Impact of Technology on Supply Chain

I would make my dreams come true as a result changing the supply chain management system to a better one and enhance the renovation of the business world at large. The management of the flow of goods and services from the collection storage of raw materials, work in progress inventory and finished products from a point of origin to the consumption. It also entails movement of finances, time and even information. The organization should have better strategies for maximizing the profits and minimizing losses; as a result, obtain a competitive advantage in the business world.

In the recent years, there has been the economic crisis, and it was able to challenge the supply chain. I would change the methodology of a supply chain in a modern way. Research and Development ease the entire exercise of supply chain management in that there be will be the development of new products and the new component to be used in the whole process of the supply chain. The institution of smartphones and analytics which are advanced in the market will help promote consumer base and make it possible to access goods and facts on time.

Innovation is vital to any person doing business since it's a better way of standing out in the crowd, development of new designs of products and production process as a whole (Ross, 2016). Technology has led to models which are digital which enhance business capabilities .companies should employ this and focus on the projects which are of reduced expenses. Technology helps in the planning of production and meet customer demands in the market.

Organizations should think of improving and re-evaluate the current situation in the economy. Information technology is a driver of change which has evolved over the last decades. Therefore all organization should consider using it to outsmart their competitors in the market.

References

Ross, D. F. (2016).Introduction to e-supply chain management: engaging technology to build market-winning business partnerships. CRC Press.

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