Trends to highlight inventory management, artificial intelligence,and procurement.
Step 1: Consider the Purpose of the Research
This project requires that you review your previous work and construct a basic research plan. your work will be expected to meet a higher level of cognitive objective, using analysis, synthesis, and supporting conclusions with facts. There are several elements in the project that your department head will want to see to ensure that your work is on the right track. For one, he may want to see your research question to ensure that you are looking for the right information. If you can develop a specific and focused research question, you will have a good start. Next, you will look to see what information is already out there, and if your question has already been answered. Using a scientific approach, you will create a working hypothesis that will present your findings and conclusions. Remember that your ultimate objective is to arrive at a reasonable, well-supported analysis of the impact of the issue on your industry. This can be the first step that leads to practical solutions for your organization?s issues
Step 2: Prepare to Research
While there are many times that you should research using a traditional library and peer-reviewed journals, there will be many questions that are answerable by targeted internet searches. These are valid skills for you to develop and they will serve you well in your professional life. So, get acquainted with the Google Search TOOLS so that you have them at your fingertips.
Step 3: Choose an Issue
In the last step, you prepared for your research. Now it is time to focus on an issue. Choose an issue from your research on a trend in your industry that has potential for great impact on the field, and then draft a preliminary question. Next, do some preliminary reading to see if the question has already been answered, or if there is enough information on the topic. Refine your question and submit it to the ?so what? test. Will your answer contribute to knowledge about the issue you have selected? Is the question answerable? Remember that in academic work you do not normally write normative or open-ended questions, which start with the words should or would.
Step 4: Craft a Hypothesis
You have selected an issue to research. Now it is time to craft a working hypothesis
Step 5: Conduct the Research
In the last step, you created a hypothesis. In this step, you will begin your research.
Once you have a research question and working hypothesis, you will conduct research to find evidence (facts) that support or refute your hypothesis. You will then analyze the information to produce findings and conclusions. I highly recommend that you read Randolph Pherson’s “The Five Habits of the Master Thinker,” a paper written for intelligence analysts, but applicable to all analytical thinking and reasoning. Your ultimate objective is to produce a well-reasoned, fact-based analysis of your issue, and proposals to mitigate negative conditions or improve the outlook for the industry.
You may start with the sources that you found in your TOP trends assignment and dig deeper to learn more about the issue under examination. Choose your sources wisely to find credible sources (if appropriate for the issue). If your issue is covered in contemporary online news sources, please use them. For more information, review resources on Conducting Research from Project 2
Step 6: Write Your Paper
Now that your research is complete, you can begin to draft your 1,250- to 1,500-word paper, ensuring it is as error-free as possible. Include a cover sheet, introduction, findings, conclusions with recommendations, and references.
Suggested Resources:
Kinds of Assignments You Will Write
References and Citations
Annotated Bibliography on Supply Chain Management Trends
By
Valincia May
October 17, 2016
University of Maryland University College
The future of logistics and supply chain management (SCM) is always growing and transforming. One of the most evolving areas within this industry is; information technology, and how it is instrumental to the global relation by manufacturing, inventory management, procurement, and sourcing. The digital world and how it relates to SCM are among TOP trends with artificial intelligence, leading area such as sourcing, procuring is the major undertaking in the future of logistic and supply management.
Junwei, Y., Sijin, X., Quan, L., Wenjun, X., Liwen, Y., Li, F., & … QiangWang. (2014). Intelligent Supply CHAINIntegration and Management Based on Cloud of Things. International Journal Of Distributed Sensor Networks, 1-15. doi:10.1155/2014/624839
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This article is about the cloud of thing (COT). This integrated management base system is designed to communicate, and share information across all area of supply chain management (SCM). The major component to COT success is the way in which it collaborates and shares information and supply agility. This system was designed to improve the ordering and inventory systems within SCM, one of the major highlights of this new trends is the influence it will have on the flow of information and the way it will enable the different areas of the supply chain to collaborate.
The article examines the increase in technology system and application, and highlight why continued development and probing is essential to artificial intelligence in SCM.
While the key areas of supply management continue to grow and improve, this technology could pose a problem for individuals that are not very computer savvy or open to changing current techniques. The industry continues to promote and implement change that will further aid with transforming agility and communication with other IMPORTANT sources throughout the SCM industry which will assist with modernizing the globalization of the economy.
