For multiple decades the focus of supply chain management was cost reduction by using various concepts like inventory minimization, JIT, offshoring, and automation, according to Pushpinder Singh, Global Leader, Supply Chain Transformation at IBM Consulting.
Amazon has disrupted books, toys, clothing, fast-moving consumer goods industry in last 20 years. Uber has disrupted the transportation industry. Airbnb has changed the hotel and logging Industry. Self-driving cars have potential to disrupt 10+ industries and most recently Open AI-based chatbots can disrupt all industries and change the way how we interact with machines.
“A healthy equilibrium in the supply chain is a state where products flowing through all the nodes of the supply chain are optimal based on demand and supply at these nodes, leading to zero waste and minimal cost,” said Singh. “Every organization is trying to unlock value by automating mundane tasks using , building cross-functional intelligent workflows for faster decision making and Open AI based Chatbots to make consumer experience uniform,” said Singh. “These concepts will gain momentum in the next few years and many companies will move toward self-healing supply chains to define new supply chain models and disrupt or make existing supply chain models obsolete.