In preparation for the strategic planning meeting, what technology risks must Vic think about?

Explanation
The technology risks for the supply chain are as follows:

The implementation process of any new technology requires huge investments. The company needs to analyze the investment costs versus the benefits it can derive in the long run.
The executives and the managers must realize the purpose of implementing the technology. They should align the objectives and goals of the organization with the technology. A proper alignment of the technology may provide a competitive advantage to the organization.
The organization must not try to rely heavily on technology for the supply chain process. If the organization depends too much on the technology and some error occurs, the whole functioning of the supply chain might get disturbed, resulting in heavy losses for the organization.
Sample Response
Individual V can consider the following risks associated with technology in the supply chain:

The cost associated with initial investments in technology.
The alignment of technology's benefits with goals and objectives of Company I.
To avoid making the supply chain network more complicated by depending too much on technology.

Answer:

As Vic prepares for the strategic planning meeting, it's crucial to consider the following technology risks associated with the supply chain:

1. Costs of Technology Implementation:
   • Assess the substantial investments required for implementing new technology. Conduct a thorough analysis of the costs versus the long-term benefits to ensure a strategic and financially sound decision.
2. Alignment of Technology with Organizational Goals:
   • Ensure that the objectives and goals of the organization align seamlessly with the implemented technology. A proper alignment can provide a competitive advantage, contributing to the overall success of Company I.
3. Overreliance on Technology:
   • Guard against overdependence on technology for the supply chain process. Heavy reliance poses a risk, as any technological error can disrupt the entire supply chain, leading to significant losses for the organization.

By addressing these technology risks, Vic can make informed decisions during the strategic planning meeting, fostering a more resilient and effective supply chain management system for Company I.