Information Technology Paraphernalia for Supply Chain Management Decisions

Abstract

Technology and world around have always been advancing time to time. One can speak of diverse areas to show how important IT is in daily business life, and of much Supply chain is one such area with more scope for Information Technology (IT) and has become a determinant of competitive advantage across the organizations. In order to survive in today's competitive environment the firms need to manage the future supply chain. In order to deliver quality information to the decision-maker at the right time and in order to automate the process of data collection, collation and refinement, the companies have to make IT an ally, harness its full potential and use it in the best possible means. IT is beneficial for cooperation and integration within the stakeholders of the supply chain. The chapter throw a light upon the stature of various technology based Tools in Supply Chain Management (SCM). The study also highlights the contribution of technology in helping to restructure the entire supply chain process to achieve higher service levels, lower inventory and the supply chain costs.