Agile strategies  for retail supply chain Management

As a result of the effects of change and globalization, companies are attempting to build and sustain their edge over competitors in a multitude of sectors. This scenario illustrates their effectiveness and efficiency in utilizing the resources available to them. The notion that the supply chain encompasses the complete manufacturing, distribution, and even recycling of a product, as well as the reality that efficient supply chain management signals effective corporate performance, has piqued interest in the supply chain. Companies must continually assess their supply chain architecture since it must be flexible, rapid, and timely in order to make the appropriate changes in the industrial environment. Agility is a concept that is widely discussed in scholarly communities and in management practices and guidelines of its interaction with the supply chain. It was originally developed at the stage of selecting the right strategic plan in line with the requirements of the moment. The necessity for an innovative supply chain system is highlighted by the global expansion of activity areas, the uncertain industrial environment, and consumer demands. In this context, an agile supply chain provides organizations with the ability to adapt to unforeseen occurrences both inside and outside the company. The agile supply chain has now been analysed in terms of the requirements of an integrated supply chain in managing uncertainty as well as its beneficial benefits for the performance of the organization as a system in several roles. First, using research on the agile supply chain, a conceptual framework was created, and the aspects that build the foundation for the agile supply chain were presented. Following that, the elements that influence the choice of an agile supply chain within the context of product and market expectations were discussed. Within the scope of the research and reports, the beneficial effects they have had on business are summarized. Based on an assessment of the supply chains used by businesses, it is determined that agile supply chain applications are critical for long-term competitive advantage (Ruffle and Saradar, 2013).

            supply networks are growing more complex, and managing this complexity in order to ensure effective responsiveness necessitates more sophisticated data processing. In this respect, technological advancement (IT) is a tool that helps to digitalize and/or create information systems procedures at the SC level in order to gain a competitive edge via responsiveness. As a result, both LSC and ASC may be supported by IT because they are strategies connected to SC's response capabilities, delivering leanness or agility, respectively. As such, major innovations in the IT solutions that can be applied to SC, as well as changes in demand that necessitate very flexible responses, have attracted the attention of business executives in the IT-flexibility relationship, prompting researchers to examine the existing relationship between IT and flexibility (Rahimi Nezhad Galan Kashi and Helmi, 2016).

The agile supply chain prioritizes speed, response, cost effectiveness, flexibility, and increased product and service production. Agile organizations provide greater service standards with reduced inventory, so this sector has received a lot of attention in the industrial and service industries during the last two decades. This research  report presents a bibliometric survey of the literature on agile supply chains in the industrial and service industries. It gathers information from a variety of publications, companies, and regions to create a map of prior study on this topic. Using a variety of approaches, the study shows how adaptable supply chain research has evolved over the past few decades. Diverse visualization methods have been used to examine highly significant authors, organizations, and keywords. Important publications, citations, and a network of co-citations have been included in the study. The main objective of this study is to present the efficiency of the Agile strategies for retail supply chain management (Martin and Twill, 2000) .

 

 

1.    Background

 

1.1  Key issues and their conceptualization

 

In developing brand reputation and establishing competitiveness in the global market, supply chain management plays a significant role. Supply chain management methods are one-of-a-kind and unrivalled. Effective supply chain management methods usually boost organizations' revenue by reacting well to consumers' requests as well as building rapport and dependability across enterprises for improved customer delivery. Customers' demands are increasing as the market expands from a domestic to a worldwide level, particularly in terms of lower-cost items, faster delivery, improved quality, and the quantity of product assortments. This necessitates backing for efficient supply chain management, which may enhance value, efficiency, and customer satisfaction. As a result, the marketability of items is determined. Industry leaders, policymakers, educators, and researchers are all concerned and interested in supply chain management in the present market conditions. This is because the area encompasses a wide spectrum of operations, ranging from procurement and manufacturing to consumer products, and it has become the primary instrument used by businesses to gain a competitive advantage in the market. Due to its essential position of "location" in the "demographic segmentation" marketing mix idea, it is becoming a key aspect in surviving in today's corporate situations. Supply chain management is the sole aspect of the market that is particularly tough to mimic when compared to other notions. Supply chain management necessitates a firm's connection with its suppliers being extended (Moynihan and Dai, 2011).

