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Which of the following is the key benefit obtained by using technology in supply chain?
Correct Answer: C
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.