Answer to Question #202986 in Management for Sibusiso Dlamini

Question

·        Sharing of technology between buyer and supplier companies. (5 marks)

·        Joint education and training efforts. (5 marks)

Answer 1

Sharing of technology between buyer and supplier companies

This research targets to investigate the function of information technology in facilitating customer-supplier relationships in the nation's economy. Everything always traces the interlinkages between the various industries of this industry – brokerage apartments, retail banks, societal banks, index funds, insurance underwriters, and others – and helps to identify the roles that information technology and electronic service delivery can play in facilitating and facilitating based on cross assimilation across the divisional organization (Poli and Federica., 2019). It also outlines the opportunities and challenges to these connections that are being driven, in large part, by the steady pace of technological change. These findings will inform financial services managers in analyzing the opportunities and assessing the dangers of strengthening partnerships through electronic transactions. Customer service interactions are relevant to the supply chain in a variety of ways (Dahlmann et al., 2019). A manufacturer is in the middle of the supply chain, developing items or services distributed to distributors, retailers, and consumers. These relationships are improving in novel ways as a result of the rapid advancement of digital technology. Automation and artificial intelligence are being used in new types of technology to adapt to clients' unique preferences. As these technological advancements foresee customer and supply chain needs, manufacturers will connect with clients in novel ways. Digital marketing can also be used to keep clients up to date on new services, resources, or goods. As a result, anybody in the supply chain can stay up to date on the latest innovations from their manufacturer. Promotional obligations are automatically fulfilled by automated procedures that contact clientele (Scekic et al., 2018). As it caters to the needs of stakeholders, AI manages the personalization component. Consequently, the two enable real-time data gathering and processing, which the systems generate for use by the manufacturer. Producers can then use the data to create meaningful marketing steps and deal with customers in relevant and household characteristics.

Joint education and training efforts

The industry will undergo significant changes because of the 4th industrial revolution. Although technology is expected to displace workers, it will also create new jobs (Oke et al., 2020). Developing occupations are anticipated to be preferentially centered in real-world driving and cognitive categories, and they will necessitate abilities that can then be easily mechanized. This article contends that enhancing learnability – the reluctance and opportunity to understand, unlearn, and start learning – amongst some of the current and planned workforces is required to satisfy the skills requirements of the 4th industrial revolution. In this context, the research explores the impact of human resources development on both producers and consumers for skills. The study, in particular, describes developing trends in educational standards and highlights patterns among enterprises that require increased usefulness.

 

 

 

 

 

 

 

 

Work Cited

Dahlmann, Frederik, and Jens K. Roehrich. "Sustainable supply chain management and partner engagement to manage climate change information." Business Strategy and the Environment 28.8 (2019): 1632-1647. https://onlinelibrary.wiley.com/doi/abs/10.1002/bse.2392?casa_token=YhjE10PozXYAAAAA:YgOtaFMqVneAykfeVthlvSCxZ2latVSp_cGtUMTKBvqv_Smv8EgWUygYAXGu4z6LGKdB0QGQKDccKW-r

Oke, Adekunle, and Fatima Araujo Pereira Fernandes. "Innovations in teaching and learning: Exploring the perceptions of the education sector on the 4th industrial revolution (4IR)." Journal of Open Innovation: Technology, Market, and Complexity 6.2 (2020): 31. https://www.mdpi.com/2199-8531/6/2/31

Poli, Federica. "Co-operative Banking Networks in Europe." Palgrave Macmillan Studies in Banking and Financial Institutions (2019). https://link.springer.com/content/pdf/10.1007/978-3-030-21699-3.pdf

Scekic, O., Nastic, S., & Dustdar, S. (2018). Blockchain-supported smart city platform for social value co-creation and exchange. IEEE Internet Computing, 23(1), 19-28. https://ieeexplore.ieee.org/abstract/document/8536425/?casa_token=mKVRnx7pDywAAAAA:Ki4kiVGP6B8nnOy7iQFHPT59Yxm5pMMjROWqCWezGj4boBhKsNw7hPvfuuuID_VHMozyl5k7MAdd0jc