Operations Archives - Welingkar Bangalore

There is a fundamental change in how we manage, transact, and optimize resources worldwide. Managing the supply chain is a back-room kind of activity that has become a strategic interest for organizations operating in the uncertain, digital transformation, and globalization environment. Whether it be the effects of global pandemics or changing customer demands, our supply chains have been challenged, and the lessons are obvious.

In order to be competitive and resilient, we should embrace more intelligent technologies, develop sustainable processes, and train employees who can work with the complicated global networks. Whether you are a student of management or a working professional looking forward to career growth, it is more important to know where the supply chain is leading. Join us as we examine the future and how we are able to prepare ourselves for the same.

Why the Supply Chain Needs to Evolve

Supply chains are no longer merely a transaction between point A and point B, as was seen in a world defined by digital acceleration, global disruption, and consumer growth expectations. They are today a key support system for any business activity.

The days when the supply chain used to comprise logistics and inventory are long gone. The modern market requires real-time responsiveness, decision-making founded on data, and the ability to weather any eventuality. In a bid to overcome these challenges, firms are reconsidering their supply chain designs by incorporating technology, sustainability, and smarter human resources.

Tech Trends Shaping the Future of Supply Chain

1. Artificial Intelligence and Machine Learning

Supply chain planning and operations are fast changing with the use of AI and ML. Through big data analysis, including past and real-time data, AI enables businesses to make forecasts, plan their routes, minimize the cost of inventory, and identify anomalies.

Just think of a system that, in addition to what will sell, dynamically balances any supply chain activities. This change of action from a reactive to a proactive one is changing the way companies manage business risks and respond to market changes.

AI-oriented modules in operations and supply chain programs are being included in the curriculum in many institutes, including the Welingkar Institute of Management Development and Research, so that the students are prepared to work in an AI-assisted world.

2. Blockchain for Transparency

The multi-stakeholder supply chain is crucial to trust and traceability. Blockchain technology will make certain that all transactions, including raw material acquisition and final delivery, are recorded safely and cannot be altered.

This is necessary in such industries as pharmaceuticals and food, where authenticity and compliance are not negotiable. Blockchain makes auditing easy, minimizes fraud, and makes accountability upstream and downstream.

3. Internet of Things (IoT) and Smart Sensors

The modern supply chain has its eyes and ears in IoT-enabled devices. Smart sensors allow for monitoring the conditions of the shipments (temperature, humidity, location), controlling the equipment of the warehouse, and even making premonitions of the malfunction of machinery before it becomes a reality.

The result? Less downtime, increased safety and traceability of products, and real-time visibility throughout all parts of the logistics network.

4. Robotics and Warehouse Automation

Warehouse automation is using AGVs, robot arms, and autonomous drones and transforming warehouse functions. The technologies enhance faster speed and reduce human error, and introduce consistency in repeatable activities such as picking, packing, and shipping.

Even companies that are interested in scaling internationally can take advantage of robotics so that they can fulfill an increased number of orders without sacrificing efficiency.

5. Cloud-Based SCM Platforms

Cloud-based systems are data-centered, collaboration-enhanced, and allow making real-time decisions in worldwide supply chains. Be it onboarding of suppliers, logistics planning, or management of inventories, SCM cloud tools place agility and accessibility at the center stage.

More importantly, they enable entities to operate smoothly in cross-functional and cross-geographical ways, particularly in the post-pandemic distant vicinity.

Sustainability and Resilience

Modern supply chains will accomplish more using fewer resources, that is, fewer waste passages, fewer emissions, and less disturbance. Whether it is the packaging of green packages or through circular models of logistics, businesses have been asked to clean up their act when it comes to the environment.

The sphere of sustainability also overlaps with that of resilience. The presence of supply chains that were localized, diversified, and technologically networked managed to cope with pandemics, geopolitical crises, or natural disasters.

Sustainability is not just a buzzword, but a significant topic in the entire field of management education at Welingkar Bangalore. The institution is committed to enabling students to balance the performance of businesses with environment-friendly operations, reflecting the growing importance of sustainability in the modern supply chain career.

