In recent years, Supply Chain Management (SCM) has become one of the key enablers for
achieving competitive advantage. An effective SCM can be proved critical for the success
or failure of an organization and thus it becomes an important value driver for
organizations. Increased customer demand and variety, intensified competition, increasing
complexity and dynamicity of global operations, pressure on innovation of products and
services, advances in technology particularly Information and Communication Technology
(ICT) have added complexity in designing and managing supply chains. Over the years,
the concepts and practices of SCM have undergone several changes that have been
reflected in its ‘constantly evolving’ nature. From its initial cost efficiency focus to modern
responsive and agile nature, SCM has witnessed a transformational change at the
operational frontier. To sustain under volatile business environment, it has become
imperative to operate with information-driven strategies wherein collaboration among the members is one of the key success factors. Effective coordination and collaboration
enables the members of a supply chain to achieve its global objectives.
However, sharing of information plays an indispensable role in SCM integration. It
improves customer services and financial performances by providing accurate and relevant
on-time information and also enhances supply chain visibility. It sets and monitors key
performance indicators to highlight variances and inefficiencies and mitigates the
bullwhip effect which is essentially caused due to the distortion of demand information
while moving from downstream to upstream (Lee et al., 1997; Lee and Whang, 2000;
Vickery et al., 2003; Cheng et al., 2010 and Miah, 2015). How timely and accurately an
organization can formulate an effective and futuristic strategy has become a critical issue
in the context of modern SCM. Exploiting the rich capabilities of analytics, organizations
can reap the benefits of Big Data-driven insights to work with optimal lead time and
improve prediction of future to cope up with uncertainties. Researchers have found that
in order to achieve seamless coordination or harmony among the members of a supply
chain for taking right decision at right time, to deploy resources optimally and channelize
all activities in right direction, to provide right product to the customers at right time,
information acts as an ‘invisible thread’ among the members.
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