Contemporary Logistics: Future of Supply Chain in a Tech-Driven World

This report provides a comprehensive analysis of the future of logistics and supply chain management in a technologically driven society. It begins by outlining major issues in supply chain and logistics, including inventory and risk management. The core of the report focuses on emerging trends such as blockchain, artificial intelligence value chains, conversational user interfaces, and the Internet of Everything, detailing their potential impact on supply chain operations. It further explores the benefits of these technological advancements, such as increased customer satisfaction, and addresses the associated challenges, including the need for restructuring and managing resistance to change. The report concludes with recommendations for firms to successfully navigate these transformations. The report highlights how companies can improve their competitive effectiveness by adopting these technologies. The report is available on Desklib, which offers past papers and solved assignments for students to aid in their studies.

CONTEMPORARY LOGISTIC

ABSTRACT
There are number of changes will be happen in the supply chain and logistic function of
firm in a technologically driven society. These changes will provide support to the future
operations 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 regarded
as major evolution which will transform the supply chain operation completely. These will have
positive 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, these
changes will come up with different type of challenges such as complete restructuring and
resistance to change by workers etc. These can be managed if firm will take significant measures
with regard to the same.

TABLE OF CONTENTS
TOPIC..............................................................................................................................................1
INTRODUCTION...........................................................................................................................1
MAJOR ISSUES IN SUPPLY CHAIN AND LOGISTIC FUNCTIONS......................................1
Inventory management................................................................................................................2
Risk management.........................................................................................................................2
FUTURE OF LOGISTICS AND SUPPLY CHAIN IN TECHNOLOGICAL DRIVEN
SOCIETY........................................................................................................................................3
Blockchain...................................................................................................................................3
The artificial intelligent value chain............................................................................................4
Conversational user interface......................................................................................................5
Internet of Everything..................................................................................................................5
BENEFITS OF FUTURE EVOLUTION IN SUPPLY CHAIN FUNCTION TO FIRM...............6
CHALLENGES ASSOCIATED WITH FUTURE EVOLUTION IN SUPPLY CHAIN
FUNCTION FOR FIRM..................................................................................................................7
RECOMMENDATION...................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10

