Evolution and Future Trends in Supply Chain Management
Keywords:
Supply Chain Management (SCM), Digital Twins, Circular Economy, Resilience and Risk Management, Advanced Analytics, Customer-Centric Supply Chains, Sustainability, Lean and Agile Methodologies, Internet of Things (IoT), Blockchain TechnologyAbstract
Supply Chain Management (SCM) is a pivotal element in the operations of contemporary businesses, encompassing the entire flow of goods, information, and finances from raw materials to final consumer products. This review traces the historical evolution of SCM, from its early focus on logistics to its current comprehensive role in global business strategy. It highlights the shift towards integrated systems and collaborative practices that enhance coordination among all supply chain stakeholders. Key current practices such as lean and agile methodologies, sustainability initiatives, and the integration of advanced technologies like the Internetof Things (IoT), Artificial Intelligence (AI), and blockchain are examined. Furthermore, the review explores emerging trends that are shaping the future of SCM, including digital twins, the circular economy, resilience and risk management strategies, advanced analytics, and customer-centric supply chains. By understanding these developments, businesses can better prepare for and adapt to the evolving landscape of supply chain management, ensuring efficiency, sustainability, and resilience in their operations.
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