Supply Chain Management – as the name explains itself, it is the flow of goods and services, right from the point of procurement to the point where it gets sold/served. There have been various things that involved Supply Chain Management so far, but a sneaking into the future shows a vast development in this sector, with manufacturing of goods and rendering of services will have a major role of play. eGrove Systems, being a developing company, has a way too big role of Supply Chain Management to play. Products offered include Elite Site Optimizer, Elite M-Commerce, Elite Salon App, etc., and the services after selling those products to the customers play a major role in their Supply Chain Management Front.
A sneak peek into the future shows a vast eCommerce development of Service Chains in comparison with the Product Chain. Products are very important, but at the same time, after the product is sold to a Customer, the pre- and post – sales Service is what helps the company in retaining the Customer. Whatever be the product, Customer retention is possible highly only by good Services.
Another future trend is that Supply Chains have to cater the base of the Pyramid as well. Professor C.K. Prahalad’s book “The Fortune at the Bottom of the Pyramid” points out the market potential of the five plus billion people around the world, whose income is less than $2000 a year. Better for companies is that the companies in the consumable and durable sectors, in particular, will need to create products and associated supply chains to support the products that will cater to this market segment.
Yet another forecast – Knowledge Work and Workers will become global in nature. Knowledge work in supply chains today accounts for approximately 40 percent of the total labour hours spent. Much of this work deals with complex analytics, planning, procurement processing, and provision of services. This nature of the work, the need for multi-language support, and the associated local complexities of the different geographies being served will necessitate the seamless globalization of supply chain knowledge work.
We have come across many certifications like the CPAs. Forecast is that, SCM will sooner become a Certification, and will be accredited by the Universities around the world for both Under and Post Graduations. However, in most cases these programs either focus on the basics of SCM or on a specific activity such as import/export or financial analysis. We believe that a fundamental shift will occur in the normalized delivery, content served, and certifications of supply chain professionals. Many other professions like accounting (Certified Public Accountant) and engineering (Professional Engineers) require national board examinations as well as continuing professional education (measured by a specified number of hours per year).
Product Clock Speeds will be the yardstick that will determine the Number and Nature of Supply Chains. This “fast clockspeed” lifecycle is becoming more the norm than the exception. The days of the steady and static product catalog is past; thinking otherwise, in fact, is a recipe for disaster. However, we continue to find companies using a single supply chain approach to service all segments irrespective of the time constraints.
Technology to support SCM will primarily be “on tap.” SaaS (Software as a Service) is gaining mainstream attention. We contend that most if not all supply chain technologies by 2020 will be delivered and consumed via this method—or “on tap.”
Leaders will leverage social media in a closed loop feedback process. Social media data is everywhere today. The winning companies will be able to receive, process and act on the data that is being provided to them by their constituents via social media.