At the US-India Forum, PM Modi Underscores India’s Role in Global Supply Chains

The past 18 months have been extremely challenging for the global supply chain.

For some companies, the pressure that arose due to the Covid-19 pandemic pushed them to their limits, unveiling all the inefficient areas that needed to be improved.Unfortunately, these shortcomings just got worse when new supply chain challenges and extensively dynamic market conditions added to the woes of the global supply chain.

Top international supply chain services also faced difficulties in terms of coping up with the challenging conditions.Let’s delve into some of the emerging supply chain challenges and see how the businesses can cope up with them:Lead Time Expectations: Ecommerce giants like Amazon, etc have raised consumer expectations in terms of turnaround times.

In order for the global supply chain service providers to meet the expectations of the consumers, more effective demand forecasting and supply planning would be a prerequisite for businesses.

For instance, if need be, companies should be able to leverage air freight contracts considering the land or sea mode to be slower.

Even now, ports around the globe are experiencing record levels of congestion which implies freight shipped by sea is most likely to get delayed.Businesses are experimenting and coming up with different solutions to this problem.

Firstly, to optimize a Supply Chain one must be clear in defining it and understanding its intricacies.Secondly one must clearly understand the Goals and Purpose of the Supply Chain, on essence its Mandate.Thirdly, Vision and Mission, create one, you will need it!

You must understand that Supply Chains are dynamic mechanisms that require intense Systems Thinking Acumen.

Systems Thinking is a methodology of Strategic Thinking in which one envisions the desired outcome, then works holistically backward, to create strategies to realize one’s vision.Once the above items are identified and understood the following actions must take place:1.)

Leverage the creation of a Strategic Supply Chain Plan such as the following:The above Hoshin Strategic Plan assigns People, Metrics, Targets to a clearly Articulated Purpose2.)

Leverage Operations Research which will focus on the understanding of the interaction of the following components:Process variablesPeople variablesMaterials variablesLayout variablesNetwork variablesMetrics variablesMachines variablesTechnology variablesOperations Research is based on Systems Thinking, or the interaction of the above components to achieve a Desired Outcome or Mission Articulated in the prior table.The primary outcome of Operations Research is to determine the appropriate Systems Settings or how to regulate and configure the above variables to achieve a certain Supply Chain Outcome or Mission.3.

) Leverage some of the following Tools to understand your Supply Chain:Design of Experiments, Predictive Analytics, Prescriptive Analytics, Descriptive Analytics, Spaghetti Analysis, SIPOC Models, Value Stream Mapping, Time and Motion Audits, Network Diagram Analysis, Critical Path Analysis, Chi Square, Hypothesis Testing, Control ChartingExample:Value Stream Mapping4.)

The global Blockchain Supply Chain Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.

Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.

The major players in the Blockchain Supply Chain include IBM, Microsoft, SAP, AWS, Oracle, Huawei, Guardtime, Bitfury, TIBCO Software, Interbit, Auxesis Group, VeChain, Digital Treasury Corporation, Chainvine, OpenXcell, Datex Corporation, Algorythmix, BlockVerify, and Applied Blockchain..

This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Blockchain Supply Chain Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/blockchain-supply-chain-market/download-sampleMarket SegmentationThe broad Blockchain Supply Chain has been sub-grouped into the Offering, Type, Application, Organization Size, Verticals and Region.

The report studies these subsets with respect to the geographical segmentation.

The strategists can gain a detailed insight and devise appropriate strategies to target specific market.

The advent of IoT allows a company to boost its supply chain.

From forecasting and planning to customer support, all processes associated with the supply chain can be monitored and managed from the technology of the Internet of Things.

Sensors and other IoT devices collect information pertaining to the functioning of the supply chain and send it to a platform where the data can be easily accessed.With the help of this end node data, a company can balance the supply and demand conditions, boost its fleet management operations, improve warehousing and inventory, enrich the quality of products, and make smart decisions to elevate end to end supply chain processes.Visit: https://www.biz4intellia.com/blog/iot-elevating-supply-chain-processes/