The Impact of Technology on Supply Chain Management and Logistics: An Analytical Study

Abstract

The development of technology significantly affects the fields of supply chain management and logistics. These areas now operate more effectively, quickly, and economically because of the integration of technology. Businesses have been able to improve customer service, optimize inventory management, and streamline the supply chains by utilizing automation, artificial intelligence, blockchain technology. Furthermore, the development of digital platforms and software programs has made it possible to track and monitor shipments in real-time, improving visibility and transparency throughout the whole supply chain. As a result, there is a lower chance of mistakes and delays occurring, and businesses are better able to make data-driven decisions and react rapidly to shifting market demands. Additionally, technology has aided in the development of novel business models, such as e-commerce, which have completely altered the conventional supply chain and logistics industry. Companies now need to accommodate smaller, more frequent orders and offer quicker delivery dates due to the increase of internet purchasing. This prompted the creation of fresh strategies and the innovation of delivery drones and autonomous vehicles. In conclusion, technology has transformed logistics and supply chain management, creating new chances for businesses to enhance customer experience, improve operations, and gain a competitive edge.