Question

The emerging trends in Procurement and Supply chain continued to create both positive and negative effects on global supply systems. Identify any five (5) emerging trends currently impacting on global procurement and supply chain system

Answer 1

As you read this, there is a plethora of disruption going on in supply chain management. Let's see some of the trends

1. Enhanced visibility of the supply chain. For instance, RFID technology is used to tag the goods to know the real time location of the same. Thus contributing for a more visible supply chain.
2. Advent of emerging technologies. Use of drones, robotics and automation are a few instances through which the supply chain is increasingly tech oriented.
3. Emerging of sharing economies. Evolving manufacturers are benefited of shared supply chain which will get their logistical part done at reduced costs.
4. The evolution of consumer channels. It's 2020, and brands have began selling things directly to the consumers rather than through a retailer/dealer.
5. Sustainability in supply chains have surged. A simple change of cardboard packaging instead of using plastics has resulted in a considerable profit for the firms thus showing us how firms are moving increasingly towards a sustainable supply chain.

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