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Measuring the Broader Value Proposition of Digital Transformation in Supply Chains
Full text linkThe advent of digital transformation within supply chains heralds a new era of efficiency, innovation, and resilience. This paper explores the multifaceted impact of digital technologies—such as the Internet of Things (IoT), artificial intelligence (AI), blockchain, and cloud computing—on supply chain management. Through a comprehensive review of current literature, we identify the challenges and opportunities presented by digital transformation, emphasizing the importance of overcoming infrastructural constraints, skill gaps, and security concerns to harness the full potential of these technologies. Furthermore, we delve into the ethical considerations and social impacts, highlighting the imperative for sustainable and responsible practices in the digital age. The paper also forecasts future directions and emerging technologies, underscoring the need for supply chains to adapt to and capitalize on these advancements for sustainable growth and competitive advantage. Our analysis concludes that while digital transformation presents significant challenges, it also offers unparalleled opportunities for supply chains to become more agile, transparent, and customer centric. The successful integration of digital technologies not only enhances operational efficiency but also drives innovation, fosters sustainability, and strengthens resilience against global disruptions. This paper contributes to the ongoing discourse on digital transformation in supply chains, providing insights for academics, practitioners, and policymakers on navigating the complexities of this digital revolution
Integrating Technology in Hospital Supply Chain: Pathway to a Sustainable Healthcare Ecosystem
Full text linkThe importance of sustainable practices within hospital supply chains has never been more pronounced than in the contemporary healthcare landscape, particularly in the wake of global health challenges. This research paper extends the discourse on sustainable hospital supply chain management (SHSCM) by examining the role of Technology Supply Chain Applications (TSCAs) as a catalyst for Sustainable Societal Advancement (SSA). Drawing from a substantial sample size of 401 respondents and employing factor analysis via structural equation modeling (SEM), the study upholds methodological integrity and rigor. The paper unveils a novel perspective on how TSCAs can revolutionize SHSCM by promoting efficiency, transparency, and collaboration, which are crucial for societal progression in the post-pandemic era. The findings affirm both hypotheses, with the data revealing a significant positive relationship between TSCAs and SHSCM, and between CIF-infused SHSCM and SSA. The implications of these relationships are manifold, indicating that the integration of technology within hospital supply chains is not merely a facilitator of internal process improvements but also a strategic contributor to societal well-being. The paper also navigates through the complexities of implementing TSCAs in SHSCM, presenting a balanced viewpoint by considering the limitations, such as the study's geographical and demographic specificity, which may affect the generalizability of the results. Beyond confirming the positive impact of TSCAs on SHSCM and SSA, the research offers actionable insights for healthcare practitioners and policymakers. It emphasizes the need for strategic investments in technology to enhance the resilience and sustainability of hospital supply chains. The study concludes by advocating for a concerted effort towards embedding technology at the core of hospital supply chains. This strategic pivot is crucial not only for the recovery of healthcare systems but also for laying the foundation for a more sustainable and socially responsible future. It highlights the need for a comprehensive and collaborative approach that leverages technology to overcome current challenges and drive forward the agenda of sustainable development within healthcare and beyond. Through this research, a compelling case is made for the strategic enhancement of technology within hospital supply chains as a means to foster societal advancement, providing a blueprint for future research endeavors aimed at bolstering the global healthcare landscape
The Impact of Technology and COVID-19 on Mergers and Acquisitions: Implications for Supply Chain Management
Full text linkThis paper explores the issue of MA as it pertains to Supply chain elements such as Enterprise Resource Planning (ERP), the role of technology, and supply chain efficiency. By exploring the issue further, the research seeks to assess the recent trend of increased mergers and acquisitions (MA) and how the activities affect the supply chain management (SCM) role. The results are important in understanding current trends in SCM when it comes to mergers and acquisitions. The discussion covered the role that COVID-19 played in increased trends in MA and technology's role in MA activities and success. The ultimate goal is to understand how technology and COVID-19 impact MA activities and how, in turn, the supply chain management role gets affected
Impact of Artificial Intelligence in Building Supply Chain Resiliency
