Creating Supply Chain Excellence in the Times of Chaos
Strategist consider scenarios of Static, Dynamic, Complex & Chaotic environments in which industries operate. The parameters for determining the same are – number of variables in the environment & the rate of change of those variables. A chaotic environment is one when the rate of change is high & the number of variables in the environment are large. The industry context for that period of industry life cycle is a ‘Chaotic’ environment. The current industry is passing through a phase like that with no surety if that is a permanent change in the way it will need to operate for years to come. Supply Chains are structures which support a random event called ‘sales’. Each Supply Chain supports a systemic component of demand & a random component of demand. The state of Supply Chains in Chaotic industry context makes the component of 'randomness' increase. While enterprises m...