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Trends in Supply Chain Management - Essay Example

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Considering the changing trend in customer requirements for a faster delivery system, shorter lead times, secure channels, affordable service, and properly incentivized product packages,…
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Trends in Supply Chain Management
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Top Three Trends in Logistics Industry Affiliation: Expectations There are several expectations that affect the marketability of logistics services. Considering the changing trend in customer requirements for a faster delivery system, shorter lead times, secure channels, affordable service, and properly incentivized product packages, it is observed that the industry must implement counter measures to serve these needs (Simon, Serio, Pires, & Martins, 2014). While the customer expectations aim at managing time properly and promoting a swift-paced supply chain system, the goal of cost management is normally an underlying factor (Lambert, Garcia-Dastugue, & Croxon, 2008). Thus, with reference to the current technological innovation, customers expect an efficient system that is both cost effective and reliable for commercial and private use.
Globalization
Operations within an individual market clog the morale of conducting business and restrict diversity therefore leading to reactive industries. With reference to international trade, various investors and product developers are able to develop and create products resembling the demands of the global customers (Green, Whitten, Inman, 2008). In addition, the use of specific strategies in some regions to manage costs, has transpired the trading of best practices leading, in some cases, to unified code of conduct within the logistics industry (Handfield, Straube, Pfohl, and Wieland, 2013). With reference to customer satisfaction, globalization creates interaction between various business blocs thus influencing the development, marketing, distribution, and sale of alternative products.
Market Volatility
The logistics industry comprises of a network of companies operating in both local and international sectors. These networks help to sustain the industry through the handling of segmented logistics’ service-tasks (Hanningan, & Mangan, 2001). The collapse of one segment in the network has the potential of interfering with global logistics operations. Following the trend of industries experiencing economic-crisis aftershock effects, research suggests that business blocs should loosen ties with volatile markets and implement strategies sustainable within a narrowed logistics’ environment (Florin, n.d).
References
Florin, I. (n.d.). Future Trends in Supply Chain Evolution and Influences on the Transports. Constanta Maritime University Annals. Retrieved February 14, from ABI/INFORM complete.
Green, K., Whitten, D., Inman, A. (2008). The Impact of Logistics Performance on Organization Performance in a Supply Chain Context. Supply Chain Management: An International Journal, Vol 13, No. 4: pp. 317-327. Retrieved February 14, from Academic search complete.
Handfield, R., Straube, F., Pfohl, H., Wieland, A. (2013). Trends and Strategies in logistics and Supply Chain Management. BVL International. Retrieved February 14, from Academic search complete.
Hanningan, K., & Mangan, J. (2001). The Role of Logistics and Supply Chain Management in Determining the Competitiveness of a Peripheral Economy. Irish Marketing Review, Vol. 14, No. 1: p. 35. Retrieved February 15, from ABI/INFORM complete.
Lambert, D., Garcia-Dastugue, S., & Croxon, K. (2008). The Role of Logistics Managers in the cross-functional implementation of supply chain Management. Journal of Business Logistics, Vol. 29, No. 1. Retrieved February 15, from EBSCOhost
Simon, A., Serio, L., Pires, S., & Martins, G. (2014). Evaluating Supply Chain Management: a Methodology Based On a Theoretical Model. RAC, Vol. 19, No. 1(2): pp. 26-44. Retrieved February 16, from EBSCOhost. Read More
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