Trend In Logistics And Supply Chain Management.doc - Running head TREND IN LOGISTICS AND SUPPLY CHAIN MANAGEMENT 1 Trend In Logistics And Supply Chain

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Running head: TREND IN LOGISTICS AND SUPPLY CHAIN MANAGEMENT 1 Trend In Logistics And Supply Chain Management Name Institutional Affiliation Course name and number Instructor’s name Date Trend in Logistics and Supply Chain Management In this competitive world, businesses and organizations must step up their modes of operation to suit the various competitive requirements in the modern market. In every organization, success is determined by the level of synchronization in the logistics and supply chain management. In the real world, most businesses and organizations lose productivity due to failure in complying with the current trends in logistics and the influence of supply chain management in the cooperate strategy. This paper will look into various new trends that are continuously being adopted by organizations as well as the role and importance of supply chain management in the business strategy of an organization (Lichocik, & Sadowski, 2013).
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TREND IN LOGISTICS AND SUPPLY CHAIN MANAGEMENT 2 Logistics management is a term coined to refer to the governance of the functions of supply chain within an organization. This entails various activities which are both inbound and outbound including warehousing, third party providers of logistic services, inventory management, materials handling and transportation management among others. Depending on the variability of the organization set up, the functions of logistics can be extended to procurement, production planning, packaging and assembly, customer service and sourcing among others. In a proper setup, logistics must be included as one of the key structure of the company. This ensures that the logistics functions are well taken care of and well distributed through all the hierarchies of the organization (Heckmann, Comes, & Nickel, 2015). Suppose we are to go by the statistics of the last two decades, we have a lot to point out that logistics management and supply chain is in a state of constant change. Several trends are being initiated, and most of the supply chain managers who ones perceived themselves as cost managers are now doing a lot in the management of the relationship between organizations and their stakeholders. This is just one of the results of invisible changes that are resulting from the emerging trends in this business sector. Organizations must now keenly learn the following five key trends in logistics and supply chain management (Ellinger et al., 2011). First, the talent of supply chain management is swiftly moving from being a mere requirement but a necessity. Most of the managers have now realized that supply chain talent is inevitable in the strategy of their organizations. A major study done indicates that positioning of the right and competent people in the development of global sourcing strategies is a top factor for success for the companies. Similarly, the study noted that lack of strategic and skilled personnel in initiatives of global measures is a big barrier to success. This notion, however, is argued against by several people. This trend is evident in more than 80% of medium to large size
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