How Technology Can Assist In Achieving Transparency In A Global Supply Chain Supply chain refers to the technique utilized by an organization, inhabitant, technology, information and assets in transmitting a product from one particular place to the other. It is a process of transferring the products or services from the suppliers to the clients or end users…
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Global supply chain mainly deals with transportation of products to a plethora of countries rather than local or nationwide orientation. The prime objective is to create net worth, competitive transportation and to meet up with supply along with demand of the customers. Along with these, the total cost involved in the transportation of products should also be quite reasonable, in order to retain its market share among others (Mentzer, 2001). Hence, in order to sustain in this era of globalization and industrialization, it is essential to implement innovative technologies, information technology (IT) strategies along with modern equipments to ease the difficulties associated with supply chain. Due to globalization and offshore sourcing, the issues related to global supply chain is becoming more significant and striking in this recent era. Thus, in order to ensure sustainability, every organization related with logistics is attempting to implement innovative IT technologies and policies in order to remain competitive in the market. It is essential as it would facilitate in reducing varied problems namely shipping time, charge of required space, tariffs, local cost of the labors and weather conditions among others. Due to the above mentioned problems, both the customers and the dealers have to face varied consequences which even include cancellation of the contract at times. Thus, in order to solve these problems, the global supply chain organizations are attempting to implement IT strategies and systems such as online websites (Mentzer, 2001). Implementation of IT strategies would facilitate the customers to purchase or book the products with the help of online websites. It would ease the problem related with the transportation of the products from one place to the other. Hence, it would also reduce the total expenditure of an organization as well as the customers, which would rather prove beneficial for both. Furthermore, with the help of E-procurement and E-sourcing techniques, varied organizations can easily connect to various reputed suppliers and distributors in a single span of time, which is quite noteworthy (Epiq Technologies, Inc, 2010). It would also help to reduce the cost incurrence of the organizations thereby improving the total revenue. Moreover, the introduction of E-purchasing technique would also facilitate to enhance customer awareness and responsiveness thereby augmenting corporate image and brand identity for an organization in the market. Moreover, by the implementation of E-sourcing software, the entire business operations can be mapped and operated with a single electronic machine in a particular place thus reducing the cost of traveling. It would also help in utilization of the total time in productive work which would increase the efficiency and the profitability of an organization. It would rather prove beneficial for the organization as well as the employees (Epiq Technologies, Inc, 2010). With the help of technological aspects such as IT, the global supply chain organizations can also offer varied discounts strategies on the packaging quantities in order to attract additional customers, which would be beneficial for the organizations. Hence, it would help to improve the total revenue of the organization in the market. Apart from the above mention
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