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Future of Supply Chain: Challenges, Trends, and Prospects

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  • Cristiana L. Lara
  • John Wassick

Abstract

This paper discusses the broad challenges shared by e-commerce and the process industries operating global supply chains. Specifically, we discuss how process industries and e-commerce differ in many aspects but have similar challenges ahead of them in order to remain competitive, keep up with the always increasing requirements of the customers and stakeholders, and gain efficiency. While both industries have been early adopters of decision support tools based on machine intelligence, both share unresolved challenges related to scalability, integration of decision-making over different time horizons (e.g. strategic, tactical and execution-level decisions) and across internal business units, and orchestration of human and computer-based decision-makers. We discuss future trends and research opportunities in the area of supply chain, and suggest that the methods of multi-agent systems supported by rigorous treatment of human decision-making in combination with machine intelligence is a great contender to address these critical challenges.

Suggested Citation

  • Cristiana L. Lara & John Wassick, 2023. "Future of Supply Chain: Challenges, Trends, and Prospects," Papers 2301.13174, arXiv.org.
    • Handle: RePEc:arx:papers:2301.13174
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    References listed on IDEAS

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    2. Daniel Delling & Andrew V. Goldberg & Thomas Pajor & Renato F. Werneck, 2017. "Customizable Route Planning in Road Networks," Transportation Science, INFORMS, vol. 51(2), pages 566-561, May.
    3. Wenzel, Hannah & Smit, Daniel & Sardesai, Saskia, 2019. "A literature review on machine learning in supply chain management," Chapters from the Proceedings of the Hamburg International Conference of Logistics (HICL), in: Kersten, Wolfgang & Blecker, Thorsten & Ringle, Christian M. (ed.), Artificial Intelligence and Digital Transformation in Supply Chain Management: Innovative Approaches for Supply Chains. Proceedings of the Hamburg Int, volume 27, pages 413-441, Hamburg University of Technology (TUHH), Institute of Business Logistics and General Management.
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