BMO2203 Literature Review On Supply Chain Technologies

1.0 Introduction

The importance of an effective supply chain function within the conventional business organisation in the contemporary corporate landscape cannot be ignored. With the advent of technology, the supply chain function itself has evolved so much so that its effectiveness has improved drastically(Saikouk and Spalanzani 2016). However, the advent of technology has also resulted in certain issues relating to the supply chain technology. This report conducts a critical research literature review on some of these issues. Along with that, the report also presents technology applications and their influence on business operations. Another important highlight of the report is that of the flow of information amongst the chain partners which use supply chain technologies.

2.0 Literature Review

2.1 Key Issues Relating to Supply Chain Technology

The underlying issues relating to the supply chain technologies which are currently being used in the world incur an increased cost throughout the supply chain all thanks to the utilisation of supply chain technologies. The second most important issue is that of an increased pressure in the supply chain due to the risk of technology failure(Gligor 2016). Another important issue which relates to supply chain technology is that of the requirement of fast prototyping in some industries so as to capture the market and the attention of the customers.

2.2 Technology Applications and Their Impact on Business Operations

Technology is an important instrument for enhancing the competitiveness of the supply chain of a business. At the same time, it enhances the performance of the supply chain by making the supply chain and logistics system more effective and efficient. All of this has an impact on the operations of the business; if the supply chain is effective and efficient, there exists only a very small likelihood of any sort of delays in the operational processes of the organisation (Pigni, Ravarini et al. 2010). As a matter of fact, selecting the right supply chain technology for different logistics and supply chain activities including the sub activities and the sub processes of the business is of a profound importance for any business organisation (Gligor 2016). The impact of supply chain technologies on business operations and their application is so massive that it directly influences the situation of strategic competitive advantage of the organisation.

2.3 Flow of Information Among the Chain Partners Using Technologies

The use of the most sophisticated technologies and the internet in supply chain is increasing at a fast pace. The fundamental element of success in this regard is an accurate, fast and reliable source of information. This information, in the context of the supply chain, includes the level of inventory, the forecasting and sales data, order status and tracking, delivery schedule, procurement and performance metrics (Progress and Pooe 2018). An integration of all of the information characterising a supply chain management system and the flow of information helps the business realise benefits of efficiency. The ability of the business organisation to respond to market fluctuations and volatility is enhanced, thereby adjusting the position of the business to manipulate the production, inventory and logistics levels correspondingly in a resource optimistic fashion, keeping in view the dynamics of the contemporary corporate landscape(Qrunfleh and Tarafdar 2014). All of this comes from a smooth flow of information amongst the various supply chain partners using the contemporary supply chain technologies for business purposes.