The IoT and Sharing Economy in the Supply Chain Essay

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New Technology in Supply Chain ManagementApp-based technologies like Uber Freight have the potential to revolutionize the logistics and supply chain management industry. They offer a number of benefits such as increased efficiency, reduced cycle time, and greater flexibility in the supply chain. Pros include increased efficiency, improved visibility, and greater flexibility. For instance, app-based technology can help to increase efficiency by streamlining the supply chain and reducing the amount of time it takes to move goods from one point to another. It can also help to improve visibility into the supply chain by providing real-time tracking of shipments, which can help to reduce the risk of delays and improve customer service (Barua et al., 2021).The cons, however, are that app-based technologies rely on stable internet and cellular connections to operate, which can be a challenge in areas with poor network coverage. Plus, the use of app-based technologies in the supply chain can create security and privacy concerns, particularly when sensitive data such as product specifications or customer information is being transmitted. Moreover, the introduction of app-based technologies into the supply chain has the potential to disrupt existing business models and supply chain relationships, which can create resistance from stakeholders.

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…can help to increase transparency and traceability in the supply chain, while AI and IoT can help to automate and optimize supply chain operations.Ultimately, app-based technology such as Uber Freight has the potential to significantly reduce cycle time within the supply chain by increasing efficiency and improving visibility. However, there are also potential downsides to these technologies, including dependence on technology, security and privacy concerns, and the potential for disruption in the logistics industry. As new technologies continue to emerge, it will be important for businesses to carefully evaluate the benefits and drawbacks of each technology before implementing them in their….....

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Latest APA Format (6th edition)

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"The IoT And Sharing Economy In The Supply Chain" (2023, February 14) Retrieved May 5, 2024, from
https://www.aceyourpaper.com/essays/iot-sharing-economy-supply-chain-2178753

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"The IoT And Sharing Economy In The Supply Chain", 14 February 2023, Accessed.5 May. 2024,
https://www.aceyourpaper.com/essays/iot-sharing-economy-supply-chain-2178753
   

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