Tech Innovations in Supply Chain Management
The supply chain is the foundation of almost every sector, ensuring that goods are delivered to customers successfully and efficiently. Technology advancements have recently changed supply chain management, making it more flexible, open, and effective. Here are a few notable technological developments in supply chain management. Blockchain Technology Blockchain is revolutionizing supply chain management by enhancing transparency, traceability, and security. Each product or batch of goods can be assigned a unique digital signature recorded on a blockchain. This allows all stakeholders to track the movement of products from manufacturer to consumer in real-time. Notable applications include verifying the authenticity of luxury goods and tracking the origin of food products to improve safety and quality. Internet of Things (IoT) IoT devices, such as sensors and RFID tags, are increasingly being deployed to monitor and track goods in transit. These devices provide real-time data on factors...