Which of the following is the key benefit obtained by using technology in supply chain?

The key benefit of using technology in supply chain management is the ability to handle invoicing and payment processes online, which significantly improves the cash-to-cash cycle time. This enhancement brings several advantages:

Faster Transactions: Online invoicing and payment processing speed up financial transactions, reducing the time between paying for raw materials and receiving payment for finished goods.

Improved Cash Flow: Quicker cash flow improves liquidity and provides better working capital management.

Reduced Errors: Automated processes reduce the risk of human errors associated with manual invoicing and payments.

Enhanced Visibility: Real-time tracking and reporting of financial transactions provide better visibility and control over the supply chain finances.

References:

Hugos, M. H. (2018). Essentials of Supply Chain Management. Wiley.

Jacobs, F. R., & Chase, R. B. (2018). Operations and Supply Chain Management. McGraw-Hill Education.