Solution

6.0 Innovative Measures for Improving Supply Chain

6.1 Complexities and Volatilities Management

Considering SWOT analysis findings analysed in this report, a major challenge limiting success of Oxy is delays in their contract implementation and costs overruns. This is since the supply chain is complex and volatile. As evidenced in Akın Ateş et al. (2022), to be able to deal with overall complexity, most appropriate strategy would include using data analytics in order to harness optimised costs, improved practice and holistic category management. In Oxy organisation, data analytics would be used in predicting demand patterns, seasonal fluctuations and optimising inventory levels. This is by using it to analyse historical sales data and market-based trends for informed decisions.

Also, for Oxy to ensure they improve coordination in making decisions amongst all stakeholders in their supply chain, this approach is important. Concurrently, efficient resource use and accessing data in overall spend areas is achieved. These complexities would in-depth be managed through the use of a data-based process for sourcing important insights and information required to be included as part of procurement teams operations. In management of identified complexity, Irfan et al. (2022) argue that the most appropriate strategy is ensuring they are compliant and mitigate any liability caused by poor performance. The outcome of this would include the whole PS&M administration and leadership noting on increased value and driving success in Oxy change embrace.

Additionally, as identified in Pellegrino et al. (2019) the supply chain volatility entail variations not planned both in upstream and downstream flow of materials hence mismatched supply chain network and resourcing needs emerging. Considering Oxy organisation case, they are affected by a challenge of sourcing and delivery time delay hence an increased wastage to upto 20%. This represent overall internal spend category where a lot of costs are incurred, lack of compliance with existing laws and inefficiencies.

Taking into account of Oxy organisation, using technologies such as Machine Learning for data analytics, the SAR40 Million which are costs overruns can be used as a saving. This is at the same time redistributing the entire revenues integrated in PS&M strategy. Machine learning would be applicable in their supply chain by inventory management/clustering. The best practice is analysis of their items costs, demand patterns and their sourcing strategy to optimise replenishment plans. The entire PS&M strategy would also be merged by use of machine learning offering guidance for Oxy organisation to have a money-back guarantee. This is at the same time gaining in an increased value optimisation at their sourcing strategy bottom-line (Treiblmaier, 2019). The existence of any inefficiency in getting an approval and also workflow issues contribute to complexities and volatility in the supply chain.

6.2 Dynamic Supply Networks

The supply chains which are dynamic are identified in Ivanov and Dolgui (2020) as promoting balanced opportunities used to drive………………

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