Emerging Trends in Supply Chain Management in India
(E-BUSINESS AND THE SUPPLY CHAIN MANAGEMENT)
For The Fourth National Conference on
Innovative strategies: Emerging India in Global Scenario
Department of Management Sumandeep Vidyapeeth
Piparia. Vadodara. - 391760
Contact No. +91 99248 49142
With an increased competition in the marketplace, one can observe an increase in product offering in the market. This should lead to shorter product life cycles. It has therefore become essential for retail firms to better manage their supply chain process so that they can better control the supply and demand aspects of their product portfolio. It is, however, interesting to note that with the advancements in the Information Technology, the trends in determining demand and supply forecasts are changing. The web is having a significant impact on how firms interact with each other and their customers. Past stumbling blocks for supply chain integration such as high transaction costs between partners, poor information availability and the challenges of managing complex interfaces between functional organizations are all dissolving on the web. In order to bring future improvements to the supply chain management of an organization, it is essential to develop an information system of the highest quality, operated and maintained by well-qualified and trained professionals. In this paper, we examine how the web is changing supply chain management with reference to its past trends, present operations and future techniques. Developing a supply chain, which is responsive enough to the changing business environment, will benefit from the new developments in the market and will be able to effectively manage the inventory according to the demand and supply trends of the market.
Research method: Case Study Method
1.1 Purpose of the Study
Nothing has rocked the young field of supply chain management like the emergence of the Internet. While the management of information flow has always been a key aspect of supply chain management, the rapid growth of web-based information transfer between companies, their suppliers, and their customers has decidedly increased the importance of information management in creating effective supply chains. Indeed, the Internet has emerged as a most cost-effective means of driving supply chain integration. The purpose of the study is to analyze how e-Business has influenced the supply chain management with reference to its past trends, present operations and future techniques.
1.2 Importance of the Study
The rise of the Internet, and attendant information technologies and their application to business, has engendered a great deal of hype. Commentators have, among other things, heralded the arrival of a new economy and foretold the total transformation of the way people conduct business through online shipping. It has also completely altered in the methods used in the demand and supply chain process.
E-Business has focused on new information products and networks. E-Business has emphasized the cost saving significance of the Internet and the attendant technologies when doing business, this affects the costs of transactions, internal management, and marketing of products. Reactions to the opportunities and challenges of the Internet have embraced every detail of the business environment.
1.3 Rationale of Study
This paper will discuss about the changes that e-Business has brought into the supply chain management’s field concisely. This will cover the whole gamete of management and operation methods. This paper will not only focus on the recognition of the technological breakthroughs, but also the changes that have taken place with the industry after the introduction of e-Business concepts into supply chain management.