What is the impact of technology on global supply chains? 🔊
Technology significantly impacts global supply chains by enhancing efficiency, reducing costs, and enabling real-time management. With advancements such as IoT, organizations can monitor inventory levels and track shipments globally, fostering a more responsive supply chain. Technologies like blockchain enhance transparency, allowing stakeholders to verify product origins and ensure compliance with regulations. Furthermore, AI helps forecast demand and optimize logistics, ultimately improving customer satisfaction. However, reliance on technology also poses risks, including vulnerabilities to cyberattacks and disruptions from technological failures, which can affect the entire supply chain network.
Equestions.com Team – Verified by subject-matter experts