Supply Chain Management Technology Becoming Critical for Businesses

By Melissa Stanton

In a study conducted by Verdantix its estimated 45% of companies use paper for job hazard analysis and 27% still use paper-based systems to manage contractor information. More than ever technology is something businesses must embrace, yet more than half of the 161 companies surveyed still use paper to manage supply chain risk. The use of paper over digital technology leads to supply chain risk and loss of essential information. However with this in mind approximately 83% of executives see value in using technology to increase overall visibility of performance metrics. In a globalized economy it becomes increasingly difficult and complex to manage supply chains, making it critical to upgrade your business to maintain a competitive advantage.