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Smart Supply Chain Management

(Stanford University - Alvin Wei-Cheng Wong)

- Overview

A supply chain is a network that connects multiple functions, including logistics, production, purchasing, marketing, and sales. Comprehensive planning enables companies to balance trade-offs across functions and optimize earnings before interest, taxes, depreciation and amortization (EBITDA) across the organization. 

Smart supply chain management (SSCM) is a system that uses advanced technology and automated data analysis to improve the flow of goods and services from suppliers to consumers. 

SSCM uses technologies like: 

  • Big data
  • The Internet of things (IoT)
  • Blockchain
  • Artificial intelligence (AI)
  • Advanced robotics (AR)
  • RPA

SSCM can help supply chain companies: 

  • Cut costs
  • Shorten delivery times
  • Reduce negative environmental impact
  • Achieve unprecedented levels of automation
  • Identify trends and opportunities in the market

SSCM systems are self-organizing and self-optimizing. They can integrate data from connected sensors in the factory with data on user preferences, weather, and other variables. For example, a smart system can predict a bottleneck arising from an abnormal weather event.


[More to come ...]

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