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Supply Chain Management - Assignment

   

Added on  2021-04-21

8 Pages1249 Words41 Views
Business Development
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Running head: SUPPLY CHAIN MANAGEMENTSupply chain managementName of the studentName of the universityAuthor note
Supply Chain Management - Assignment_1

1SUPPLY CHAIN MANAGEMENTIntroduction Technology plays an important role in the contemporary business scenario. This is due tothe fact rapid development in the business sector helps in enhancing the effectiveness of theentire business process. This is applicable in the case of the logistic sector also. In the recenttime, there are various newer and updated technologies being initiated in the logistic sector. Oneof the major technological advancement in this sector is the initiation of the block chain. Thistechnology is changing the existing process and approach of the supply chain management andlogistics. This essay will discuss about the effectiveness and the benefits of the initiation of blockchain technology in the logistic sector in relation to the global scenario. Initiation of the block chain According to the report published in the tandlnews.com.au, block chain technology isbeing initiated by a consortium consisting of some leading companies in the global logisticsector. They are AB InBev, Accenture, APL and a European customs organization. This keyobjective of this technology is reducing the time and resources consumed in the transferring ofthe paper shipping documents in the international business (www.tandlnews.com.au, 2018). Onthe other hand, initiation of the block chain technology will help to have an online platform forthe transfer of the data and required documents and this it will save the time involved in theinternational business. it is estimated that the successful implementation of the block chaintechnology will help the transports businesses in the international business to save millions everyyear.
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2SUPPLY CHAIN MANAGEMENTBenefits of block chain technology According to Korpela, Hallikas and Dahlberg (2017), one of the major benefits of theinitiation of the block chain technology is the reduced used of the paper based documents. Theauthors have stated that block chain technology in the logistic sector basically use the onlinemedium to transfer data instead of the traditional way of paper based documents. According tothe authors, initiation of the block chain technology will also help in reducing the associated riskwith the transferring of the paper based documents. In the case of the transfer of the paper baseddocuments, major part of the documents can be replicated and duplicated. However, on the otherhand, having the online medium will reduce the probability of the duplicating the documents.Thus, it is concluded by the authors that block chain technology should be implemented in theglobal basis in order to have the maximum benefits. Sustainability in the logistic sectorSustainability is one of the major criterions in the contemporary business scenario. This ismainly due to the reason that business processes should be sustainable enough in order to survivethe current business factors and challenges. According to the Oberhofer and Dieplinger (2014),the most important area of improvement in the current logistic scenario is the lack ofsustainability. The authors have also stated that technology is comparatively outdated in thelogistic sector due to the complexities associated with this sector. In this case, initiation of theblock chain technology will be more beneficial for the entire logistic and supply chain industry.There are few ways being identified, through which the sustainability of the logistic sector can beenhanced.
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