Fig2: link between agile strategies and Competitiveness  source: ResearchGate

Some key issues related to supply chain management-

·       Customer expectation management is one of the most difficult aspects of supply chain management. Service providers are supply chain managers. They also help with indirect procurement, project and production demands, as well as requests coming from external customers. As a result, supply chain managers must implement effective procedures to ensure that commitments are met on time, every time.

·       Along with managing consumer expectations, suppliers must also be managed. To properly manage the supply chain, one must have good connections with the suppliers. For resolving this issue real time data on timely basis is highly required.

·       Concerns regarding the quality and sustainability of products manufactured in other locations are amongst the issues of the international supply chain network. This is especially true when product components must full-fill regulatory requirements.

·       Access to your supply chain data is one of the most crucial criteria in today's modern supply chain. Data access can assist in a more effective supply chain. Without this, you won't be able to make informed changes to your supply chain or reduce risks.

·       Risk mitigation is difficult for any supply chain management organization. Whereas risk is a broad concept, supply chain managers should be aware of a few key supply chain concerns (Martin and Twill, 2000).

 

1.2  Supply chain modules with strategies

S.no	Module	Strategy
1	Production Management	Production management is the process of overseeing a company's actions in order to provide the required products and services. Planning, executing, and directing activities to turn raw resources into completed goods and services are all part of it.
2	Inventory management	The process of ordering, storing, using, and selling a company's inventory is referred to as inventory management. This involves the storage and processing of raw materials, components, and completed goods, as well as the administration of raw materials, modules, and final products.
3	Location Management	The process of determining a person's physical location so that calls directed to that user can be routed to that place is known as location management. Location management is also in charge of ensuring that users accessing the network are genuine.
4	Transportation Management	As part of supply chain or logistics management, transportation management encompasses the systems and procedures used to manage the requirements and demands relating to the physical movement of products and cargo.
5	Information Management	Throughout the information life cycle, information management is a wide phrase that encompasses rules and processes for centrally controlling and distributing information across many persons, organizations, and/or information systems. Information asset management is another term for information management.
6	Requirement Management	The goal of requirements management is to make sure that product development objectives are accomplished. It's a collection of procedures for documenting, evaluating, prioritizing, and agreeing on requirements so that engineering teams have the most up-to-date and authorized requirements at all times.
7	Quality management	The act of managing all activities and duties required to achieve a specified degree of efficiency is known as quality management. Quality management includes establishing a quality strategy, developing and executing quality assurance and planning, as well as quality control and quality improvement.
8	Customer management	Customer management is referred to as the process of managing an organization's, people's, and customers' relationships across time.
9	Stock Management	The technique of ordering, storing, managing, and regulating goods is known as stock management. From raw materials to completed items, stock management relates to everything a company employs to make its products or services.
10	vendor	Vendor management is the process that enables a company to take necessary steps to control costs, reduce possible vendor risks, ensure outstanding service delivery, and get long-term value from suppliers.

(Rahimi Nezhad Galan Kashi and Helmi, 2016)

2.3  Application of agile strategies for retail supply chain management

Adaptability is a priority in agile supply chain management. It's for businesses that need to respond rapidly to shifting circumstances. This strategy made it easier to adapt sourcing, logistics, and sales in response to economic fluctuations, technological advancements, and client demands. Before ending manufacturing, an agile supply chain usually waits to see what the market demand is. Corporations may use short-term estimates to help them stay flexible, but one of the most important aspects of agile supply chains is that they adjust to demand as it occurs. This method is ideal for generating goods that are constantly changing and adaptable, like clothing. The agile supply chain emphasizes adaptability and responsiveness. It adjusts to changes in the marketplace, client preferences, and business quickly. It's designed to deal with market volatility by "postponing" manufacturing and waiting to see what the market says before proceeding. An agile supply chain waits to see how much demand there is before generating the final product, allowing it to react immediately to demand rather than predict it. Some market forecasting is still required as several parts of a product are generated ahead of time to make the finalization process swift and efficient (Hamdani et al., 2022).