Impact Of Technology Disruption On Supply Chain Management
Industry 4.0, commonly referred to as the fourth industrial revolution, comprises cyber-physical systems, internet of things, cloud computing and cognitive computing. One can take economics tuition from an experienced economics tutor to learn the concept of industrial revolution. The technology advancement/breakthrough in these areas have brought about revolutionary changes to the way we conduct our business across the globe. In this article, I will focus on the opportunities and challenges faced by supply chain management service providers in Singapore and the region.
Home-grown company, YCH Group is among the pioneers who recognise the significance of manufacturing technologies and the very few able to embrace them to reinforce their competitive edge in supply chain management. By harnessing the power of technology, it strives to be disruptive in order not to be disrupted. Today, YCH is widely regarded as the leader in supply chain management in the Asia Pacific region and beyond. Its iconic Supply Chain City features patented world pioneering Fusionaris design which enables 84% space saving and 95% improvement in efficiency. It is supported by SCTower, a smart machine organism that monitors, tracks and processes data to generate meaningful information to further enhance productivity.
Greater Inter-connectivity
The greater inter-connectivity brought about by the industrial revolution has presented supply chain management service providers around the world with unprecedented opportunities. It has opened up the gateway for them to tap on the huge markets in China and the rest of the world. Alongside business opportunities, Industry 4.0 also presents businesses around the world with challenges, IT security and manpower, just to name a few.
Economics tuition providers in Singapore face similar opportunities and challenges in today’s digital age. Many of these economics tuition providers have learned to harness the power of technology in order to gain a competitive edge amidst the increasing competition. Mr Edmund Quek, principal economics tutor of Economics Cafe Learning Centre, one of the best economics tuition centres in Singapore is among the few who incorporate technology into their teaching. Visit this economics tutor’s website to find out more about his teaching methodology.
Impact Of Technology Disruption
Technology disruption has forced businesses around the world to review their business models. The resounding success of Alibaba and JD.com is testament to this irreversible trend. Brick-and-mortar businesses will continue to exist, but with a much-reduced presence. Automation and robotics will displace a large number of workers in the work place. However, those equipped with knowledge, technology and skills will be in demand.
The fundamental role of supply chain management is to integrate seamlessly different supply chain activities of buying, making, moving and selling. Modern world of supply chain and logistics management enables automated inventory management, production planning and sales forecasting. On top of this, big data and analytics make it easier for businesses to adapt to the changing needs of customers in their respective markets. The various players along the supply chain, eg, buyers, processors and suppliers are able to share data and benefit from the centralised data and common platform.
The opportunities lie in significant improvement in efficiency and productivity, reduced dependence on labour, etc. The major threat, in my view, is the IT security risk. Disruption of business and loss of key information in the event of cyber-attacks could be another one. It is important for businesses, including economics tuition providers to fully capitalize on the opportunities presented and minimize the risks. Mr Edmund Quek, a renowned economics tutor with vast experience in teaching economics tuition has stepped up efforts in IT security to safeguard his students’ data. If you are looking for a good economics tutor, visit his website at www.economicscafe.com.sg today to find out more. Students who sign up for his economics tuition will receive a free copy of his best-selling books.
The changing consumer needs and behaviours have an impact on buying, making, moving and selling of goods along the supply chain, as well as the information, financial flow. Supply chain management service providers are particularly affected by the moving, that is how the products are transported from point to point. Those who demonstrate greater agility will be able to adapt to the changes promptly to handle, process and deliver a large quantity of goods with higher accuracy and efficiency.
Linda Geng
Economics Tuition Singapore @ Economics Cafe
Principal Economics Tutor: Mr. Edmund Quek