Supply Chain–Significance and Future Trends

Abstract

Supply chain is competitive tool for all organizations in present time. Much importance was not given
earlier, but now focus has been shifted and supply chain management has got its due importance.
Paradigm has been changed. Product development has become very important. Supply the product to
consumers is also important as consumer is now more demanding. Supply chain dynamics is going to
be changed as we are approaching towards a new world order. Supply chain is very important for all
organizations and it could give competitive advantage in this dynamic situation. Technologies are
being used to make supply chain process better, smoother and more competitive. Analytics and data
science is going to change the total dynamics of the supply chain industry. Supply chain management
started to gain attention in 1980’s decade and it got its due attention in later part of 90’ decade.
Supply chain is a critical factor to determine the success of any organization and all organizations
understood this. Now we are using sophisticated predictive models in supply chain process.