Posted: September 19th, 2022
Previously we discussed Porter’s five (5) competitive forces; supplier power, buyer power, competitive rivalry, new competition entrants, and the threat of substitute products.
Select and discuss only one (1) of these competitive forces in terms of technology. What role (or influence) does technology play in the application of competitive forces?
For example, supply chain management (SCM) or inventory management software and cloud deployment has made suppliers leaner and consequently provides them with more efficient ways to attain and deliver materials to their customers worldwide. This gives suppliers an opportunity to reduce costs to their customers. Therefore, it can be concluded that supplier power should be diminished somewhat. However, this would only be possible if suppliers pass on savings to their customers.
You can see how this scenario can lead to a robust discussion pertaining to supplier power, supply and demand models, and technology.
Note: 300 words with intext citations and 2 references must needed.
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