Changing Dynamics of Supply Chain

My 2nd ECBP (Enable Communication from a Business Perspective) Training Class Assignment Was To Present "Changing Dynamics of Supply Chain" below is my short assignment;

Being a supply chain manager forecasting of demand have an immense importance to meet the consumer needs at the right time in the right place. A strong relationship in the market helps to understand the market trends as well as helps to forecast the demand and respond quickly in terms of Production, Transportation, Warehousing and distribution. In the era of digitalization, getting the right product at the right place and right time is key for differentiating the end customer experience.

Supply chain is responsible to make the product available in every zone where the demand exists and initiate the following steps to fulfill the demand;

• Introducing New Technologies
• Come-up with Innovative Ideas
• Become a Fast service provider
• Economical/Reasonable Cost and Durable Product 
• Create Manufacturing Units where huge demand exists
• Create Distribution Centers in every zone where demand exists respectively

Supply chain should keep the product track with unique identities which could be with the help of unique “Bar Codes” or “digital unique serial number” or any other technologies which helps to track and identify the product across the supply chain in real time. In order to digitalize the product, we should develop an environment to promote excellency in various processes, so they can work in consistency/unity.

While manufacturing the product, Supply Chain should consider the different aspects such as “Impact of product towards end-user” which could be Customer, Vendor or any other contributor. For understanding the impact of product to the consumer, Supply Chain should focus on the customer requirements, why the product is required? how the customer will utilize the product? and what would be the outcome? Conducting a survey is one of the sources to understand the requirement. Supply Chain understanding must be very clear whether we are manufacturing the product for the sake of Earnings or for customers satisfaction. 

Conduction of trainings and meetings every week can helps to build a strong teamwork and coordination culture amongst the employees which leads to introducing new Ideas and Innovations in order to improve a dramatic efficiency. People, process and technology act as the key enablers when they work in orchestration. 

Cost reduction is another challenge for supply chain;
From the client/customer/consumer’s perspective, they required durable and environment friendly products within reasonable cost therefore, management needs to;

• Conduct monthly production meetings for reducing the cost and continuous improvement in the processes. 

Impact:
Monthly meeting will allow Supply Chain to analyze and reduce wastage of variable costs, which will also give clear picture of KPI’s and process improvements.

Another way to reducing the cost:

• Supply Chain Management can marginally reduce freight cost by/with the help of peers or relationships with other industries.

The presence of a robust and well-planned logistics infrastructure, effective logistics management system enables seamless movement of goods from the point of origin to that of consumption, and boosts economy. From a client perspective, the option of flexibility and customization in growing the space as per their business needs translates into being value for money.

For the continuous improvements Supply Chain should focus on the following parameters;

1. Efficiency Issues
2. Process Excellence
3. Cost Control
4. Trend Check
5. Risk Factor