Supply Chain Building Blocks and Post-COVID-19 Recovery Measures With Artificial Intelligence

Abstract

Supply chain reach is vast and touches every aspect of business. As profitability of any business is directly impacted by its inventory, so any basic changes in operations would impact its performance. However, established supply chain paradigms are no longer valid as they are shaken up by VUCA economy, demographic change, sustainability, globalization, digitization, rise of ecommerce, political turmoil, social media, buying behaviour, and most importantly, by COVID-19. This COVID-19 pandemic crisis has taken over the world and brought additional challenges at an unprecedented scale. Since identifying and structuring the problem are the first steps towards effective SCM, so redesigning the distribution strategy is the need of the hour. Companies should innovate with data and new digital technologies to increase automation in their core process to forecast predictive analysis for greater customer experience and harness the disruption. In the context of disruption, this study explored how to utilize and optimize supply chain tools and models to make decisions during times of disruption.