Rai, A., Patnayakuni, R., & Seth, N. (2006). FIRM PERFORMANCE IMPACTS OF DIGITALLY ENABLED SUPPLY CHAIN INTEGRATION CAPABILITIES. MIS Quarterly, 30(2), 225-246.
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This article sheds light on the significance of the computerized stage in supply management; the report emphasizes the critical need for a digital technology presence in the wake of the digital age as the industry moves forward in a more Information Technology (IT enable) economy. The article examined over 100 supply chain and logistic managers in the manufacture and retail organization. Based on the vast amount of data collected, the report theorized that a more robust IT system would correct the supply chain infrastructure information flow.
This integrated system would enable all areas of the supply chain industry to share information between multiple platforms; from manufacturing to the physical products. This will, in turn, improve information flow between supply chain partners effectively increasing productivity and performance output. One of the shortcomings of this technology is a breakdown in the operating system that will prevent information from flowing to essential departments for processing.
ARNTZEN, BC; et al. Global Supply Chain Management at Digital Equipment Corporation. Interfaces. 25, 1, 69-93, Jan. 1995. ISSN: 00922102.
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Digital Equipment Corporation is one of the major integrated computer company in the world. This article focused on how they developed a Global Supply Chain Management (GSCM)system, based on an evaluation of the supply chain industry and its activity on a global level and developed strategy which was implemented within the GSCM system to improve manufacture and distribution across the world. Digital equipment highlighted how they had reduced their footprint from having over 33 plants to 12 plants in 7 countries since implementing their (GSCM) system enabling them to create a simplified supply chain integrated network.
Concerning sourcing and procuring trends within the industry, GSCM would allow the organization to source products on a larger scale, at significantly faster paste on a global level. Which will improve procurement capability. Operating on a global level can present difficulties due to production locations and raw materials sourcing.
Al-Mutawah, K., Lee, V., & Yen, C. (2009). A new multi-agent system framework for tacit knowledge management in manufacturing supply chains. Journal Of Intelligent Manufacturing, 20(5), 593-610. doi:10.1007/s10845-008-0142-0
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This report suggested that a multi-agent based Manufacture Supply Chain platform with a library of collective knowledge, or ?tacit knowledge;? be used as a basis for creating an autonomous self-learning network. This system can provide real-time information to all parties contributing to manufacturing, by the use of collective knowledge being shared across the network or system can prevent vendor specific pitfalls and increase productivity. This system can be tailored to fit companies based on each?s respective desires.
This system of a self-learning network will reduce training time and improve productivity. Utilizing the collective library to understand supply tacit all while sending and receiving real-time information including vendor and supplier knowledge will increase productivity and working hours. Using an autonomous system can present problems with the startup process based on the area of supply management that utilize this system.
Windelberg, M. (2016). Objectives for managing cyber supply chain risk. International Journal On Critical Infrastructure Protection,124-11. doi:10.1016/j.ijcip.2015.11.003
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Cyberspace has changed the way in which major industry and organizations operate. This report underlines what happens when there is a breakdown between suppliers and manufactures of cyber-based products and services which can present functioning risks to end user organizations and potentially to society if security, reliability, and safety are undermined, especially in critical infrastructure sectors. The report also made a recommendations on how to combat cyber supply chain security issues and trade-off. Cyber security is rapidly taking over every area of our economic system, by understanding how to implement it into our industry and creating products around its infrastructure will assist with making the transition seamless. However, due to the constant security threats around the world the system would need continuous updating to maintain security.
Sustrov?, T. (2016). A Suitable Artificial Intelligence Model for Inventory Level Optimization. Trends: Economics & Management / Trendy: Ekonomiky A Managementu, 10(25), 48-55. doi:10.13164/trends.2016.25.48
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This summary sought to analyze useful techniques for artificial neural networks and its role in a business?s supply CHAIN management. Using artificial neural networks model as an option to improve a business ordering system proved that optimization occurred when an ANN model was used to improve inventory levels which in turn enhance the management of that inventory. By optimizing these areas made it possible to determine future demand which keeps profit loss down due to excess ordering.
This artificial intelligent system will control the inventory quantity, by keeping track of an organization inventory count, and ordering calendar. Essentially improving the inventory visibility and provide accurate information for ordering purposes. Reliance on an artificial system to keep track of inventory levels would require manual overrides in order tp make changes to the system that the artificial intelligence deem unnecessary.
