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Supply Chain 5.0

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Supply Chain 5.0

Driving Human-Centric Technology in Supply Chain Operations

Kogan Page,

15 min read
8 take-aways
Audio & text

What's inside?

Supply Chain 5.0 calls for combining the best of human effort and high tech to serve customers and save the planet.

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Editorial Rating

9

getAbstract Rating

  • Comprehensive
  • Analytical
  • Applicable

Recommendation

While the future of supply chains will require the latest, most efficient, and cost-effective technology, their long-term outlook also depends on how people confront the monumental problems facing business, society, and the environment. Many products and services rely on extracted resources and create waste, so the well-being of both humans and the Earth will rely on thoughtful, purpose-driven supply chain management. Daniel Stanton and Janeth Gabaldon call for a new strategy, Supply Chain 5.0, that includes ethical responsibility, sustainability, and innovation as well as efficiency and financial success. Their intellectually substantial book also provides illustrative, fine-grained examples and useful, end-of-chapter highlights. 

Summary

The Fifth Industrial Revolution is changing the purpose of supply chains.

Supply chains are in tremendous flux amid the ongoing Fifth Industrial revolution. Industrial revolutions don’t just institute new technologies; they transform the way people work and live. The first industrial revolution, beginning in the 18th century, and the second, extending into the 20th century, saw the advent of factories and increased standardization leading to large-scale manufacturing, mass production, and global commerce.

The introduction of computers spurred the third industrial revolution, and the advent of the internet and advances in artificial intelligence and robotics inspired the fourth. Each industrial revolution affected supply chains and disrupted business processes, workforces, and the environment. The disruptions of today’s fifth industrial revolution, “Industry 5.0,” call for a new approach to supply chains called, “Supply Chain 5.0,” a human-centered, sustainable, and technology-savvy strategy for managing the flow of goods and services.”

Supply Chain 5.0 should create systems that increase human capability.

Advanced digital technologies...

About the Authors

Daniel Stanton, an educator and speaker on supply chain management issues, is also the author of Supply Chain Management for Dummies and Project Management with AI for Dummies. Janeth Gabaldon, an assistant professor at the University of Arkansas’s Sam M. Walton School of Business, specializes in logistics and supply chain management. 

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