Emerging Technology and Trends

[Name of the Author]

Emerging Technology and Trends

Introduction

To become successful in highly dynamic environment, and compete with international markets companies, needs to be responsive to change. The company should be responsive at every level, while implementing new practices and technological advancements for achieving effective organizational performance in the long run. The environment surrounding, small and large enterprises, is influenced by technological advancement. This factor forces organizations towards redesigning of business strategy, structure and business orations for achieving organizational effectiveness. In the present-age highly competitive and challenging global environment, organizations need to put great emphasis upon achieving effective supply chain risk management. Supply chain risk management is the best and most effective strategy for achieving responsiveness and efficiency in the global markets. Managing supply chains is a challenging task due to the internal and external factors affecting the organization. The assessment of internal and external factors of the organization sets the basis for understanding the supply chain and managing it effectively. Organizations in the dynamic cell phone industry have learned good lessons from the disruptions in their supply chains (Kevin & Geoff, 2005).

Discussion

Long-term Relationship with Suppliers Supply chain efficiency can be achieved when there is long term and mutual relationship with suppliers. Suppliers are the integral part of the supply chain network. It is impossible to achieve supply chain efficiency if there are no long term and mutual relationships with suppliers. Building relationships has become a highly critical task for the organizations in order to ensure effectiveness and efficiency. The end goal of the organization and other business partners such as suppliers is to achieve customer satisfaction and profit maximization.

Enterprise Resource Planning

The current and future supply chain management practices show the trend of increasing usage of technology in supply chain management. It has become highly important aspect of the ...