We are living in an amazing era of technology-driven transformation that redefined how business organizations operate different functions to buy, sell, market, communicate and collaborate, all happening in really short period of time.
Today more and more businesses are relaying on rich market data to obtain information about sells to predict product demand and control business operations based on real time data. Companies like Google, Amazon, Netflix, and Spotify are few of 1000’s of fast-growing companies that continue to leverage technology to gain more insights from the data they collect through their customer. Now think about the impact of technology on supply chain management. A supply chain is the heart of organization’s operations. It’s a network of business partners like manufacturers, suppliers, distributors, and retailers who all work together to fulfill the consumers demand of product and services. Tech advancement, which enable information availability made it possible to create transparency and integration within members of supply chain. In this blog, we will see the impact of information sharing on supply chain on retail business and related chain members. We will also examine how it relates to Porter’s Five Competitive Forces model.
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