Skills Required in the Modern Supply Chain Career

With the evolving supply chain, the professionals running it need to evolve as well. Some of the most sought-after capabilities are as follows:

Analytical thinking

Data is the new oil, and analytical thinking is the engine that converts it into actionable insights. Professionals have to read KPIs, use simulation, and make well-informed decisions in logistics, procurement, and operations.

Cross-functional collaboration

Supply chains have an impact on almost every activity, like marketing, sales, IT, and finance. Collaboration and cross-department work are important so that value flows may be in a seamless process.

Tech fluency

Tech fluency is a must in the modern supply chain career. With AI dashboards, blockchain ledgers, and IoT sensors becoming a daily part of professional and business life, individuals need to know how they operate and how to take advantage of them. To develop such fluency, programs that provide exposure to tech-driven education like that in Welingkar Institute of Management Development and Research are the best.

Communication & negotiation

There is also a need for crisp communication, strategic negotiation, and cross-time-zone management of vendors, stakeholders, and teams. It is not only the cost; it is value creation, budget, and common objectives.

Understanding global trade policies

Understanding global trade policies is crucial in the modern supply chain career. These policies, including trade regulations, tariffs, and compliance requirements, define supply chain functionality across the world. A proper understanding of such factors not only facilitates easy international operations but also provides legal protection.

Career Opportunities and Industry Demand

No wonder, with the wave of digital transformation hitting industries, the demand for supply chain professionals has never been higher. Such roles include:

Supply Chain Analyst
Logistics Manager
Procurement Officer
Inventory Planner
Operation Strategy Consultant

We are also witnessing tremendous scale in industries such as e-commerce, FMCG, manufacturing, healthcare, and retail to the extent of 25-30 percent.

How to Prepare for the Future: Get the Right Education

We know now that supply chain executives in the future will have to be dynamic thinkers, technologist planners, and cross-functional team members. The greatest measure of developing such competencies is to have a comprehensive or industry-related education.

The Welingkar Institute of Management Development and Research is a management institute that takes a balance of theory and practice with a special focus on the development of operations and supply chain management.

Companies will train future talent with case studies, business simulations, live projects, and technology-enabled learning to succeed in the digital-first supply chain environment of tomorrow. A recent graduate or a working professional wishing to shift gears and take up operations as a career, WeSchool provides you the means to achieve success.

Conclusion

The future of supply chain management is not digital at all; it is dynamic, data-driven, and extremely strategic. With AI, IoT, and the sustainability revolution changing the backdrop, professionals have to step up to counter the intricacy with dexterity, speed, and intuition.

Informed citizens with good education are the future of the world regarding the supply chains that this planet demands.

Ready to lead the digital transformation in the supply chain? Explore future-focused management programs at Welingkar Institute of Management Development and Research.

FAQs

What is the future scope of careers in supply chain management?

Careers in supply chains are changing fast, and professionals are needed who are competent in new technologies, analytics, and sustainability. It covers industries in e-commerce, healthcare, manufacturing, and world logistics.

Does Welingkar offer supply chain or operations-focused programs?

Yes, Welingkar Institute of Management Development and Research offers a comprehensive management program with operations, logistics, and supply chain strategy, combined with current technologies, integrating into real-life projects.

Future of Manufacturing: it is only partly digital

Much has been written about industry 4.0 which is expected to integrate the internet, sensors and various connected technologies into mainstream manufacturing. In practice we do see it, for instance in the branding of a car such as MG Hector in India, which proudly says on the rear panel, “Internet Inside”. General Electric did implement Industry 4.0 in its finest form when it rolled out Predix – which was spoken about and executed as the Industrial Internet. GE was able to remotely diagnose and predict possible problems that could arise in its turbines, jet engines and medical equipment. These machines were deployed at various locations across the globe. For GE, it translated into revenue of about $1 billion ten years back. However, within a span of three to four years, the project lost steam and now this digital division of GE is up for sale, going by business press reports this year. Reasons have to do mainly with the fact that GE’s digital business was operated more as a product and not as a service; it was not open to easy access by developers. The platform was not conducive for enterprise customers to operate as a service. They lost out to the might and muscle of cloud providers such as Amazon, Microsoft and Google.

