital overthrow. Globalization would be better with the help of the consultation of professional and experienced business planners. Throughout the research, the research background has been presented followed by the aims and objectives of the research. The research rationales have been replenished with the help of the resources. The trends and challenges in “Supply Chain Management” have been mentioned in the research. The impact on digital globalization of these issues has been furnished in this aspect and strategies to induce supply chain development have been discussed. Theories and models regarding the literature review have been given with a literature gap. The research approach, design, data collection, and data analysis have been done throughout the research. The research ethics to improve more in this field has also been suggested. The investigation on trends and challenges in the supply chain and its impact on digital revolution and globalization have been replenished in this research.
References
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