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Despite the fact that the last two years have been a rollercoaster ride for businesses in many ways due to the pandemic, they have evolved and progressed. The remote work trend isn't going away, and supply chains need to be strengthened more than ever. Even while restrictions have been reduced, authorities are aware that there will still be supply chain disruptions in the future.
Much like living creatures, supply chains must develop to exist. The supply chain software industry is changed by new technologies like robotic process automation (RPA), cloud computing, and artificial intelligence (AI), which replace weak links.
And in this rapidly changing business scenario, to make change industry specialists and business aspirants need to be adept with the latest technology and procedures. MBA in Supply Chain Management is one of the best specialization options for MBA students that train them about the logistics and back-end processes of a company unit.
Industries across the world are working to increase efficiency, reduce risk, and streamline execution as they look for methods to establish a genuine competitive advantage. To achieve these objectives data-driven networks, utilizing the most recent digital transformation capabilities, putting risk management and resilience first, streamlining logistics, and many other things will be necessary. By anticipating these and other important changes, supply chains may actively create a thriving, sustainable future.
Let’s have a look at the rising trends in the supply chain management sector that are to come in the near future.
1. Rising Costs
The global economy is being affected by inflationary trends, which also have an immediate impact on supply chains and delivery services. An excellent example of a direct supply chain disruption is the increase in fuel prices. Another is the lack of workers, which has increased labor costs while decreasing productivity.
Retailers are experiencing the consequences of this mix of reduced consumer spending, inflation, and rising delivery costs. Given that the last mile accounts for 53% of all shipping expenses, retailers looking to improve efficiency and reduce costs should concentrate on their last-mile delivery operations.
2. Diverse delivery partners
Despite the state of the economy and issues with the supply chain, eCommerce is expanding at a remarkable rate. There is a persistent shortage of delivery carriers due to the rising volume of shipments. Retailers must therefore vary their carriers to guarantee that their goods are delivered on time, no matter their geographic locations. Working with numerous carriers and having a backup plan in place is essential given the present shortage of trained drivers.
Businesses should concentrate on managing both the fleets as a whole and the drivers individually when optimizing delivery management.
Utilizing numerous fleets gives businesses more control over the delivery process, offers a fallback option for peak or spillover periods and seasons, and forges supply chain partners that can rely on one another for support.
3. Difficulty in retaining consumers
Many merchants find themselves driven by keeping expenses under control rather than trying to please customers at all costs now that growth has slowed and margins are thin.
Retailers today need to think carefully about how to deliver the greatest service while boosting operational efficiency. As a result, cost optimization has overtaken concerns of the customer experience and customer service when choosing delivery management platforms.
In order to meet their consumers' rising expectations, businesses must now provide a variety of delivery choices, such as next-day or even same-day delivery, in-store pickup, remote and curb-side collection, and free parcel shipping.
MBA in Supply Chain Management- roadway to a successful career
An MBA in Supply Chain Management adepts you with the fundamentals of supply chain management and gives you a solid foundation in business principles. The top supply chain MBA programs will show you how to evaluate a supply chain's effectiveness and efficiency, assess the impact of various operations on the chain as a whole and interpret relationships and competitive advantages using a systems perspective. You will learn how to evaluate the effectiveness and efficiency of supply networks from them as well.
So if you’re looking to have a thriving career in supply chain management, BIBS has the best course in SCM. It is one of the highest-ranked b-schools in Kolkata with a team of the best industry professionals.
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