A prime example of rapid and relentless evolution is supply chain management (SCM). New technologies and innovations have significantly boosted its capabilities, and SCM is now able to deliver a lot more than what was thought possible a few years back. Here is a look at some of the exciting new developments in the world of SCM.
This digital revolution and its groundbreaking effects on production and manufacturing have transformed supply chains across businesses and industries. Industry 4.0 has not only transformed the structure of supply chains, but it has also changed the way we view supply chains. Industry experts and market analysts have been observing a dramatic shift away from traditional sequential strategy hierarchies.
Turn to Industry 4.0 proponents and they are likely to talk about a future made of cobots – collaborative robots — that coexist with human workers. In this world, they work together to achieve not just efficient production in smart factories, but also to ensure that the humans working alongside robots have a creative and fulfilling work life.
The 3+1 offerings can be viewed as a collection of key business and technology transformation imperatives.
The primary domains, Supply Chain Management, Sustainability Modeling, and Customer Channel Management : all three of these can be looked upon as powerful catalysts for organization-wide change.
Even with the best simulation data available, the most crucial business decisions come down to human intuition, emotions, and perceptions. Undoubtedly, business success necessitates an in-depth understanding of human behavior. Design thinking in combination with behavioral science has given rise to the concept of behavioral design.
Organizations have increasingly embraced the cloud and made it a core business requirement. This shift from on-premises to the cloud has also meant that organizations are now more open to the idea of leasing out or subscribing to online services. This has given way to XaaS — where X can be almost anything under the sun. Also known as Everything as a Service, XaaS represents the increasing servitization of technology.