Exam 15: Strategic Challenges and Change for Supply Chains

What special challenges and opportunities are presented for reverse flows by globalization?

How is the role of supply chain professionals evolving? What skills will managers need in the future to succeed in this profession?

An analysis of the benefits of a reverse or return flows program is dependent upon the development of the true costs associated with such a program and comparing them to a realistic measure of the benefits.

IBM Watson is a prescriptive analytics system that can help to understand data, learn from it, and reason through it.

A closed-loop system manages:

What is it called when consumers can place an order with Amazon for groceries?

Shippers see more strategic and IT-based processes such as supply chain planning and network modeling and optimization, as great areas of opportunity to leverage big data.

For an omni-channel retailer, the critical issue is not where inventory is positioned within the network but whether it is available to fill an order, regardless of its origin.

Why is sustainability such a complex and challenging issue for organizations? How can they simplify these challenges from a supply chain perspective?

The fourth principle of supply chain management is to differentiate products closer to the customer.

Companies have discovered that there is no revenue opportunities to offset the costs in sustainability practices.

Corporate executives are already well aware of the impact supply chain management can have on their businesses.

To what extent have the seven principles of supply chain management remained current? What are some of the major changes that have occurred since they were first developed?

Nike uses active sensors in high-value merchandise that send out telemetry data, tracking the package's traveling speed and conditions. Applying analytics to this data has the potential to largely reduce supply chain reaction times to avoid delays in shipments.

The seven principles of supply chain management have stood the test of time very well.