What role does technology play in supply chain management?
Technology significantly enhances supply chain management by enabling real-time visibility and improving communication across the supply chain. Solutions like IoT devices and data analytics enable organizations to monitor inventory levels, track shipments, and forecast demand more accurately. Automation of repetitive tasks streamlines operations, reducing costs and improving efficiency. Additionally, cloud technology allows for better collaboration among supply chain partners, facilitating seamless data sharing. Overall, technology optimizes supply chain processes, leading to faster response times and better customer satisfaction.