Every company, irrespective of the industry, has historically aspired to bring, at a profit, its value added products and services to its customers, where and when they need it. Supply chain has been at the core of delivering these values; however, recent developments in technology have given the customers global options to source, and shorter timeframes to fulfil their needs. As a result, companies have been under ever increasing challenges not only from the demands from their customers but also from competitors who constantly strive to redefine the optimal operating models. This has resulted in companies turning towards various solutions to resolve these hurdles and maintain or even increase their margins.
The ultimate goal in supply chain management is to create value for the end customers as well as the firms in the supply chain network. To accomplish this, firms in the supply chain network must integrate process activities internally and with other firms in the network. However, this can often be an extremely difficult task, because vitally, it requires willing and competent trading partners.
This article aims to outline the supply chain challenges and one of the approaches that could effectively address them….
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