University of Salford Global Supply Chain Management: Construction Industry
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University of Salford Global Supply Chain Management: Construction Industry Midterm Assignment Table of Contents1. Introduction 3 2.0 Influence of the Current Challenges in the Construction Industry’s Supply Chain 3 2.1 Primary Challenges affecting Construction Industry’s Supply Chain 3 2.2 Current Challenges Affecting Construction Industry’s Supply Chain 5 3.0 Implementation of Cutting Edge Technologies in Addressing Supply Chain Challenges in Construction Industry 7 3.1 Addressing Supply Chain Challenges using Technology 8 3.2 How Industry 5.0 enables firms in Construction Industry Gain Competitive Edge 11 4.0 Impact of the Transition to Industry 5.0 on Construction Industry and needed Strategies 12 4.1 Influence of the Transition to Industry 5.0 on Construction Industry 12 4.2 Strategies to Ensure Construction industry is ready for Industry 5.0 14 5.0 Conclusion 16 Reference List 17 1. IntroductionSupply chain refers to an interlinked system of activities, organizations, resources and processes involved in the production, procurement, transformation and distribution of goods and services from their source to end consumers (Lysons & Farrington 2012). Production process includes various stages, such as procuring raw materials, manufacturing or production, storage/warehousing facilities, transportation/logistics and delivery to customers of finished goods. Waters (2009) states that supply chain management plays an integral part in global business, facilitating the flow of goods and information across international boundaries in an efficient manner, thus minimizing costs while simultaneously increasing customer satisfaction. Supply chain management in construction is critical, as it involves coordination among various stakeholders such as contractors, suppliers, architects and clients in order to deliver projects on time and within budget. This paper investigates the construction industry's supply chain in detail, focusing on its vulnerability due to COVID-19 pandemic and Ukraine-Russia war, both of which have highlighted vulnerabilities and disruptions within it. Additionally, this paper will discuss the potential influence of cutting-edge technologies like those found in Industry 5.0 on construction supply chains; including automation, artificial intelligence and Internet of Things (IoT). These technologies could profoundly transform and shape this industry over the coming years. Download 215.55 Kb. Share with your friends:
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