FREMONT, CA: The supply chain is rightly referred to as the backbone of businesses. From a socio-political perspective as well, supply chain possesses the capability to unite all functions that prepare businesses for a bigger and better picture. However, the technological advancements in this segment are almost negligible; therefore, most people consider this as a sector that does not encourage innovation.
Surprisingly, this disparaging attitude of entrepreneurs toward this particular business function finds its source right in its terminology. Most business personnel opine that the term ‘supply chain’ itself is unappealing, which leads them to overlook the areas of its improvement. According to some experts, the term ‘operations’ is a more appropriate take—employees tend to attach themselves with a department which has an appealing name; this also directly leads to a boost in productivity.
In order to drive steady improvement in productivity in the supply chain sector, experts have taken an important initiative to make both the consumers and the providers aware of the importance of the supply chain business. They have decided to do so with the aid of demonstrations that explain the mechanism behind the entire supply chain procedure, along with the methods that infuse innovation in order to deliver profits and help increase customer satisfaction. Industry big shots such as Walmart, Amazon, and Apple, along with supply chain stalwarts such as Schneider Electric, Nike, and Unilever have rendered generous support to this movement. It is also to be noted that most of the celebrated Presidents or CEOs have significantly evolved in their roles in the supply chain management.
This spectacular rebranding procedure has undoubtedly attracted the young generation more as compared to the old. The young consumers are more informed about the nitty-gritty of the supply chain, resulting in nurturing a more favorable reaction toward the sector.
This is not all. Universities have come forward to implement programs related to production operations, purchasing, decision sciences, and logistics into one broader supply chain department, offering Masters Degrees in the stream. The University of Tennessee has been reported to be the newest adopter of this academic venture.
However, the supply chain still finds it difficult to make itself known in terms of semantics. New terminology for the sector, such as ‘demand chain,’ ‘value chain’ or ‘supply network operations’ are often leading to confusion among the business enthusiasts who generally focus on strategized functionalities along with sustainable objectives and metrics.