Welcome the era of Supply Chain Management II
Supply Chain Frontiers, a collaboration between Georgia Tech and its partners, seeks to develop a new supply chain management model.
More than half of all corporate growth plans are unsuccessful today as a result of supply chain failure, according to Wallace Buran, managing director of the Georgia Tech Supply Chain Frontiers Institute . But that's not so surprising to Buran, since supply chain management principles and risk assessment practices haven’t substantially chained in more than 40 years.
Supply Chain Frontiers is a collaborative effort between Georgia Tech and its partners, as well as private industry to readdress supply chain management via a set of initiatives for developing new models and principles, and launching educational forums that kick off this fall.
“Companies don’t know how to think about their supply chains today when they directly own only 20 percent of it or less,” Buran says. “Supply Chain Frontiers starts the process of developing a new and better way of thinking about the supply chain than the traditional model, [which is] one-dimensional, based on cost. [The current model] doesn’t consider risk, understand capacity constraints, or collaborate effectively with a network of suppliers.”
Buran’s group plans to investigate these shortcomings in proposal of a new supply chain management model.
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