In: Operations Management
Discuss rapidly changing business models and impacts on inventory control/management systems.
Globalization, digitalization, industrialization are increased
at its optimum level, and in this present business operation
virtual organizations and E-commerce drastically increasing and
people are often preferring to purchase with the help of electronic
devices.
Now COVID-19 pandemic created a situation in the world that
businesses moving towards the digital world and achieving new
heights of digitalization. Supply chain management and changing
business models working hand to hand and change in business model
badly affecting to supply chain management. E-learning, E-commerce,
digital payment, etc dramatically adapted by peoples.
Inventory management is facing big challenges becasue of changing
the business model and designing an effective and efficient supply
chain management is the demand of this time that more and more
technology-oriented. Logistic companies need to cut their
transportation cost becasue of increasing numbers of supply
turnover and work on cost-effective service which suitable for
customers.