Consider this scenario: at a Dutch firm, ASML Holdings based out of Veldhoven, under development are some of the largest and most advanced lithography machines such as the EUV lithography systems (https://www.asml.com/en/products?icmp=navigation-homepage-link-products) that are capable of making the finest lines on microchips; customers are Samsung, Taiwan Semiconductor Manufacturing Company and others. The machine is one of its kind and sells for as much as $340 million, more expensive than Boeing’s Dreamliner. What lies inside? A complex set of technologies comprising hydraulics, pneumatics and various cooling systems that could challenge the understanding of some of the best brains in the business. Applications are not merely confined to smartphones and laptops but could also be relevant to advanced defense systems. This machine has caused intense political lobbying that aims to ensure that the technological expertise is not transferred to the Chinese. American and European governments are in the fray, anxiously pushing their agenda through diplomatic channels. Quite a peculiar scenario, considering that one machine and the technological expertise that it portrays could cause superpowers sleepless nights, just to prevent it from falling into the wrong hands.

Gently move your cognitive frame to the academic environment in engineering institutes. Most mechanical engineers are aware of complex theories which have their applications – one example is Coriolis acceleration which has to do with a component of acceleration when sliders move within another component which has a rotary movement. Or elaborate equations in fluid mechanics which are derived by professors on the whiteboards in engineering classrooms. Working with valves, hydraulics and pneumatics are the intended learning outcomes. When we relate such teaching to real-world applications as seen in the case of technologies developed by ASML, there are no doubts that core engineering and manufacturing practice are closely intertwined. Add on layers from electronics and communication technologies and we have clarity on how modern manufacturing can be visualized. It is not driven purely by Henry Ford’s successes in assembly line manufacturing; we can now visualize the layer from information communication technologies that sit atop the recent passenger cars – the heart being the silicon chip which is where contributions from firms such as ASML have played a major role.

It is not just about large organizations alone. Consider a firm such as Rational which is the world leader in cooking technology for industrial kitchens. Gunther Blaschke, the CEO of this firm relies more on continuous innovations and being at the forefront of technology for sustained dominance – this firm has a global market share of 52%. Another firm Omicron which is the world market leader in tunnel grid microscopes relies on innovation and development. Evidence can be observed thus: it has 40% of the workforce engaged directly or indirectly in research and development. A firm such as Festo, which is the global leader in pneumatics makes actuators, motors, servo drives and industrial robots. The firm uses collaborative robots, also known as ‘cobots’ in its precision manufacturing. To stay ahead of rivals, this firm identifies a pipeline of products and usually has about 100 products ready for patenting. The firms mentioned – Rational, Omicron and Festo were featured in “The hidden champions of the twenty first century”, an edited book. The core message is that manufacturing expertise has deep foundations that have helped build the core, whilst leveraging technology as well as focusing on innovation.

‘Core’ remains a keyword, especially in light of C K Prahalad and Gary Hamel’s seminal article, ‘The Core Competence of the Corporation’ featured in Harvard Business Review, 1990. A powerful message delivered by the authors was the identification of core competencies – for instance, they argued that Canon had developed competence in three areas, viz. fine optics, microelectronics and precision mechanics. Leveraging these, the company was able to make components or products that straddled a wide range of applications. Think of lenses, cameras, and photocopiers; we can visualize the wide range of consumer and industrial applications. Similarly, 3M with its core competence in substrates, coatings and adhesives has managed to retain its dominance in a wide range of consumer and industrial products. Prahalad and Hamel also reiterate that the added thrust of innovation and relentless pursuit of market share was instrumental in the success of these two firms.

Therefore, some compelling takeaways can be noted. These could be applicable to young managers who envisage careers in supply chain and operations. Firstly, digital technologies would continue to be powerful enablers and have their applicability across industries. Manufacturing is one area where their presence would be felt; such technologies would be present, cause greater functionality, yet remain as complements. Secondly, manufacturing would continue to leverage fundamentals and build on them with greater emphasis on continuous innovations. Process innovations are more likely, while product innovations may be lesser. Thirdly, the rise of robotics, robots and ‘cobots’ merely point out that the dependence of manufacturing on automation would remain partial and not full. For aspiring managers, the message is that they would need to develop a broad spectrum of competencies while retaining their interest and passion in an identified niche within manufacturing.

Prof. John Ben Prince

Associate Professor – Operations

Category: Operations

The Future of Supply Chain Management