Supply chains can be complex dragons that fail to adapt and change when the market changes or unforeseen circumstances rear their ugly head. Static systems are fixed and have a hard time adjusting without great cost or difficulty. Research by Dr. Dimitry Ivanov helps highlight the interconnected nature of supply chains and adaptive adjustments within networks that are interlinked to the supply chain strategy, design, planning, and operations (2009). A fundamental adjustment in the feedback information and structure of the chains is needed. Each of the components of a supply chain functions together to create an efficient system that delivers products and services to customers. Using technology and modern theory in supply chain management helps to ensure the network is updated, adjustable, and running at maximum efficiency. Each of these components is aligned with management’s goals and the appropriate measurements that ensure goal attainment (Kreipl & Pinedo, 2004).
Showing posts with the label technology and supply chains