BMG814 The Digital Landscape Sample
Introduction
The report consists of a detailed discussion of e-supply chain management. The future trend of the supply chain and its significance in mitigating the future demand of customers is evaluated in this report. However, the report began with a discussion of how the future supply chain will be able to mitigate the customer’s demands regarding the desired location and timing they want. The next session of the report focuses on the advantage of including artificial intelligence and predictive analysis in the e-supply chain that could mitigate any future risk like the Covid pandemic. At the same time, the report also focuses on the capability of future supply chains to incorporate circular logistics and reverse flows. The report ends with an analysis of how the future supply chain will be able to resolve the risk issues like ” product return” and “last mile delivery” relevant to the supply chain.
Answer to question 1
After assessing the first video, the knowledge has been gathered that the traditional way of the supply chain has now been considered a back office function. However, with the inclusion of advanced technology, the supply chain will be able to provide a more significant customer experience. It will be capable of supplying goods according to the customer’s preferred location and preferred time. However, the assessment of the information provided in the video asserts that the supply chain system will be more effective in accessing data and will be able to apply it to build an end-to-end network. In the context of future customer’s demand, the future supply chain will be more customer-centric and will approach wider inclusion of technology innovation. In this context, connective and collaborative robots will be used, which can play a significant role in the execution of better operational activities in the supply chain in the future (Ralsto and Blackhurst, 2020). However, it will be possible to explore a safer and better way to mitigate the future market demand and mitigate the customer’s future purchasing attribute when they look for the thing they want. The time and place will also be their choice.
Furthermore, the inclusion of advanced and digital technology in the future supply chain will enable faster delivery to customers with the help of drones and robots that can supply customers with the preferred place they want to get their supply. At the same time, with the inclusion of analytical software and technology, the future supply chain will be able to place effective communication and coordination with customers’ needs and provide a more significant customer experience. It will help them to predict and forecast the future demand of the market and will be prepared to mitigate future direction. Furthermore, IoT sensors will be able to gauge the performance and recommend maintenance requirements to enhance better performance in supply. Thus, it will be more effective to integrate with the feedback of customers and will be more conscious for the product development to align with the customers (Min et al., 2019).
The data asserts that the future supply chain will be drastically tailored to justify the future customer trend and will mitigate their demand regarding the location and time frame that they want to get their delivery. It will consider the personalization of customers and approach a customized way to reach the individual needs of its customers. However, the customer demand is changing rapidly, and in the future, they will expect faster delivery at a low price. Moreover, the trend of future customers is to have more control over tracking systems for their orders. On the other hand, real-time meetings and the market trend will focus on direct and effective communication with drivers and providers. Furthermore, the future supply will focus on the described trends of the future market and will approach a more customer-centric and e-supply chain. However, flexibility will be a significant characteristic of the future supply chain which will help them to increase their preparedness to deal with changing demand.
Furthermore, the supply chain will play a more significant role in continuing the evaluation of customer demand (Ishfaq et al., 2022). On the other hand, the future supply chain will be able to support transparency, responsibility, and traceability in its delivery system. It will be able to create a value chain in its end-to-end networking system. However, the inclusion of different e-technology like Artificial Intelligence and IoT. The end customer will be able to provide the latest status and location of their delivery through the IoT facility. Apart from this, the inclusion of advanced technology such as IoT enables the future supply chain to provide information on the current position of the cargo by which they deliver the goods.
Answer to question 2
The assertion of the second video refers to the future supply chain required to approach a strategic vision and to be prepared to deal with the risk regarding the virus or any other natural crisis. However, the assessment of the discussion of the video focuses on the capability of the supply chain management in 2030, which will approach the VPS supply chain. In the discussion about the future supply chain, the speaker is very hopeful about the efficiency of the supply chain activities in 2040 when it can resist all types of disruption due to natural calamity and the future risk from any future viruses like covid or SARS virus. In this context of the discussion, the speaker also enlightened about the usage of predictable analytical tools that will boost the capability of the future supply chain. With predictive tools, supply chain management can identify the risk factors that could affect the future market (Khatua et al., 2021). The device will use historical data and records to evaluate the future attributes of the market. It can help the industry to enhance strategic vision and policy implementation so that they can deal with multiple threats like geopolitical boundaries and the future threat of new versions of viruses like covid 19.
