THE FUTURE OF SUPPLY CHAIN MANAGEMENT: ACHIEVING THE PERFECT BALANCE BETWEEN THEORY AND PRACTICE

Abstract

The supply chain field is a relatively new discipline that has seen its fair share of intellectual plurality. This plurality has served to enrich the field, but it has also made it difficult to define the core principles of supply chain management. This paper proposes a set of five core principles that are essential for any effective supply chain management system. These principles are: Customer focus: The supply chain should be focused on meeting the needs of the customer. Collaboration: The supply chain should be collaborative, with all participants working together to achieve common goals. Visibility: The supply chain should have visibility into all aspects of the process, from raw materials to finished goods. Flexibility: The supply chain should be flexible enough to adapt to changes in demand or supply. Technology: Technology can be used to improve the efficiency and effectiveness of the supply chain. These five principles provide a foundation for developing and implementing an effective supply chain management system