With the progress in technology gaining importance with the passage of time, it is also affecting every part of a company severely. The supply chain management space has been witnessing emerging trends in technologies continuously. Due to this reason companies have realized the significance of keeping up with the trends in the market, analyze the technologies with its implementation to reach the business goals. This proves highly beneficial in making the processes more efficient to cut excess costs, optimize the allocations in capacity and finally increasing customer satisfaction.

The existence of supply chain management dates back to the early stages of humankind when the trading of goods and services had commenced. The prime objective was to maximize as much as profit through the matching of demand and supply and has remained unchanged other than the way organizations meet demand. As customers’ demand is on the rise and technology is advancing rapidly, organizations are using advanced algorithms to fulfill the demand with new delivery methods like drones and 3D printing.

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The Internet of Things also plays an important role as it connects multiple physical devices like smart thermostats and smart televisions and enabling them to send or receive data wirelessly. There are various retailers that have built IoT order buttons that, with a push of the button can easily place an order. Cloud services are also used daily to share and retrieve videos, documents, and images often without their realizations. It helps in the implementation of big data and software services but there are also supply chain challenges in assuring the full availability in leveraging the cloud. The supply chain market is uncertain and volatile in today’s digital age and there is a lot to be done to meet the challenges in the future.

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