The predictive analysis tool can implement different types of techniques regarding classification techniques, segmentation techniques, and correlation analysis to enhance a strategic forecast for the future supply chain. In addition, predictive tools can use time-series techniques and deep learning analysis to coordinate with the data to improve predictions and take the efficiency of the supply chain to the next level to deal with the severe pressure of crises, and it will be capable of ensuring the continuity of delivery in the crisis. With the application of predictive tools, the future supply chain will be able to collect relevant data from trade deals, sales reports, supplier contracts, and through social media, whether other or forecast information (Younis et al., 2021). The tool can clean up the excessive data from the database and provide more quality data access on the protective model. In addition, AI proof is also included in the data accessing process that allows the future supply chain to enhance other initial modeling and investigation of data to observe the reachable benchmark with a lower investment. Thus, including predictive analysis tools will help enterprises make smarter decisions to operate their supply chain activities. However, it will help them increase their preparedness and predictability to deal with crises like covid or anything else.
On the other hand, the inclusion of AI in the future supply chain can help it to access more reliable and sorted data which can be aligned with the future demand and risk analysis. Applying AI intelligence in the future supply chain will allow industries to realise unexpected events like labour strikes, transportation bottlenecks, and weather conditions. However, the speaker of the video also places a positive expectation that the future supply chain will also be able to deal with the challenge of driver shortage as the future supply chain will be able to access all these relevant cris facts by assessing data by the help of AI intelligence (Modgil et al., 2021). Including AI software in the future supply chain will enhance the efficiency of the operational activity of the supply chain. It could place an esn-to-end operating model that will ensure the product life and could employ the retreatment. However, AI allows the supply chain to enhance a centralized inventory system which will provide an adequate flow in the supply chain, and customers can be able to track their orders more effectively and can also optimize the balance to relevant threats such as geopolitical restrictions due to virus or any natural calamity or other future the crisis. The scientific and data access will increase the capacity of the supply chain, and it will be more crisis effective.
Answer to question 3
After a thorough analysis of the eight trends and predictions in the supply chain measured in 2021, it can be understood that the future supply chain will enhance efficiency in the reuse and recycling of goods. At the same time, it will show a greater emphasis on managing the requirement to incorporate the circular logistics and reverse flow of goods. However, the data asserts that the future supply chain will be more attentive to approach omnichannel strategy. The future supply chain will be more responsible for investigating the lifeline of the returning product and will take more initiatives to increase the value chain of the returning product. However, the omnichannel strategy allows the supply chain management to immediately monitor the reverse flow of goods. It will be helpful to make an appropriate plan for circular logistics.
In managing recycling and reproduction of goods, the future supply chain will be effective due to the inclusion of the advanced technology of ” Digital Supply Chain Twins .”With the help of this technology, the future supply will increase its visibility on the physician supply chain. At the same time, a fuzzy supply chain can manage the latest trend in lawn warehouses (Nusran, 2021). The future supply chain can visualise the logistic hubs and 3D models of the inventory network by including digital technology. It can be approached with an expansive view of the current position of the circular particles by which they analyse the lifetime of the products and implement the effective design to recycle those damaged or returned products through the supply chain from the end customers. At the same time, the future supply chain will be more agile and flexible to return management. It can increase its tracking and monitoring process by using the technology of Artificial Intelligence.
Furthermore, future supply management will be more agile and will approach the help of AI. It allows manufacturers to improve insights into their products. Moreover, the future supply chain will be more effective in managing return-oriented data due to the inclusion of a multi-channel strategy and digital technologies. On the other hand, the trend of more responsibility and digital logistics in the future supply chain will be perfect for identifying weak points and product quality issues. At the same time, by accessing the correct data, the future supply chain can manage the frequency of return of the goods (Gandolfo and Lupi, 2021). In addition, the future supply chain can provide a cost-effective and fastest route, including detailed information on location, size, weight, and type of shipments. Apart from this, the future supply chain trends to access the real-time data that contribute to increasing the efficiency of the future supply chain to improve its slotting strategies. Apart from this, the future supply chain will manage the reverse flow and the circular logistics by including the WMS system, which will increase the ability to return the commodities quickly free of cost. Moreover, the two-way logistics concept is implemented in the future supply chain, which will increase the loop of the product life cycle. Therefore, older goods can return to the manufacturer, and they can recycle the product in an eco-friendly manner.
