Emerging technology and trends are reshaping the landscape of e-business and supply chain management almost more rapidly than the public can keep up.
The public demands faster and better ways of doing e-business and businesses are happy to oblige with as many gadgets as they can put out. Not every piece of technology that comes out is worth the wait, but many items are very interesting and make life fun and appealing for many people. Keeping up with new technology is very expensive, so it is important for businesses to know which technologies to invest in.The effect these technologies have varies greatly, depending on the type of technology. These technologies can have immediate and commercially viable applications that improve the quality of current goods or reduce their cost.
Others go in a completely different direction (Emerging, March 2011). Some of the technologies on the forefront are radio frequency identification (RFID), enterprise resource planning (ERP), and other information technology. RFID RFID is not a new technology. The first patent for an active RFID tag with rewritable memory was on January 23, 1973.
Later that year a California entrepreneur received a patent for a passive transponder RFID that would unlock a car door without using a key. These were the first examples of RFID that would become hugely vital to the way people lead their lives (Roberti, n. d. ).
RFID plays a major role in the supply chain management process but has yet to reach its full potential. New and emerging technologies are starting to rely more heavily on RFID for a number of things. RFID tags have the ability to store data that can be changed, updated, or even locked. RFID tags are used to track merchandise for stock purposes and loss prevention (Bonsor & Keener, n. .
).With one quick scan a delivery person can see how many boxes are in a case, how many cases are on a truck and where the truck is located on its rout all through the use of one or two RFID tags. ERP ERP integrates and automates many business practices associated with the operations or production aspect of the organization. Many of these aspects include manufacturing, logistics, distribution, inventory, shipping, invoicing, and accounting. This software aids in the general running on the company like sales, delivery, billing, production, and so forth.
Many of these tasks can be labeled back office systems meaning they are activities not commonly seen by the customer (Papazoglou & Ribbers, 2006). The more systems an organization can automate, the more time employees can free up and direct toward customer service. ERP also helps eliminate costs and minimize overhead. ERP also helps lead into the last subject of going paperless or near paperless using information technology. Information Technology and Paperless Information technology encompasses all forms of technological advances used to create, store, exchange, and utilize information (Entrepreneur, n. d.
).It is hard describe what information technology is yet it is even harder to not know what it is. It is everything that enables an online business to do business: the development, implementation, and maintenance of computer hardware and software to organize and communicate information electronically (Dictionary, n. d.
). With the combination of ERP and information technology many organizations are choosing to go green with paperless. This is not just a new age hippy movement, this enables an organization to electronically file paperwork with more precision and free up office space from fire-hazardous filing cabinets.This is not only a green method of doing business it is a way of attracting more customers. The better an office appears, the more a potential client will want to stay. Appearances are everything in such a shallow society.
All of this is done while saving money on paper, printers, ink, and printer maintenance. Conclusion Technology is always evolving and creating challenges and opportunities for e-businesses. These technologies and trends are both beneficial and a hindrance. Companies may find it difficult to keep up the pace with technology and the trends they set.Technology costs money to stay current, but when it is spent wisely, the rewards are well worth the effort.
The technology makes it easier for customers to navigate e-stores and make higher profits a reality to e-business owners. The effect technology has on e-business and the world varies greatly, depending on the type of technology. They improve the quality of goods or how the goods reach the consumer or the changes in technology reduce the cost of goods. Some technology changes result in new products altogether (Emerging, March 2011). These effects can be immediate or take years to occur, but the point is that they do occur.
