The increasing complexity of supply chains, coupled with the prevalence of just-in-time deliveries, has made it crucial to address the impact of unexpected events on multiple companies within the logistics chain. The bullwhip effect further exacerbates the situation by leading to unnecessary stock within the supply chain.
Currently, information regarding demand fluctuations or incidents is not consistently shared among all parties involved, leading to inadequate preparations and resulting in extra costs such as additional transport, overtime, temporary employment, and the rent of materials or spaces. Delays and decreasing quality as a consequence of these challenges can result in dissatisfied customers. It’s imperative that supply chain forecasting and planning be comprehensive and as accurate as possible.
Presently, planning is typically limited to individual companies or direct service providers, and issues tend to be passed up to the next link in the chain.
The implementation of chain-wide, real-time, and proactive supply chain forecast and planning would bring significant benefits to all companies involved, as well as to the end consumer. Achieving this level of forecasting and planning will require chain-wide cooperation and the adoption of modern technologies.
GOAL AND OPPORTUNITIES
In this project, HOWest, Sirris, and VIL will research how modern technologies such as blockchain, new data encryption methods, and artificial intelligence can contribute to sharing, analyzing, and real-time proactive supply chain forecast and planning.