Full text linkSupply chains are frequently exposed to disruptions, which can be either positive, driven by technological advancements, or negative, caused by natural and man-made disasters. This study aims to explore the possibilities and implications of building supply chain resilience through AI-driven AR/VR simulations. In light of the disruptions experienced during the COVID-19 pandemic, there has been a growing interest among both researchers and practitioners in the role of digital technologies in enhancing end-to-end visibility within supply chains and their potential for boosting resilience.The study provides insights into how leveraging the dynamic capabilities of supply chains through AI technology can strengthen resilience. It offers a forward-looking perspective on how emerging technologies will shape modern supply chains and play a crucial role in improving their resilience. The article underscores the transformative potential of AI, highlighting its ability to equip supply chains to better withstand disruptions and mitigate associated risks
Evaluating Supply Chain Performance through Financial Metrics: A Study in a Manufacturing Industry
Full text linkThis empirical study is based on primary data emphasizing the importance of evaluating supply chain performance through financial metrics, each activity within the supply chain directly impacts both the top line and bottom line of a business. In today's challenging business environment, organizations must prioritize monitoring their financial performance to ensure enduring resilience. The economy of Bangladesh has encountered turbulence due to disruptions such as the aftermath of the COVID-19 pandemic and the ongoing global political unrest. These occurrences have significantly impacted the business landscape, resulting in uncertainties in both demand and supply, shifts in consumer purchasing patterns, and notable increases in the prices of essential commodities and raw materials, therefore, the overall cost of business has risen. This study investigates the consequences of various disruptions, both internal and external, on the economy, adversely affecting organizations. The ability of an organization to withstand such challenges depends on maintaining robust financial and operational performance. Given the persistent global upheaval, there is a compelling need for an innovative approach to enhance supply chain optimizations, overall operational efficiency, and meticulous budget control and variance analysis aligned with financial planning. This is crucial at a substantial level to ensure positive entries in the profit and loss account and maintain a healthy cash flow statement. This study is done based on twenty-four (24) manufacturing sectors of Bangladesh. To address these challenges, the study advocates an Integrated Supply Chain Performance Measurement (ISCPM) model. This model contributes to academia through a novel approach, demonstrating its effectiveness by employing ten attributes to evaluate supply chain performance, with a specific focus on the financial performance termed Financial Health (FH), an attribute to measure supply chain performance in an organization. The study further elaborates Financial Health attributes into five key Performance Measurement Index (PMI) which are Economic Performance, Cost, Budget Variance, Inventory, and Planning Variance —within the context of manufacturing operations, providing insights into various facets of their impact. The study significantly contributes to the industry for practitioners by bringing synergy into the framework and performance measurement attributes, ultimately adding value to the manufacturing industry
Driving Towards a Sustainable Future: Optimizing Electric Vehicle Utilization in Last-Mile Supply Chain Operations
Full text linkThis is an era where environment has become one of the key concerns due to progressive deterioration caused by human activities that generate pollution. Hence it has become imperative for businesses to alter their strategies pertaining to operation and transport logistics and chose and implement more environment friendly options. Almost without exception, the logistics sector of any enterprise is the one with a significant carbon footprint, if not the largest. The growing gravity of the environmental damage has urged the enterprises to initiate a significant move towards choosing an alternative method of operation that is not only less polluting but is also a more sustainable option. This article evaluates the use of EV as a sustainable green alternative for last mile logistics and creates the scope for further research on possible alternatives
Demand Planning: Riding Disruptive Wave of AI and Accelerated Computing
Full text linkTraditional demand planning methods often struggle to keep pace with the complexity, volatility, and vast datasets inherent in modern supply chains. Artificial intelligence (AI) offers a transformative solution, revolutionizing demand planning with its ability to analyze vast amount of data, identify complex patterns, and generate highly accurate forecasts. This paper explores the latest advancements in AI for demand planning, encompassing machine learning, deep learning, and natural language processing (NLP). The focus is on how these techniques enhance demand sensing capabilities, incorporating real-time market signals, external data sources, and unstructured text information. Furthermore, the potential of AI to optimize inventory management, enable scenario planning, and increase supply chain resilience in response to unexpected disruptions are examined. The paper also addresses practical challenges in implementing AI-powered demand planning solutions, and outlines areas for future research. Most importantly, the paper provides the robust methologies to integrate the emerging AI developments in demand planning process
Big Data and its Impact on Demand-Driven Material Requirements Planning
