Only recently have I been introduced to this idea of “efficient supply chain,” and only since have I become aware of its increasing importance. If technology can be used to increase the efficiency and cut costs of a company’s supply chain then all the better. Furthermore, the additional use of technology makes it easier for customers to get what they want and interact directly with the supplier.
The world is basically corresponding over the internet. With this prevalent use of technology, companies are provided with an economic incentive to use it. It creates the ability to target customer choice and then manufacture only what is needed. It can help decrease inventory turnover rates. It can provide an advantage of a properly coordinated supply chain. Plus, technology can be used for the more meagre tasks such as paper work and then more time can be directed towards customer service.
The technological innovation of our time is changing as fast as customer wants. Therefore, it is absolutely essential for profitable companies who hope to have the most efficient supply chain to keep up with relevant technology and channel it to satisfy the customer and eliminate unnecessary costs.