The Use of Emerging Technology to Create Competitive Advantage Within the Business Environment

3011 WordsAug 23, 201213 Pages
The Use of Emerging Technology to Create Competitive Advantage within the Business Environment By Tim Dodd S664247 Table of Contents Pages Introduction 3 Emerging technology enhancing inter-organisational relationships 3-4 Emerging technology creating more integrated supply chains 5 Efficient procurement processes through the use of emerging technology 6-7 Creating a culture that complies with technological procurement processes 7-8 Conclusion 8-9 References 10-11 Introduction In today’s business environment, it is essential that companies adopt processes that incorporate various forms of technology in order to be competitive within the market.…show more content…
Inter-organisational relationships have improved as a result of an increased level of perceived transparency. When a buyer allows a supplier to become familiar with the buyer’s own operations, it is referred to as transparency (Lamming, cited in Icasati-Johanson & Fleck, 2003). The use of e-procurement has seen an increase in transparency. Until just recently, transparency was considered unfavourable (Lamming et al, cited in Icasati-Johanson & Fleck, 2003) however businesses are now using it as a sign of their commitment to the supplier. Many businesses are now working together to create technological systems that promote the free sharing of information. By increasing the visibility and transparency amongst supply chain partners, businesses are able to demonstrate their commitment. This helps build trust, which is essential for creating highly functioning inter-organisational relationships. Emerging technology has made collaboration throughout the supply chain more accessible. Without web-based technologies the required level of collaboration needed to provide significant benefits, would not be possible (Riggins & Rhee, cited in Icasati-Johanson & Fleck, 2003). By using various information and communication technologies, businesses are able to combine efforts on achieving objectives that would previously be unattainable if alone (Mohr & Spekman, cited in Icasati-Johanson & Fleck,
Open Document