Role Of Information Technology In Supply Chain Management
ROLE OF INFORMATION TECHNOLOGY IN SUPLLY CHAIN MANAGEMENT-WITH SPECIAL REFERNCE TO FOOD AND GROCERY SUPERMARKETS IN PUNJAB AND CHANDIGARH
INTRODUCTION TO INFORMATION TECHNOLOGY
In 21st century the information technology has become a part and parcel of every person’s daily life. It has been defined as the century of advancement of and application of information technology which act as a change agent in different aspects of business and society. Generally speaking, information is defined as knowledge derived from experience, study or instruction. Technology is defined as a use of material tools and techniques and applications of knowledge to the practical aims of human life. So, information technology is defined as the use of computers and information
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Consumers have become discriminating in their choice of products and services. The pressure of competition has accelerated technology development lifecycles. Convergence has shifted the balance of power in favor of consumers by giving way to integration of economies. In today’s world all the companies want to increase competitive advantage which is possible through supply chain management. To remain competitive, companies must seek new solutions to supply chain management such as load planning, route planning, modal analysis, and distribution and network design. Supply chain management has a very important role in moving goods more quickly from source to the …show more content…
It links all the partners who include vendors, carriers, third party companies, information system providers in the chain, and all the departments within the organization. The customer is the key to both communicating and quantifying the supply chains value. Supply chain refers to the wide range of functional areas which include supply chain management related activities such as transportation, warehousing, inbound and outbound and inventory control. Sourcing, procurement and supply management are also fall under the supply chain management umbrella. The various processes of supply chain management are forecasting, production, scheduling, planning, order processing and customer service. Supply chain management also includes information system which is necessary to monitor all of these activities. The supply chain become more flourishing when there is advanced supply chain profitability. Supply chain profitability is the total profit shared from corner to corner all supply chain stages and
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