Project on Integration of Operations Research in Supply Chain Management
Hirshika Sahu, Asst. Prof Pratiba
Operations And Research Management
PES University
100ft Ring Road, Bengaluru-560085, Karnataka India
ABSTRACT:
Effective supply chain management is a crucial success element for businesses looking to cut costs, improve customer service, and keep a competitive edge in today's dynamic and competitive business environment. The integrated use of operations research (OR) approaches to optimise many aspects of supply chain management, such as inventory, transportation, demand forecasting, and production scheduling, is explored in this study.
The study starts off by identifying the precise supply chain issues that call for the integration of OR. These difficulties could be brought on by problems with inventory management, transportation constraints, or inaccurate demand predictions. The foundation for the creation of multiple operations research models and optimisation methodologies, each tailored to the unique supply chain scenario, is a thorough literature assessment.
The study applies these models to actual or simulated supply chain scenarios through data gathering and analysis, enabling an evaluation of the effects of the integrated strategy. The outcomes show significant advantages, such as cost savings, increased effectiveness, and better customer service. Operations research integration encourages data-driven decision-making, which is consistent with the guiding principles of integrated supply chain management.
The study does, however, note certain possible drawbacks, including the need for ongoing development, data quality, change management, and technological infrastructure. It emphasises how crucial it is to deal with these difficulties in order to fully reap the rewards of the integrated strategy.
This study emphasises the value of an operations research-based integrated approach to supply chain management in its conclusion. It is a flexible and data-driven strategy with the potential to change logistics and supply chain management in the future. The results add to the body of knowledge on the subject and provide insightful information for businesses looking to improve their supply chains and achieve a competitive edge in today's market.