TOPIC
The future of logistics and supply chain in technological driven society
INTRODUCTION
Logistic and supply chain management is being regarded as two most important
department of an organization. Logistic management is the component of supply chain function
which ensures that the manufactured goods should reach to its customers within a given specified
time frame (Jiao, Wang & Liu, 2017). Supply chain management is the activity which manages
all products related functions. It starts with the storage of raw material and ends when product
successfully reached to its buyer. This showcases that it involves all the functions such as
inventory 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 is
drastic change is being seen in the supply chain function of the firm. It is happening all because
of the influence of new technology in the respective field. Here, this report will give a
description about future of logistics and supply chain operation in technology-driven society. In
this regard, at first brief description will be given about the issues which are being faced by the
supply chain department of the firm. Secondly, the discussion will be carried out upon the future
trends in logistics and supply chain function. Thirdly, benefits, as well as challenges of these
trends upon the operations of company, will be discussed. Finally, at the end report will be
wrapped with a conclusion.
MAJOR ISSUES IN SUPPLY CHAIN AND LOGISTIC FUNCTIONS
Before carrying the discussion on the future trends of logistics and supply chain in
technological driven society, it is important that information manager of firms should gather
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information about the issues which are creating a problem in the supply chain operations. The
detailed description of the issue in supply chain and logistic functions are given below:
Inventory management
It is being regarded as one of the most significant problems which are being faced by
many firms. It is very important for the firm that it should manage its inventory effectively
because it has a direct connection with the company’s product cost. Not having a sufficient stock
of raw material and delay in the delivery of goods are some major issues which are related to the
inventory management function (Takayama and et.al., 2017). These issues tend to have a direct
impact on the satisfaction level of buyers. This is because; these issues slow down the product
manufacturing process. As a result of this, the manufactured or the demanded good will not
reach to the buyers within a given specified time frame in an effectual way.
Risk management
There are different types of risks associated with the supply chain operation. These are
the risk of transport truck accident, short circuit and company software breakdown. These all
thing will tend to affect the supply chain operation of the firm. But, in case if it is not managed
then the impact of the same will have on the sales and profitability related condition of the
organization. Further, the given thing will also have an impact on the brand image of the firm in
the market (Panayides, 2017). Thus, these two are being regarded as the major issues which need
to be managed by the companies in an effective manner. However, there is a number of
development has been happening in the respective field which will play a very significant role in
the task of dealing with these issues.
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FUTURE OF LOGISTICS AND SUPPLY CHAIN IN TECHNOLOGICAL
DRIVEN SOCIETY
The future of logistics and supply chain function is very bright. This is because there are
several trends identified that are coming in the respective department. These trends are playing a
very effective role in improving the overall operation of firms. In this regard, it can be said that
in the technologically driven society, performing business digitally is becoming the new reality.
However, it is important for the firm that it should transform itself with the changes that are
happening in technology-driven society (Rodrigue, 2017). This is because; if it is not done then it
will become very difficult for them with regard to marking their effectual presence in the market.
In this regard, there are different future trends identified which will completely transform the
picture of supply chain and logistics operation. These are all depicted in below:
Blockchain
People of society are very much concerned about the product which they are purchasing
from the company. The respective problem of firm’s buyers can be resolved with the help of
blockchain technology. It is the type of digital ledger wherein transactions are carried out with
the help of bitcoin. Herein, it is examined that there are several firms which are struggling with
the visibility aspect of their supply chain operation. However, the visibility of supply chain
operation of firms can be enhanced with the help of blockchain technology. Here, with the use of
blockchain technology all the partners of firms including their final customers can track supply
chain activities which start from sourcing of raw material and ends with final delivery of the
product. This is a very effective tool as it assists in building the trust of buyers in the firm. The
main aim of this technology is to bring transparency in the supply chain operation. Here, it gives
the opportunity to customers with regard to see the whole process of the product which they are
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using. However, in case if customers are having any issue in relation to the area of which
organizations are sourcing product. Then in the given situation, they can raise their voice in
relation to the same (Sowers, 2017). For example, a famous retail company named as Walmart is
using blockchain technology in its supply chain operation. Here, the employees of the firm can
clearly see the area from which the goods of the firm are sourced.
The artificial intelligent value chain
It is being considered as another most important innovation which has happened in the
field of supply chain operation. However, at present, it is in an evolution phase. It is also called
by the name of machine learning. It has been seen that in future most of the supply chain
operations will be conducted through machine learning. This is because, the main work of this
technology is to sense the demand of the product and thus on the basis of given aspect it
performs varied other activities such as inventory management, manufacturing, transportation,
and warehouse etc. This machine will help in saving lots of cost of an organization. This is
because; one of a most important reason behind rising cost of firm is its ineffective demand
forecasting (Török, Fedorko & Csiszár, 2017). This is because; the whole supply chain operation
of organizations totally depends on this aspect that how effectively manager identifies the
demand for its product in the market. On the basis of demand forecasting, manager of firms will
have to make varied other decisions which are related with the quantity of raw material is
required and how they are sourced etc. These all activities will become easier with the use of the
artificial intelligent model. This thing will also provide an opportunity to a corporation with
regard to deliver its best services to the customers. Thereby, through this way firm will maintain
satisfaction level of its buyers.
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Conversational user interface
The technologically driven society is in the need of something which will help them in
fulfilling their objective which is of ease of doing. In this context, a very new way of doing
business will be introduced in the market. This conversational user interface will allow
conversation between business users and their supply chain systems. In this regard, in the future
manager of the firm can get information about the problem which is being incurred in their
operation from machines. Here, the machine could be their mobile phone and computer. These
machines will give warning to the managers in the circumstances when something wrong will be
going to happen in supply chain operation. In addition to this, it will not only stock out the
problem but also suggest recommendations which will help the manager to resolve them
