What do you think the supply chain will be or look like in the next 10+ years? (Practitioners, Strategies, Networks, Tech & Tools, etc.)
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<mention id="651db4b723b9e10001d1bf90" displayname="Ji Li"></mention> Indeed, the fundamentals of the supply chain start with customer demands and it traces back to why the business has existed in the first place. The next generations of supply chains will also consider the business impact on the communities, society, all beings, people, and the planet. It extends beyond satisfying customer demand and hopefully, we will see more mindful businesses in the future as well. Great insights. Thank you for sharing.<br>
In the next 10+ years, supply chains will become more digitized, resilient, and sustainable, leveraging technologies like IoT, AI, and blockchain. E-commerce growth, autonomous vehicles, and data analytics will reshape logistics and distribution, while a circular economy and ethical considerations will play a more significant role. Supply chain practitioners will need to adapt to new skill requirements and navigate evolving trade regulations and societal expectations.
<mention id="646cbc502bf7b10001554e8e" displayname="Prince Jacob A John Archibald"></mention> You brought up great points. Indeed, Enabling emerging technologies plays a key role in making digital supply chains a reality and the next generations of logistics. I agree, that circular economy and ethical & moral calls would make a significant impact on shaping new business models and supply chains, along with new elements of KPIs to reflect such factors. Great insights. Thank you for sharing.<br>
Supply Chains have evolved a lot over the past 40 years from initially being focused on just physical distribution and logistics to the full spectrum of the value chain. The original National Council of Physical Distribution became the Council of Logistics Management and has now become the Council of Supply Chain Management Professionals. Specifically a few developments I expect to see in the next decade (some may be aspirational) are
1. A transition to more local and sustainable supply chains. Reshoring has already started due to Geo-political considerations but as the income levels of low cost countries grow and aging population slows the relative advantage of country specialization, supply chain complexity should ease.
2. Risk reduction imperatives will drive long multi-echelon supply chains to shorter, quicker, more responsive supply chains to address diverse markets.
3. Additive manufacturing will increase with competitive costs and more sophistication to deal with local variations in demand with super fast responsiveness and custom configurations.
4. Process and production automation will increase in response to aging populations and worker shortages in the future.
5. Technology in the future supply chains will be more integrated, inter-operable and easy to implement (hopefully!).
6. Machine learning will make routine decision making in the supply chain mostly automated freeing labor to focus on innovation and productivity.
7. With stringent ESG reporting supply chain sustainability, net zero emissions and reduce/reuse/recycle objectives will be central to supply chain strategy in addition to cost and speed goals.
Great observations, @Lalit Panda. Thank you for sharing with us.<br><br>Totally agree with you. The #3 Additive Manufacturing's impact on supply chains will be significant and can eliminate almost the entire supply chain.
The dream is to have a Supply Chain recognized as a core competency in more organizations and the function being more involved in the C suite in making all strategic decisions. Technology-driven, Upskilled and diverse human capital will be the heart of the transformation fostering innovation and sustainability for a greater end to end customer experience.
Great point @Matheen Sait. I agree with you. Please keep up your great work.<br><br>It is hard to believe that some organizations still do not take advantage of how the supply chain function and discipline can greatly benefit the whole organization. It starts with customer needs and it ties to why the business has ever existed in the first place.<br>
Simple put, supply chains must evolved. Adopting an innovative culture with better provision for cost and self reliance will be key.
Indeed, Pedro. Agree with your perspectives. Thank you for sharing.<br>
The fundamental of supply chain would still be the same, manage supply to satisfy demand. There will be new tools and new acronyms adopted and applied in various degrees. So like to a high risk building, the top will be trendier and more efficient, the foundation would be hard to change.