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FUTURE ADVANCEMENTS IN SUPPLY CHAIN TECHNOLOGY 1Future Advancements in Supply Chain TechnologyEmbry-Riddle UniversityDecember 16, 2016
FUTURE ADVANCEMENTS IN SUPPLY CHAIN TECHNOLOGY 2Future Advancements in Supply Chain TechnologyWith today’s advancements in technology changing every day, organizations need to stay at the fore front of these changes to have the ability to compete in the global market. Without technology, supply chain management would not be able to communicate as efficiently with theirhubs across the globe. Software technology enables managers in real time to see a variety of information from around the global, which allows them to make informed business decision quickly if needed. Hardware technology enables supply chain distribution centers and transportation to work efficiently and effectively. To be able to continue working efficiently and effectively in software and hardware technology, managers must stay up to date with advancements. Software technology has become the backbone in most businesses today because of the invention of the internet. Across the globe, everyone is connected because of the internet, including supply chains. The advancement in software technology is an important factor becauseit is used in areas such as: transaction processing, supply chain planning and collaboration, order tracking and delivery coordination, and supply chain analytics[Mye16]. These areas allow the managers to view end-to-end order fulfilment processes and provide visibility into specific areas.Transaction processing allows manual work and cost to be reduced, information quality is improved and faster transfer of information [Mye16]. Supply chain planning and collaboration runs demand forecasting, planning for production and distribution, procurement, and also planning sales and operations[Mye16]. Order tracking and delivery coordination tracks the progress of orders and/or deliveries and shares this information with interested parties[Mye16]. Supply chain analytics provides improved data accuracy, clarity and insights, which can be shared across supply chains[Mye16].
FUTURE ADVANCEMENTS IN SUPPLY CHAIN TECHNOLOGY 3Without software technology in these core areas, supply chain managers would not be able to effectively operate on a global capacity. Within the scope of software technology, information technology experts believe there are three big areas to watch for: mobile computing, analytics software, and social media [Coo11]. Mobile computing, whether in the form of smart phones or tablet computers, offer extreme flexibility for managers during their day to day activities since they no longer need to return to their desks for essential data [Coo11]. This ability to have access to key information while on the road or in the warehouse, is an extreme draw to managers. This flexibility works great for truckers as well so they can have information passed to them in a timely manner, as well as be able to look up, or receive information on the gorather than waiting on the opportunity to call or access a computer[Coo11].