Question

Having trouble finding a good technique from Operations and Supply Chain Management 14e to write about.

This assignment is designed to provide you and the other students with a better appreciation for the “real world” use of the techniques we are studying this term.

You will be expected to research and find an article that provides a “real world” application of one of the techniques that we are studying. A list of references can be found in the various bibliographies at the end of each chapter.   Journals would be a good source for an article. Some journals are Supply Chain Management Review, Production and Inventory Management, Journal of Operations Management, Informs, Interfaces, and Business Forecasting.

Answer 1

BLOCKCHAIN TECHNOLOGY CAN HELP IN REAL-WORLD SUPPLY CHAIN MANAGEMENT

Virtual monetary forms like Bitcoin are just the most punctual use instances of blockchain technology. Blockchain technology will before long discover application in certifiable supply chain management. Sea cargo represents approximately 90 percent of merchandise exchanged all around. Shockingly, sea transportation is as of now exceptionally reliant on the administrative work that has not been safely digitized. Delivery data, as a rule, goes through various organizations and temporary workers, any of which can cause a deferral. A late endorsement or lost structure can leave products stuck at a checkpoint or port.

A supply chain blockchain could support straightforwardness, trust, and consistency by permitting clients to follow where a shipment is at some random time. Since a blockchain is an unchanging record, changes under lock and key and responsibility for as they move from their maker to their place of retail could be gone into the record quickly and for all time. Since a blockchain is decentralized, it has no single purpose of disappointment. Along these lines, delivery, ownership and possession data could be better shielded from altering or hacks.

Supply chain experts can utilize blockchain technology to assemble and utilize the following information in powerful new manners. For instance, sections in a blockchain database could trigger different errands, for example, the task of the following cluster of merchandise showing up at a port to a specific dock or substance region.

Applying blockchain technology to the moment settlement of exchanges could likewise decrease contact in business financing, which underlies worldwide exchange and is presently a territory from which many exchange questions emerge. Furthermore, debate goals rules could be settled upon heretofore and applied quickly on the blockchain when essential.

Savvy Contracts

Savvy contracts are self-executing contracts that can be activated by an outside true occasion, the subtleties of which are given by a confided in the prophet. When an exchange is logged, brilliant contracts can immediately discharge installments held bonded to a counterparty. Shrewd contracts timestamped passages on to the blockchain, and computerized installments could enormously decrease the time and expenses related to go-between preparing.

Keen contracts can at present be constructed or sent on certain blockchains, for example, Ethereum.

Current blockchain answers for supply chain management

Factom, IBM and Skuchain are early movers in the use of blockchain technology to supply chain management. Factom's restrictive documentation confirmation and verification framework can be utilized for coordinations related documentation. IBM is banding together with Maersk to make a blockchain-based transportation supply chain firm. Skuchain assists purchasers with controlling their stock obtainment across accomplices.

There are additionally a few other outstanding endeavors to apply blockchain technology to coordinations. Hyperledger has utilized its Sawtooth circulated record technology to bring add detectability to supply chains in the fish business. Everledger's blockchains follow the supply chains of precious stones and other morally sourced marriage gems. (Everledger has additionally propelled a bespoke blockchain for shaded gemstones.) UPS and FedEx are secretly trying blockchain-based coordinations.

Helping Sellers, Intermediaries, and Consumers

The use of blockchain technology to supply chain management could diminish blunders, deferrals, and extortion, improve stock management, and recognize and resolve gives quicker. This will support vendors, middle people, and customers.

Dealers will have the option to all the more likely track expenses and limit, better gauge conveyance times for different courses, and settle on progressively savvy choices. Transport suppliers will have the option to post insights concerning accessible limits and courses and decrease transport time and expenses. Buyers will know where their items originate from and will profit by decreased expenses and transportation times.

Shaan Ray is the head of Denver Hill, a gathering that utilizations rising advances like blockchain, man-made consciousness, added substance fabricating, and the mechanical web to make new items and procedures.