effectively (Gunasekaran, Subramanian & Papadopoulos, 2017).
In a similar way, the conversational user interface is bringing major changes in the
logistics operation of the firm. For example, famous vehicle manufacturing company in India
named as Mahindra is using “Smart Shift” in its logistics operation. This technology carries out
the interaction between transport cargo and transporters. This technology performs negotiation
and dealing with the cited company and for this, an operator just has to press one single button.
This technique is saving lots of time for the firm. However, in future, it will become more
effective.
Internet of Everything
This one is the concept which will make supply chain of the firm more innovative. At
present this technology is used by Disney. Herein, for the experimental purpose, Disney has
manufactured one wearable IoE band. It is called as a magic band which will give magical
experience to its respective buyers. This band provides convenience to its customers by
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performing lots of work. For example, this band eliminates the need for the room key and credit
cards etc and allows customers to enjoy their Disney experience without any kind of tension (Li,
2017). In addition, this band also assists in optimizing traffic of customers at the park by
tracking their activity. Further, it also looks after the flow of goods and services which are
happening in the park. In this regard, it can be said that respective thing is just the essence of the
supply chain function but in future, it will become more effective and innovative. Thus, it will
lead to providing lots of benefit to the corporation in an effectual manner.
BENEFITS OF FUTURE EVOLUTION IN SUPPLY CHAIN FUNCTION
TO FIRM
The evolution which will take place in the supply chain operation will tend to provide a
large number of benefits to the firm. These are all depicted in below:
 High level of customer satisfaction: There are various factors which lead to hampering
the satisfaction level of buyers in a negative way. However, among all major factors is of
not receiving the ordered product within a given specified time frame. This thing gives an
indication to the customers that the firm is not concerned about their needs and demands.
Thus, as a result of it, they feel highly dissatisfied with the firm’s services. But, with the
help of above-mentioned future trends firm can meet the expectation of its buyers.
Thereby, it can meet their satisfaction in an effectual manner.
 Enhance sales and profits of the corporation: It is being regarded as another benefit
which is associated with evolution in the supply chain operation. With the help of these
updated supply chain operation, an organization can meet the demands of a large number
of buyers within a given specified time frame (Notteboom, Parola & Risitano, 2017). In
addition to this, this thing will also assist firm with regard to delivering the services of the
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firm within given specified time frame. The impact of the same will be on sales and profit
of an organization.
 Help in reducing the cost of enterprise: It is being regarded as one of the most important
benefits which are associated with supply chain operation. Here, with the use of supply
chain function firm can effectively manage the stock of its inventory. This thing will
assist in reducing the wastages of the firm. It is by complying with given type of activity
the only cost of product wastages can be eliminated. However, the money saved through
this way can be utilized by it for some other purpose.
CHALLENGES ASSOCIATED WITH FUTURE EVOLUTION IN SUPPLY
CHAIN FUNCTION FOR FIRM
The digital changes which are happening in the supply chain function of the organization
will come up with a different type of challenges also. Here, if the challenges are not managed
then the impact of the same will have on the overall productivity of corporation. The detailed
description of the challenges is given below:
 Complete restructuring: One of a most major challenge which is being faced by the
managers of the firm due to these supply chain evolution is complete restructuring.
Herein, the manager will have to transform its operation as per the need and demand of
digitized supply chain function. In this regard, it will have to purchase different
equipment also with an aim to give support to the respective change. For the given task,
the firm will require huge capital. This is easier for the large firm but for the small firm,
the given thing will be consider as a very challenging task. Thus, for the small firms
major challenge here is to obtain capital for the enterprise (Bezruchonak, 2017).
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 Convincing the employees of the firm for such a big change: In accordance with the
given context, it has been seen that any kind of changes which happen within the firm is
always being resisted by the employees. This is because; they do not like to move from
their present state of working (Bezruchonak, 2017). In the given condition, it became
very difficult for the manager of a corporation with respect to convincing them for
accepting the change. However, if the manager fails in doing so then in the given
situation significant impact of the same will be seen on sales and profit of enterprise.
RECOMMENDATION
There are different recommendations are recommended to the manager of the
organization. These will assist firms in the task of updating itself as per changes which will
happen in the supply chain operation. These all are enumerated in below:
 At first, it is suggested to the manager of a firm that it should form the strategies for
managing the resistance of its employees. This can be done by communicating them
about the benefit of adopting respective change. Further, the manager should also make
effort in term of involving its employee in the process of change. This is because it is
considered as another most effective approach for managing employee’s resistance.
 It is recommended to an organization that it should make effort in terms of updating
skills o its employees as per new supply change operation. This can be done by
organizing training and development program for the employees.
CONCLUSION
Articulating all the facts from above report, it can be concluded that the future of supply
chain function and logistic operation will become more effective if these digital evolutions are
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implemented in the operation. With the help of given thing, an organization can attract a large
number of buyers towards its services. Further, the given thing will also cause positive impact on
the sales and profitability condition of the organization in an effectual manner. In addition to
this, these changes in supply chain operation will also help in terms of enhancing competitive
effectiveness of organization. Thus, it is correct to say that the future of supply chain and
logistics operation in the technological driven society is very much progressive.
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REFERENCES
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Research Part E: Logistics and Transportation Review, 99, 14-33.
Jiao, Z. L., Wang, L., & Liu, B. L. (2017). Contemporary Logistics in China. Springer.
Li, X. (2017). Development of China’s Green Logistics. In Contemporary Logistics in
China (pp. 213-229). Springer, Singapore.
Notteboom, T., Parola, F. & Risitano, M. (2017). A taxonomy of logistics centres: overcoming
conceptual ambiguity. Transport Reviews, 37(3), 276-299.
Panayides, P. M. (2017). Global supply chain integration and competitiveness of port terminals.
In Ports, cities, and global supply chains (pp. 43-56). Routledge.
Rodrigue, J. P. (2017). A review of The Rule of Logistics: Walmart and the Architecture of
Fulfillment. By Jesse Lecavalier.
Sowers, E. A. (2017). Logistics labor: Insights from the sociologies of globalization, the
economy, and work. Sociology Compass, 11(3).
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Takayama, H. and et.al. (2017). Contemporary ECMO Therapy for Postcardiotomy Shock: From
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Journal of Heart and Lung Transplantation, 36(4), S138-S139.
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