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Supply chain management also helps companies anticipate and mitigate risks (such as supply chain disruptions) and track compliance with regulations and standards. By helping products arrive on time and in good condition, supply chain management can improve customer satisfaction and loyalty.
Supply chain management involves coordinating and managing all the activities involved in sourcing, procurement, conversion and logistics. It includes everything from product development and strategic decision-making to information systems and new technologies.
According to a report by the Carbon Disclosure Project (CDP), companies' supply chains are responsible for up to 11.4 times their direct emissions—more than 90% of their total greenhouse gas emissions. 1 Sustainable supply chain management initiatives reduce the environmental impact of business operations by minimizing carbon emissions and waste.
Using artificial intelligence (AI) in supply chains can revolutionize the planning, production, management and optimization of supply chain activities. By processing vast amounts of data, predicting trends and performing complex tasks in real time, AI can improve supply chain decision-making and operational efficiency.
The better a company can perform supply chain analytics, the better it protects its business reputation and long-term sustainability. In The Thinking Supply Chain, IDC’s Simon Ellis identifies the five “Cs” of the effective supply chain analytics of the future: Key features of effective supply chain optimization include:
Implementing a supply chain risk management strategy is a way for companies to build the resilience to navigate uncertainty and ensure business continuity. With proactive preparedness, companies can avoid or minimize disruptions, reduce costs, improve quality and enhance customer satisfaction.
IBM supply chain management set out a bold vision to build its first cognitive supply chain. The aim was to have an agile supply chain that extensively uses data and AI to lower costs, exceed customer expectations, ruthlessly eliminate or automate non-value add work and exponentially improve the experience of supply chain colleagues.
Supply chain management (SCM) is a broader term that includes supply chain logistics as one of its elements. SCM involves overseeing the entire lifecycle of a product throughout the supply chain process, from the initial sourcing of materials to the final delivery of finished goods to consumers.
What is supply chain management? Supply chains generate big data. The better you understand that data, the better your supply chain will operate. Explore insights from IBM supply chain industry experts, the full range of IBM Sterling Supply Chain applications and more.
Unlocking the full potential of supply chain management has long been a goal for businesses that seek efficiency, resilience and sustainability. In the age of digital transformation, the integration of advanced technologies like generative artificial intelligence brings a new era of innovation and optimization.