Agricultural Value Creation through Effective
Supply Chain Management
Volume 2- Issue 2
Bowon Kim*
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- Department of Operations Strategy and Management Science, KAIST Business School, Korea
*Corresponding author:
Bowon Kim, Department of Operations Strategy and Management Science, KAIST Business School, Korea
Received: April 12, 2018; Published: April 18, 2018
DOI: 10.32474/CIACR.2018.02.000132
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Abstract
Agriculture is the most important industry for humanity. Unfortunately, however, it is also one of the least effectively managed
industries. It is true that for the last several decades, there have been enormous scientific advancements that have increased the
agricultural productivity. However, the question is whether the world has been able to reap the benefits to the fullest extent of such
scientific advancements. The agricultural supply chain is characterized with an extremely long and fragmented system consisting
of many gatekeepers throughout the value chain. As a result, it is vulnerable to a serious systemic malfunctioning such as the
bullwhip effect. When a supply chain is inflicted by the bullwhip effect, it suffers huge inefficiencies, which include increasing costs,
hampering innovation, and weakening problem solving capability. Unless it overcomes such inefficiencies, the industry as a whole
will lose its competitiveness and perish eventually. As such, in order for the agricultural industry to sustain and thrive, it is vital
to implement supply chain strategy effectively through coordination among the entire participants in the agricultural value chain.
Abstract|
Introduction|
The Agricultural Value Chain|
The Bullwhip Effect|
Discussion|
References|