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ISSN 2063-5346
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MODERN SUPPLY CHAIN MANAGEMENT AND ITS ADVANTAGES FOR EFFICIENT WORKING IN INDUSTRIES

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Dr. Deepak Bhimrao Magar, Dr. Ramkisan S. Pawar, Dr. M. S. Kadam, Mr. S.G.Chaudhari, Mr. N.V. Sawadekar, Dr. D. M. Khandare
» doi: 10.53555/ecb/2022.11.11.115

Abstract

In today's dynamic and fiercely competitive business environment, the role of technology in modern Supply Chain Management (SCM) has become increasingly indispensable. This paper delves into the transformative impact of cutting-edge technologies such as Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), blockchain, and automation on SCM practices. Through a comprehensive analysis of academic literature and real-world case studies, we explore how these technologies have revolutionized traditional supply chain processes, empowering organizations to achieve heightened levels of efficiency, transparency, and responsiveness. We thoroughly examine key areas of technology-driven SCM, including demand forecasting, inventory optimization, real-time tracking, and collaboration among supply chain partners. Furthermore, this paper underscores the significance of technology adoption in SCM, emphasizing the strategic advantage it confers in adapting to market changes, mitigating risks, and enhancing customer experiences. We also discuss the future prospects of technology-driven SCM, presenting exciting possibilities for end-to-end supply chain visibility, predictive analytics, and sustainable practices. Overall, this paper underscores the critical role of technology in shaping the future of Supply Chain Management and its pivotal importance for organizations striving for excellence in today's rapidly evolving business landscape.

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