Answer to question 4
Several challenges are present in supply chain management. The more significant challenge is associated with the right speed of shipping, the right route, and the right charges that affect the flow of the supply chain. However, the data observation and the speaker’s notifications of the fourth video assert that most of the challenging issues are relevant to the “last-time delivery”; similarly, returning goods is another issue that affects the sustainability of the supply chain management. Last time delivery raised several challenges, such as delayed shipment ship and unrealistic delivery increases in price rate that majorly affect the efficacy of the supply chain management; however, lack of visibility is the central issue relevant to the issue of late delivery. In this context, the inclusion of IoT technology can help increase the visibility of the tracking system. (Argyropoulou et al., 2022). It allows enterprises and customers to increase their monitoring and tracking of the current status of delivery. However, it can help to increase transparency in the delivery system. In this context, a few software such as WorkWave Route Manager can be helpful to manage the delay of delivery and shipment ship by assessing tracking data effectively. However, it plays a significant role to process the last-time logistic process with the inclusion of this technology.
Moreover, by using AI, supply chain management can reduce the price issues with the last mile delivery. It assesses important data by which the new and easy route plan can be implemented. On the other hand, the inclusion of GPS system of tracking can be installed in the delivery vehicles cloud and also help to deal with the risk factor of last-time delivery (Bijmolt et al., 2021).
Like last time’s delivery, the issue of returning products or goods also affects the efficiency of the supply chain. In this context, the retailers can approach blockchain technology. With the help of this technology, the suppliers can increase transparency regarding product quality and the order details of customers. At the same time, the inclusion of RPA ” Robotic Process Automation” predictive tools can also help to enhance transparency and suggest the maintenance recommendation of the warehouse to increase the sustainability of product life. On the other hand, the inclusion of “Machine Language ” is considered another important technology that supports a smarter reverse logistic to deal with the risk of goods returning issues.
Conclusion
The above discussion illustrates that the future supply chain will be able to provide effective solutions that will enhance a revolution in the logistics system on a global platform. The current and future trends of the supply chain are to be more responsible towards the delivery system and shipments and will be more effective in aligning with the forthcoming market trends to be more agile, transient, and flexible for them. However, the future supply chain will also approach the inclusion of an omnichannel strategy and lead warehouse system to gain the capability to mitigate the future market demand as well. The future supply chain will also be effective in enhancing strategic and practical circular logistics to deal with crises.
References
Argyropoulou, M., Zissis, D., Korfiatis, N. and Zampou, E., 2022. Horizontal collaboration in the last mile distribution: gauging managerial response to disruption and abnormal demand. Benchmarking: An International Journal.
Bijmolt, T.H., Broekhuis, M., De Leeuw, S., Hirche, C., Rooderkerk, R.P., Sousa, R. and Zhu, S.X., 2021. Challenges at the marketing–operations interface in omni-channel retail environments. Journal of Business Research, 122, pp.864-874.
Gandolfo, A. and Lupi, L., 2021. Circular economy, the transition of an incumbent focal firm: How to successfully reconcile environmental and economic sustainability? Business Strategy and the Environment, 30(7), pp.3297-3308.
Ishfaq, R., Davis‐Sramek, B. and Gibson, B., 2022. Digital supply chains in omnichannel retail: A conceptual framework. Journal of Business Logistics, 43(2), pp.169-188.
Khatua, A., Khatua, A., Chi, X. and Cambria, E., 2021. Artificial Intelligence, Social Media and Supply Chain Management: The Way Forward. Electronics, 10(19), p.2348.
Lachvajderová, L., Kádárová, J., Kopec, J. and Rybárová, D., 2022. Postpandemic innovative trends in logistics, distribution and supply chain. Advanced Logistic Systems-Theory and Practice, 16(1), pp.19-30.
Min, S., Zacharia, Z.G. and Smith, C.D., 2019. Defining supply chain management: in the past, present, and future. Journal of Business Logistics, 40(1), pp.44-55.
Modgil, S., Singh, R.K. and Hannibal, C., 2021. Artificial intelligence for supply chain resilience: learning from Covid-19. The International Journal of Logistics Management.
Nusran, F.N.M., 2021. Covid-19 Pandemic Affects Global Supply Chains. Will this Change Future Business Models?.
Ralston, P. and Blackhurst, J., 2020. Industry 4.0 and resilience in the supply chain: a driver of capability enhancement or capability loss?. International Journal of Production Research, 58(16), pp.5006-5019.
Rautela, H., Janjevic, M. and Winkenbach, M., 2021. Investigating the financial impact of collection-and-delivery points in last-mile E-commerce distribution. Research in Transportation Business & Management, p.100681.
Younis, H., Sundarakani, B. and Alsharairi, M., 2021. Applications of artificial intelligence and machine learning within supply chains: systematic review and future research directions. Journal of Modelling in Management.
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