Name :- Ashutosh Dhole

Class :- Sy BBA
Roll no :- 35
Subject:- Project Report on evaluation of technology use in modern supply chain management .

Supply chain management means keeps the mechanisms of supply and demand operating
smoothly so that people have access to goods and services. From sustenance and shelter to the
way we work and entertain ourselves, a well-oiled supply chain is critical for maintaining
economic stability and a functioning society.

Introducing
Supply chain management is a critical aspect of business operations, and the use of technology
has become increasingly important in modern supply chain management. Technology has
revolutionized the way companies manage their supply chains, providing them with the tools
and resources they need to streamline processes, improve efficiency, and reduce costs. This
report aims to evaluate the use of technology in modern supply chain management, focusing on
the benefits, challenges, and future trends.

Todays scm is all about customer

SCM has historically been about increasing efficiency and reducing costs. Although those needs
haven’t changed, what has changed is that the customer is now playing a front-and-center role
in setting SCM priorities. It’s been said that “customer experiences live and die in the supply
chain.”
Customer loyalty is predicated on an enterprise being able to quickly and accurately fulfill
customer expectations. Raw materials, manufacturing, logistics, and trade and order
management must all be coordinated to get a given item to the customer within a reasonable
timeframe. To accomplish this, companies must look at their supply chains through their
customers’ eyes. It’s not simply about getting the order to the customer on time; it’s about
doing everything at the right time—before, during, and after order delivery.
The future of SCM
The supply chain of the future is all about responsiveness and the customer experience―
understood and managed within a network rather than a linear model. Every node of the
network must be attuned and flexible to the needs of the consumer while also being capable of
addressing factors such as sourcing, trade policies, modes of shipment, and more.
Advanced technology will increasingly be used to improve transparency and visibility
throughout this network, as well as to further enable connectivity and SCM utilization. The
entire SCM planning function will become more intelligent to take consumer demands into
account. The ability to adapt will be a mandate.
In the past, supply chain planning has been a periodic business exercise. Heading into the
future, it will be continuous. Future SCM systems will also bring tighter alignment between
planning and execution, which is not a current state for most enterprises. The need for speed
and accuracy in SCM is only going to increase. Make sure your supply chain is ready for the
future by supporting it with an intelligent SCM system.

Benefits of Technology in Supply Chain Management

The use of technology in supply chain management offers numerous benefits to businesses.
One of the key benefits is improved visibility and transparency across the supply chain.
Technologies such as RFID, GPS tracking, and real-time data analytics enable companies to track
the movement of goods and monitor inventory levels in real time, providing them with greater
visibility into their supply chain operations.
Another benefit of technology in supply chain management is improved efficiency and
productivity. Automation technologies, such as robotic process automation (RPA) and
warehouse management systems (WMS), help companies streamline their processes, reduce
manual labor, and increase operational efficiency. This not only saves time and resources but
also reduces the risk of errors and delays in the supply chain.
Furthermore, technology enables companies to optimize their inventory management and
demand forecasting. Advanced analytics and machine learning algorithms help businesses
analyze historical data, identify patterns, and make accurate predictions about future demand.
This allows companies to optimize their inventory levels, reduce stockouts, and minimize
carrying costs.

Challenges of Technology in Supply Chain Management

Despite the numerous benefits, the use of technology in supply chain management also
presents certain challenges. One of the main challenges is the cost of implementing and
maintaining technology solutions. Many businesses, especially small and medium-sized
enterprises (SMEs), may struggle to afford the high upfront costs of technology implementation
and ongoing maintenance.
Another challenge is the complexity of integrating different technology systems within the
supply chain. Many companies use a variety of software applications for different aspects of
their supply chain operations, such as transportation management, warehouse management,
and inventory control. Integrating these systems and ensuring seamless data flow can be a
complex and time-consuming process.
Furthermore, cybersecurity threats pose a significant challenge to technology use in supply
chain management. As companies rely more on digital technologies and cloud-based solutions,
they become more vulnerable to cyberattacks and data breaches. Protecting sensitive supply
chain data and ensuring the security of digital infrastructure are critical challenges for
businesses.

Supply chain management technology

1) Big data:- Big data is high-volume and/or high-variety information that enables
enhanced insight, decision making and process automation. Data analytics is the science
of analysing raw data in order to make conclusions about that information. Many of the
techniques and processes of data analytics have been automated into mechanical
processes and algorithms that work over raw data for human consumption. Until
relatively recently, the lack of capabilities around manageable data hindered better
informed value-based decision making and proactive risk management efforts. But
Organisations today have a host of new technologies to help with procurement, supply
chain risk management, and S&OP.
2) Tech Data & analytics:- Advanced analytics helps to provide insights into supply chain
operations, enabling organisations to identify inefficiencies and make improvements.
3) Robotics Process Automation:- RPA can automate manual and repetitive tasks, freeing
up employees to focus on more strategic tasks. Robotics is revolutionising the supply
chain and delivering huge value.
It improves speed and accuracy of operations, particularly in warehousing and
manufacturing. Robots also increase worker productivity, reduce error rate, cut pick-,
sort-, and storing-times, and increase access to difficult or dangerous locations. And with
the current labour problems robots are shaping up as the last-mile workers of the
future.
4) AI & ML :- Artificial Intelligence and Machine Learning can help in automating processes,
reducing costs, and improving operational efficiencies. According to a recent IBM
 Cognitive Computing Study, 92% of outperforming manufacturing executives say AI and
cognitive computing will enhance performance.
Advances in AI will tie everything together, including supply chain management,
enterprise resource planning systems, smart factories, and autonomous warehouses.
Supply chain leaders and their teams are making complex decisions on-the-fly based on
data-driven AI and ML solutions. Artificial intelligence is 'umbrella concept.
5) Cloud computing :-Cloud computing technology allows supply chain organisations to
store and process large amounts of data, making it accessible from anywhere at any
time.
In future this technology can be used to improve SCM of companies. To increase efficiency
and productivity of companies.

Future Trends in Technology Use in Supply Chain Management

Looking ahead, several key trends are expected to shape the future of technology use in supply
chain management. One of the most significant trends is the adoption of advanced technologies
such as artificial intelligence (AI), blockchain, and the Internet of Things (IoT). These
technologies have the potential to revolutionize supply chain operations by enabling greater
automation, transparency, and efficiency.
Another important trend is the focus on sustainability and environmental responsibility in
supply chain management. Technology can play a crucial role in helping companies reduce their
carbon footprint, minimize waste, and optimize transportation routes to lower emissions. As
environmental concerns become increasingly important, businesses are likely to invest in
technology solutions that support sustainable supply chain practices.
Furthermore, the rise of e-commerce and omnichannel retailing is driving the demand for more
agile and flexible supply chain solutions. Technology will play a key role in enabling companies
to meet the ds of modern consumers by providing faster delivery times, seamless order
fulfillment, and real-time visibility into inventory levels.

Conclusion
In conclusion, the use of technology in modern supply chain management offers numerous
benefits, including improved visibility, efficiency, and inventory management. However, it also
presents challenges such as high costs, integration complexity, and cybersecurity threats.
Looking ahead, advanced technologies and a focus on sustainability are expected to shape the
future of supply chain management. Businesses that embrace these trends and invest in
innovative technology solutions will be better positioned to compete in an increasingly complex
and dynamic global marketplace.