Full text linkIntegrating Big Data into Demand-Driven Material Requirements Planning (DDMRP) has become a game- changer in supply chain management. This study explores Big Data’s significant impact in the context of DDMRP. Big Data, sourced from various channels such as online transactions, sensor data, social interactions, and more, can transform demand forecasting, inventory management, and overall supply chain optimization. By allowing real-time data analysis and predictive modeling, organizations can make informed and agile decisions that drive cost reduction, inventory optimization, and improved customer service. However, implementing Big Data in DDMRP has its challenges, including data security and the need for advanced analytics capabilities. This research delves into the application, benefits, challenges, and impact of Big Data implementation in DDMRP. The study provides valuable insights for organizations seeking to leverage their potential. The findings underscore the significance of Big Data in reshaping supply chain strategies and enhancing the responsiveness of modern businesses in a dynamic market environment. The uniqueness of this paper lies in examining how Big Data, sourced from various channels, can revolutionize demand forecasting, inventory management, and overall supply chain optimization. The research also highlights the challenges of Big Data adoption in DDMRP, including data security and the need for advanced analytics capabilities
Sustainability Beyond Compliance: Exploring Technology`s Role in Driving Sustainability Across Supply Chains
Full text linkThis paper discusses the growing importance of adopting sustainability in supply chains beyond compliance. This paper is based on a comprehensive examination of over 30 literary works to provide a thorough analysis of the subject matter. The study sheds light on the imperative of sustainability in supply chains considering environmental, social, and business efficiency aspects, as well as the influence of conscious consumers and investors. The objective of this paper is to delve into how emerging technologies can be utilized to solve the challenges in adopting Sustainability in Supply Chains. The discussion focuses on sustainability beyond compliance, and the role of technology. The findings highlight that the emerging digital technologies such as big data analytics, the Internet of Things (IoT), Block chain technology Artificial Intelligence (AI) offer promising avenues for companies to achieve sustainability in supply chains
Integrating Forecasting & Planning Management for Sustainable Hospital Supply Chains and Societal Advancement
Full text linkThis research investigates the critical interplay between Forecasting Planning Management (FPM) and Sustainable Hospital Supply Chain Management (SHSCM), exploring their collective impact on Sustainable Societal Advancement (SSA). Anchored on a sample size of 401, the study employs IBM SPSS for factor analysis and IBM AMOS for structural equation modeling, ensuring the reliability and validity of the results. Two hypotheses form the backbone of this research: Firstly, the study hypothesizes a significant relationship between FPM and SHSCM. Secondly, it posits a consequential link between SHSCM, invigorated by Collaborative Information Flow (CIF), and SSA. Both hypotheses are substantiated with robust empirical evidence, indicating positive impacts. The research unravels the pivotal role of FPM in enhancing hospital supply chain sustainability, highlighting its significant influence on SHSCM. This relationship is vital for efficient resource allocation, cost efficiency, and overall sustainability in hospital operations. The study further delves into the transformative effect of SHSCM on broader societal well-being, emphasizing its substantial positive influence on SSA. The findings suggest that sustainable practices within hospital supply chains extend beyond immediate healthcare benefits to broader societal and environmental impacts, contributing to economic stability, environmental conservation, and enhanced public health. Methodologically, the study adopts a comprehensive approach, utilizing factor analysis to validate the reliability of survey responses and structural equation modeling to assess the interrelations among FPM, SHSCM, and SSA. The research's adherence to established validity and reliability criteria is evident in the satisfactory factor loading scores, the KMO measure, and Cronbach's alpha coefficients. While affirming the proposed hypotheses, the study also acknowledges its limitations, particularly its focus on the hospital sector in Bangladesh, which may affect the generalizability of the findings. Furthermore, the cross-sectional nature of data collection points to the potential for longitudinal studies to better comprehend the temporal dynamics of these relationships. The study concludes with a call for future research to broaden the geographic scope and incorporate diverse healthcare settings, thus enriching the global understanding of these dynamics. Additionally, it suggests exploring the integration of digital innovations in FPM and SHSCM to further optimize supply chain processes and enhance sustainability. Overall, this research contributes significantly to the field of sustainable healthcare management, offering empirical evidence on the importance of forecasting and planning in healthcare supply chains and their broader societal implications. It paves the way for healthcare practitioners, policymakers, and researchers to foster sustainable practices in hospital supply chains, ultimately aiming for societal well-being and global health advancements