Supply chain management (SCM) is a critical part of modern business operations that involves the planning, execution, and control of all sourcing, procurement, and logistics activities. Industry 4.0, sometimes called the 4th Industrial Revolution, is characterized by integrating advanced analytics, digital technologies, and automation in manufacturing and logistics processes. 

Evolution of Supply Chain Management

The traditional supply chain focused on optimizing the flow of materials and information from suppliers to consumers. It has been a straightforward process for many years, with little attention paid to the inner workings of the processes.  However, as markets have become more dynamic and customers' expectations have risen, businesses have recognized the need for a more dynamic approach. The dynamic approach involves stronger collaboration between suppliers, manufacturers, and customers using real-time data and analytics for enhanced supply chain visibility.  The goal is to create a responsive and agile supply chain that adapts to market fluctuations and customer demands.

A New Paradigm: Industry 4.0

Industry 4.0 represents the next stage of the manufacturing evolution with an industry marked by a fusion of advanced manufacturing, technology, and real-time data analytics.  Key elements include Internet of Things (IoT), artificial intelligence (AI), big data, cloud computing, and blockchain technology. The technologies found in a classic computer degree program are integrated into business processes.  These technologies facilitate improved connectivity and data exchange across the supply chain with more precise visibility and decision-making.

Competitive Advantage

Companies that leverage Industry 4.0 technologies in their supply chain management can achieve a significant competitive advantage. The ability to respond quickly to market changes can mean the difference between a company thriving and growing or remaining stagnant. Integrating digital tools enhances supply chain resilience, enabling businesses to withstand disruptions, such as those observed during the COVID-19 pandemic.

Looking into the future

Supply chain management is undergoing a profound transformation driven by Industry 4.0 technologies. As businesses navigate the complexities of globalization and technological advancement, embracing Industry 4.0 principles in supply chain management will be key to achieving market growth. Purdue University Global has met the challenge of preparing supply chain professionals with the new Bachelor's of Applied Supply Chain Management degree program (BS-ASCM).  The BS-ASCM will prepare students to become leaders in the growing field of supply chain management. 

For more information, contact the PG admissions team at 844-787-3834

Dr. Toney L Ferguson, D.B.A, M.B.A, M.P.M.

Professor of Supply Chain Management

Email: Tferguson@purdueglobal.edu

Attention all students!

Are you interested in the dynamic world of supply chain management? Do you want to enhance your skills, network with industry professionals, and gain valuable insights into the logistics and operations that drive businesses today? If so, we invite you to join the Supply Chain Student Club!

Why Join Us?

• Networking Opportunities: Connect with fellow students and industry experts.

• Seminars: Participate in hands-on workshops and informative seminars led by professionals in the field.

• Real-World Experience: Engage in projects and case studies that provide practical experience.

• Career Development: Gain insights into internships and job opportunities in supply chain management.

Who Can Join?

The Supply Chain Student Club is for anyone interested in learning more about this essential field. 

How to Get Involved:

It’s easy to join! Click here to join the Supply Chain Students’ Club, where you can access the information to join ASCM and get started on the next step in your career in this growing field.

Don’t miss this opportunity to expand your knowledge and professional network. We look forward to seeing you there!

For more information, contact the faculty advisor, Dr. Toney Ferguson Tferguson@purdueglobal.edu

Let’s build a strong supply chain community together!