Shaping Global Economic Prosperity: The Role of Policy Driven and Technology Enhanced Supply Chains
Abstract
Today’s global economy gives much importance to supply chain performance, reliability and, sustainability. Once viewed as tactical enabler, supply chain is now recognized as an essential approach to economic development, creation of a new value, and company competitiveness. In this article, the author aims to discuss the opportunities of using policy driven and technologies supported supply chains from global perspectives and the improvement of sustainable economic development. Political systems are particularly significant in influencing the manner in which supply chain activities are conducted, and in encouraging partnerships that help meet new international challenges like sustainability, equity, and supply chain resilience. At the same time, technologies like Artificial intelligence, blockchain, Robotics and IoT are bringing major shifts to the supply chain- they are transforming it into a more predictive, transparent and efficient business utility. Drawing from the analysis of policy-technology relationship, this article brings out policy and technology factors that can improve supply chain efficiency and minimize risks as well as create new value. Examples include digital trade platforms as well as green logistics which are some of the changes occasioned by progress in these areas. However, they include; the current issue of digital divide, security risks and issues to do with the natural environment before the benefits accruing from it are maximized. Based on the discussions made in this article, the author opines that adopting proper policies and utilizing technologies in supply chain management makes this important link an enabler of sustainable, resilient and inclusive economic growth around the world as a way of creating prosperity of all stakeholders.
Keywords
Supply Chain Transformation, Policy-Driven Innovations, Technology Integration, Blockchain in Supply Chains, Artificial Intelligence (AI)
Citations
IRE Journals:
Tawakalit Ibiyeye , Arisekola Abideen Olayinka
"Shaping Global Economic Prosperity: The Role of Policy Driven and Technology Enhanced Supply Chains" Iconic Research And Engineering Journals Volume 8 Issue 6 2024 Page 1-14
IEEE:
Tawakalit Ibiyeye , Arisekola Abideen Olayinka
"Shaping Global Economic Prosperity: The Role of Policy Driven and Technology Enhanced Supply Chains" Iconic Research And Engineering Journals, 8(6)
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