Competitive Manufacturing Supply Chain Strategies in Dynamic Environment
The quote “Companies do not compete, Supply chains do” effectively summarizes the importance of Supply Chains. Supply Chain Management is at the heart of any business in today’s VUCA world, it’s the importance and dominance being magnanimous. The world today is very dynamic. Every organization needs to be on the very edge to be profitable and competitive supply chains are the only definite path to achieving this goal. The advent of digital technologies like 3D printing, Internet of Things, Blockchain and Industry 4.0 is revolutionizing the way supply chains are managed. The relationship between suppliers, customers, logistics partners and manufacturers are undergoing a paradigm shift at a breakneck pace. Yet, the fundamentals of process integration, value for the customers, forecasting and demand management, and optimization remains the same. A successful marriage between the cutting edge ideas and the core values can give a competitive advantage in an organization’s Supply Chain. For such wide issues to be tackled at the organizational level and provide the competitive edge, Research is the tool that companies are investing in. Through research, within organizations and across the B-School campuses; path breaking ideas and theories are being conceived, developed and implemented to harness the power of Supply Chains and make the supply chains competitive in this dynamic world.