How does technology influence supply chain management? 🔊
Technology influences supply chain management by enhancing efficiency, visibility, and responsiveness. Utilizing technologies like IoT for real-time tracking, AI for demand forecasting, and blockchain for secure transactions, businesses can streamline operations and improve logistics. Automation reduces manual errors, while data analytics provide insights into performance trends, helping organizations make informed decisions. This integration of technology leads to optimized inventory levels, reduced costs, and increased customer satisfaction by ensuring timely delivery of goods.
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