Abstract
The pandemic has devastated the whole economy with losing many human lives as well. The hard-hit aspect of the pandemic was gathering the people in public and working together in any industry. It has resulted in a deviation of planning in the supply chain and its related services. Technology adoption has dramatically changed many organizations' revenue patterns with high income on technology adoption and low income on non-adoption. The timeline of technology adoption was also the biggest concern for many firms because of restrictions on the people's movement. The research has been done on technology usage in different supply chain functions and its effectiveness in business performance. The chapter contents displayed the possible outcomes of the technology and its importance of adoption. The supply chain techno-umbrella has been portrayed as a saver of the pandemic during the non-revenue time. The chapter also described the various available forms of technology in the decision-making of the supply chain processes.
TopBackground
Supply Chain Management has played a significant role in delivering the products to consumers from multiple places and levels of manufacturers since the pandemic outbreak. The liberal usage of technology has been helping in achieving the expected flow of the processes in the supply chain. A generic supply chain diagram is being displayed in Figure 1.
Figure 1. Generic supply chain model
Key Terms in this Chapter
Supply Chain Efficiency: Efficient supply chains can deliver products at a low cost (Chandrasekaran, 2010 AU39: The in-text citation "Chandrasekaran, 2010" is not in the reference list. Please correct the citation, add the reference to the list, or delete the citation. ).
EOQ and ROP: Economic Order Quantity (EOQ) is an optimum order quantity to reduce the overall cost and Re-Order Point (ROP) is a quantity to be considered for replenishing an order.
Agility in Supply Chain: Supply chain agility refers to a company's ability to quickly adjust its strategy, particularly procurement, inventory management, and delivery, to meet changing supply chain requirements.
RFID in SCM: RFID information about products enables visibility in the supply chain by sharing information between supply chain partners.
Focal Company: The company which rules or governs the supply chain, provides the direct contact to the customer, and designs the product or service offered.
Techno-Umbrella: The word was coined by the authors which explains about the technology being an umbrella for all the processes especially during the pandemic time. Also, it acts as enabler and safeguarding the supply chain process during non-revenue times.
Supply Chain Responsiveness: Supply chain responsiveness has also been described as the capabilities of the supply chain to efficiently and effectively respond to the dynamics that affect the customers of an organization by reacting swiftly to the market requirements that keep on changing (Gunasekaran et al., 2008 AU40: The in-text citation "Gunasekaran et al., 2008" is not in the reference list. Please correct the citation, add the reference to the list, or delete the citation. ).
Supply Chain Profitability: The difference between the revenue generated from the customers and the overall cost across that supply chain.