Technological advancements are revolutionizing SCM, offering new tools for business leaders to streamline operations. Key technologies include:
Artificial Intelligence (AI): AI can predict demand, optimize routes, and manage inventory more efficiently. Blockchain: Blockchain technology ensures transparency and security in supply chain transactions. Internet of Things (IoT): IoT devices provide real-time tracking and monitoring of goods. Big Data Analytics: Analyzing large datasets helps in making informed decisions and forecasting trends.