What factors account for the resurgence of interest in OSCM today?
What is OSCM?
The resurgence of interest in Operations and Supply Chain Management (OSCM) today can be attributed to several factors. To understand these factors, we can follow a three-step approach:
1. Research current trends: Start by researching recent articles, surveys, and reports related to OSCM. Consulting reputable sources like academic journals (e.g., Journal of Operations Management), industry reports (e.g., Deloitte's annual supply chain report), and trade publications can provide critical insights into emerging trends and the factors driving the resurgence of interest in OSCM.
2. Identify key factors: Analyze the information gathered and identify the common factors influencing the renewed interest in OSCM. Here are some commonly observed factors:
a. Globalization and supply chain complexity: With the expanding global business landscape, supply chains have become more complex, involving multiple stakeholders across different regions. Companies recognize the need for efficient operations and supply chain management to navigate these complexities and remain competitive.
b. Digital transformation and technology advancements: The rapid advancement of digital technologies, like artificial intelligence, internet of things (IoT), and big data analytics, has revolutionized OSCM. These technologies provide opportunities for optimizing operations, improving forecasting models, enhancing supply chain visibility, and enabling real-time decision-making.
c. Risk management and resilience: Recent incidents (e.g., natural disasters, trade wars, and the COVID-19 pandemic) have highlighted the vulnerabilities within global supply chains. Organizations are now emphasizing risk management and building resilience into their supply chain strategies, leading to increased interest in OSCM.
d. Sustainability and ethical considerations: Growing concerns around sustainability and ethical practices have also contributed to the resurgence of interest in OSCM. Stakeholders, including consumers, are increasingly demanding transparency and responsible practices throughout supply chains. Companies recognize the need to integrate sustainability initiatives into their OSCM strategies.
3. Synthesize and validate: Finally, synthesize the identified factors and validate them by referring to multiple sources. This helps ensure the accuracy and reliability of the information gathered.
Remember, the world of OSCM is evolving, and it's always recommended to stay updated with the latest research and trends to understand the factors driving the current resurgence of interest.