Integrated Framework for Supply Chain Optimization: A Comprehensive Approach to Efficiency and Agility
Supply chain complexity is on the increase daily across the globe. In this respect, innovative solutions are needed to bring an increase in efficiency, agility, and competitiveness. This paper proposes an integrated framework for supply chain optimization through advanced analytics, automation, and integration of real-time data that facilitates quality decision-making and operational efficiency. The framework is conceptualized to manage central challenges of demand forecasting, inventory management, and logistics coordination while delivering a holistic solution that adapts dynamically to market conditions. Basically, the proposed system would use predictive analytics and machine learning to further optimize demand forecasting, thus reducing stock-out and overstock situations. Furthermore, integrating real-time data from different sources, including IoT devices and ERP systems, will provide constant monitoring that allows for fast responses to disruptions. The framework is also oriented toward collaboration throughout the supply chain, which would imply more transparency and better communication between suppliers, manufacturers, and distributors. Case studies across industries show that this framework aids in substantial reductions of lead time, generates cost savings, and has appreciable effects on customer satisfaction. The authors thereafter talk about the scalability of this framework and possibilities of further innovation in supply chain management. With this multidimensional approach, organizations can scale their supply chain operations to meet the evolving global competitive environment and henceforth attain the much-needed sustainable competitive advantage.
Authors
- K.S. RANA (ORCID: https://orcid.org/0000-0002-4981-4836)
- Anmol Bhardwaj (ORCID: https://orcid.org/0000-0002-5543-0126)
- Harsh Mishra
Institutions
- Chandigarh University (IN)
Publication Details
- Published
- 2024-11-22
- DOI
- https://doi.org/10.1109/icaccm61117.2024.11059013
- Citations
- 1
- Primary Topic
- Quality and Supply Management
- Type
- article
- Field-Weighted Citation Impact
- 0.53