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Impact of Future Evolution in Supply Chain Function on Logistics Operation

   

Added on  2019-09-23

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CONTEMPORARY LOGISTIC
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ABSTRACTThere are number of changes will be happen in the supply chain and logistic function offirm in a technologically driven society. These changes will provide support to the futureoperations of firm. In this regard, it has been examined that changes such as blockchain,conversational user interface, artificial intelligence and internet of everything are being regardedas major evolution which will transform the supply chain operation completely. These will havepositive impact on the sales and profitability related condition of organization. In addition to this,the given thing will also help in improving the competitive effectiveness of firm. However, thesechanges will come up with different type of challenges such as complete restructuring andresistance to change by workers etc. These can be managed if firm will take significant measureswith regard to the same.
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TABLE OF CONTENTSTOPIC..............................................................................................................................................1INTRODUCTION...........................................................................................................................1MAJOR ISSUES IN SUPPLY CHAIN AND LOGISTIC FUNCTIONS......................................1Inventory management................................................................................................................2Risk management.........................................................................................................................2FUTURE OF LOGISTICS AND SUPPLY CHAIN IN TECHNOLOGICAL DRIVENSOCIETY........................................................................................................................................3Blockchain...................................................................................................................................3The artificial intelligent value chain............................................................................................4Conversational user interface......................................................................................................5Internet of Everything..................................................................................................................5BENEFITS OF FUTURE EVOLUTION IN SUPPLY CHAIN FUNCTION TO FIRM...............6CHALLENGES ASSOCIATED WITH FUTURE EVOLUTION IN SUPPLY CHAINFUNCTION FOR FIRM..................................................................................................................7RECOMMENDATION...................................................................................................................8CONCLUSION................................................................................................................................8REFERENCES..............................................................................................................................10
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TOPICThe future of logistics and supply chain in technological driven societyINTRODUCTIONLogistic and supply chain management is being regarded as two most importantdepartment of an organization. Logistic management is the component of supply chain functionwhich ensures that the manufactured goods should reach to its customers within a given specifiedtime frame (Jiao, Wang & Liu, 2017). Supply chain management is the activity which managesall products related functions. It starts with the storage of raw material and ends when productsuccessfully reached to its buyer. This showcases that it involves all the functions such asinventory management, raw material management, and logistics management. The concept of digitization is bringing major changes in the varied functions of the firm,thus supply chain department is not an exception. In this regard, it has been seen that there isdrastic change is being seen in the supply chain function of the firm. It is happening all becauseof the influence of new technology in the respective field. Here, this report will give adescription about future of logistics and supply chain operation in technology-driven society. Inthis regard, at first brief description will be given about the issues which are being faced by thesupply chain department of the firm. Secondly, the discussion will be carried out upon the futuretrends in logistics and supply chain function. Thirdly, benefits, as well as challenges of thesetrends upon the operations of company, will be discussed. Finally, at the end report will bewrapped with a conclusion. 1
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