Purpose – As traditional supply chains are increasingly becoming intelligent with more objects embedded with sensors and better communication, intelligent decision making and automation capabilities, the new smart supply chain presents unprecedented opportunities for achieving cost reduction and enhancing efficie...
Efficient supply chain planning achieves three goals: lowering production costs, increasing sales and bolstering supplier relationships. In the 70s and 80s, companies like Walmart and Dell crushed their competition by gaining a competitive edge in supply chain and logistics. Behemoths likeP&G leverage ...
Purpose Smart contracts are self-executing computer programmes that have the potential to be used in several applications instead of traditional written contracts. With the recent rise of smart systems (e.g. Internet of things) and digital platforms (e.g. blockchain), smart contracts are gaining...
We won’t describe all the possible problems and solutions for optimization in supply chain management. But we will empower you with a universal framework for finding your problems and deciding on an approach to solving them. An issue might lie deep in your processes. To dig it up, you’ll...
Organizations must integrate these elements across the many nodes of a global supply chain. They must also consistently monitor these systems and tune their performance, as well as identify and fix glitches. Examples of AI in Supply Chain Let’s consider a hypothetical American automobile ...
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Therefore, blockchain is a complementary innovation since it supports existing innovations to reach goals never achieved before. Sakoshi Nakamoto was the initiators of blockchain technology, which was created to support bitcoin transactions and consisted of a distributed Model In this paper, we seek ...
The automated aspect of smart contracts can cause additional problems. Issues that used to be easily remedied between trusted partners become more difficult to resolve if smart contract transactions are recorded on a blockchain, Zottola says. “It’s almost as if you’d need to have a cl...
Today’s supply chain is becoming complex and fragile. Hence, supply chain managers need to create and unlock the value of the smart supply chain. A s
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