Building Sustainable Supply Chains for the Future
This chapter suggests that applying intellectual capital (IC) and knowledge management (KM) principles can create an inimitable advantage for enterprise supply chains. Intellectual capital comprises all non-monetary and non-physical resources that are fully or partly controlled by the organization and contribute to value creation. Knowledge creation, use, sharing and retention have always been important. What is new is the significant shift towards a focused, strategic approach to managing knowledge, knowledge processes and knowledge products. The key challenge in intellectual capital management is transforming intangible assets into something that creates value for the organization. Dynamic capability is the ability to achieve new forms of competitive advantage by appropriately adapting, integrating and reconfiguring intangible assets, organizational skills, resources and competencies. Turning to the knowledge impact, for organizations whose business model is founded on offering standard products and services, the appropriate knowledge management focus is knowledge re-use.