The Future of Supply Chain Management: Trends and Challenges

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@article{1706339,
      author = {Kofoworola Abisoye Lawal},
      title = {The Future of Supply Chain Management: Trends and Challenges},
      journal = {Iconic Research And Engineering Journals},
      year = {2024},
      volume = {8},
      number = {3},
      pages = {488-498},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1706339.pdf},
      abstract = {This paper examines the evolving context of supply chain management (SCM) in the United States, focusing on the emerging trends of nearshoring, reshoring, and omnichannel supply chains. As global dynamics shift due to economic, geopolitical, and technological influences, these strategies have become necessary for enhancing the resilience and competitiveness of U.S. supply chains. The paper comprehensively analyzes the factors behind these trends, including active examples of successful implementations. It also addresses the challenges associated with these strategies, such as economic and logistical hurdles, increased supply chain complexity, and reliance on technology. Despite these challenges, the paper shows important opportunities, including improved agility, enhanced customer satisfaction, and greater supply chain resilience. The implications of these trends for the U.S. economy, national security, and overall supply chain resilience are thoroughly examined. The paper concludes with policy recommendations aimed at supporting the adoption of these strategies with emphasis on the need for continued innovation and adaptability in the face of a fast-changing global environment.},
      keywords = {Supply Chain Management, Nearshoring, Reshoring, Omni channel Supply Chains, U.S. Supply Chains, Supply Chain Resilience, Global Economy, Innovation in SCM, Policy Recommendations.},
      month = {September},
  }