RETHINKING SUPPLY CHAIN MANAGEMENT THROUGH NEW DIGITAL APPLICATIONS

Hazik Mohamed

Chapter 7 in Beyond Fintech:Technology Applications for the Islamic Economy, 2020, pp 121-142 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Globalization has created complex supply chains to support free trade. The goods move across production facilities and supply chains, connecting markets involving numerous players along the way, while being subjected to different legal standards and quality requirements across multiple jurisdictions. By generating digital versions of real-world assets and tracking their pertinent data as a distributed, shared source of information, significant efficiencies and process improvements can be achieved. The use of distributed ledgers or blockchains to track goods as they move along the supply chain, makes for transparency and accuracy in the location of the goods at any point of time, in real-time. In this chapter, we provide a short discussion of artificial intelligence (AI), blockchain, and IoT applications in supply chain management and understand the benefits and the shift in the processes, in digital applications.

Keywords: Ethics and Technology; Digital Transformation; Regional Development; Customer Behaviour; Evolution of FinTech; Global Landscape; Payments; Asset under Management; InsurTech; Investments; Cloud Computing; Big Data Analytics; Blockchain; Internet of Things (IoT); Robo Advisors; Artificial Intelligence; Machine Learning; Islamic Finance; Endowment; Intellectual Property; Fraud Detection; Risk Mitigation; Cost-Effective; Increased Productivity; Immutable; Know Your Client (KYC); Media Rights; Coordination; Efficiency; Consensus-building; Agility; Scalability; Innovation; Cybersecurity; Collaboration; Venture Capital; Enterprise Solutions; Era of Digitization; Digital Ecosystem; Disruptive Models; Market Insights; Predictive Analytics; Insurance; Takaful; Capital Markets; Distributed Ledgers (DLT); Wealth Management; Islamic Markets; Sharing Economy; Trust Mechanism; Open Platforms; Web and Mobile; Cloud Computing; Trades and Settlements; Regulatory Controls; User Defined; Institutional Economics; Cryptocurrency (Tokens); Public Registries; Smart Contracts; Securities Clearing; Automation; Enforceability; Claims Processing (search for similar items in EconPapers)
JEL-codes: G1 G11 G2 O3 O32 (search for similar items in EconPapers)
Date: 2020
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