How does emerging technology impact supply chain management? 🔊
Emerging technology significantly impacts supply chain management by enhancing transparency, efficiency, and responsiveness. Technologies like IoT enable real-time tracking of goods, allowing businesses to monitor their inventory and logistics closely. Blockchain provides a decentralized ledger system that enhances traceability and reduces fraud by ensuring all parties have access to immutable transaction records. Furthermore, AI and machine learning tools analyze vast amounts of data to optimize routes and predict demand fluctuations, enabling proactive decision-making. Overall, embracing emerging technologies can transform supply chains into more agile and efficient networks, ready to meet changing market demands.
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