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Emerging Technologies In Business

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Question:

Discuss about the Emerging Technologies in Business.
 
 

Answer:

Introduction

The following assignment is about the use of technology in the business industries. The business industries have been adopting various technologies because the emerging technologies have catered to the improvement of the industries by making it secure, fast and easily accessible. In this industry the chosen industry is the transportation industry that has been very important over the ages. It has been providing all types of vehicle communication for people for going from one place to another. The use of technology would improve the scenario of providing better service to the daily commuters as they face lot of troubles in this case.  The technology chosen here is the RFID technology that helps to track anything. This would surely advance the industry and provide a lot better service to passengers as the authority would be able to track the location of the vehicle using a small chip. The adoption of this RFID technology would enhance DHL transportation industry for betterment.

Business Justification for the use of Technology

In the past five years the advent of technology has changed a lot in the scenario of the transportation industry (Camacho, Foth & Rakotonirainy, 2013).  

The use of Internet of Things (IOT) has provided the industry with the high integrated ‘Transportation and Warehouse Management Solutions’ that would connect sensors inside the vehicle (Miorandi et al., 2012). The vehicles that emit poisonous gases from their engines have been using eco-friendly systems that do not emit any gases. This saves a lot of pollution in the environment though. They would get benefits as they do not have to hire new trained employees by paying them higher wages (Konings & Vanormelingen, 2015).  

In this context DHL transportation has been chosen to discuss the matter. It is based in Bonn, Germany. They would use technology to better their customer service and reduce transport costs by a good margin. They could use the Radio-frequency Identification (RFID) i.e. a chip. It will help to track the trucks of DHL Company.

They can use this chip in their trucks by fixing it inside. They can keep in track of their tracks where it has been going and if it has delivered the goods at the proper place. It can also be assessed whether their vehicles have faced any accident. They would surely get return on investment from implementing this technology (Phillips, 2012). It will increase their competitive advantage over their rival companies as their vehicles would be more secure than others (Wagner & Hollenbeck, 2014). DHL, being a global logistics giant, has taken a firm hold over the perennial issues like the return on investment. They have decided to go for cost effectiveness over cost reduction so that they can arrange growth sustainability. They follow the words ‘Simplify and you will multiply ’("DHL | Investor Relations | English", 2017) Besides exploring optimized transport routes and new drive vehicles, they are eyeing on a pollution free country where CO2 emissions can be controlled. They have settled certain strategies for that and it will cater to their ‘Go Green’ mission (Tayefeh, 2016) Their target is to offer the customers a broad range of green products and environment friendly vehicles. They have also fixed strategies to provide their customers with ‘total solutions’ (Christopher, 2016). They will define the areas of concern, define specified activities, prioritize among the activities, implement them and controlling them for their success. They have invested their attributes in different areas like motorsports, sports, music and arts, fashion and lifestyle. These investments have given them good reputation (Saeidi et al., 2015). The different initiatives taken by them have also placed them above their competitors on the competitive advantage basis.  The suppliers will also be benefitted by providing such RFID chips (Sun, 2012). The return on investment factors have proven to be very helpful as they have targeted for cost effectiveness.

 

Future prospects for the technology

In future, the technology of RFID can be used to tag every product for delivery so that the organization’s managing authorities of the logistics managers can zoom the scanner o get instant and accurate count of their inventory. These details comprises of the accurate details of the product’s weight and quality information. In future, DHL also use RFID technology by incorporating the manufacturing innovations like fitting of printed sensors, printed batteries and thin-film photovoltaic solar cells (Amendola et al., 2014). In this way, they can print their own RFID technology. Another technology that can be implemented in logistics is to use the RFID tags having high memory at lower costs. The data that is stored in the RFID tags can also be connected with the cloud technology so that larger amount of the transportation details can be stored and manipulated.

Zalbide et al. (2014) argues that the concept of barcodes is growing so much that the implementation of RFID is not much popular. However, Zhang et al. (2015) also depicts that but RFID technology offer accurate information that the right goods are available in the right place with zero errors. This improves the efficiency and reliability of the entire chain. However, in future the technology of FMCG (fast moving consumer goods) can also be utilised by the concerned organization. In addition to that, the concept of RFID can be used in other industry like manufacturing industry. RFID is also used in warehouse processes, in tracking and managing of shipping containers and in distribution process.

However, I feel that DHL use the technology in every area where they should apply it. Zhang et al. (2015) highlighted one of their technology that is temperature sensing especially for pharmaceutical products delivery. Zalbide et al. (2014) moreover depicts that the RFID tags are also connected so that all the updates can be receives through SMS or e-mail in real-time. Even all the RFID tags are connected with their web portal and thus it allows the organization to offer user-friendly and quick status overview, temperature curve and histogram, tailored analysis functions as per as the requirement of the organization and report and analysing function (Amendola et al., 2014).

The two aspects that can be considered as an improvement area are- provision of customer convenience and streamline operations. Costa et al. (2013) explains that RFID provides a streamline solution in global supply chain. This streamline solution can be witnessed through lesser shrinkage of the products and timely delivery of the products. De Mel et al. (2016) on the other hand explains that this timely delivery also enhances the customer satisfaction and convenience. Moreover, since these RFID technologies are programmed and automatic, the probability for human error will never occur. Fan et al. (2014) also explains that barcode requires assistance of a human but RFID technology is fully automatic and performs all the work as per as the programs. Moreover, these programs can be customised and hence more customer satisfaction can be achieved as they will get all their desired specification though the RFID technology.

Conclusion

In the concluding part, it can be said that all the important things have been discussed as desired. The importance of applying technology in transportation industry has been discussed. It has been found that technology will help the transportation industry will grow and customer convenience could be achieved. The future prospects of using this technology have also been discussed in the course. In this matter, the DHL transport company has been taken as an example and the impacts on this company for using the RFID technology have been used so that the company can achieve good performances in the future times.

 

References

Amendola, S., Lodato, R., Manzari, S., Occhiuzzi, C., & Marrocco, G. (2014). RFID technology for IoT-based personal healthcare in smart spaces. IEEE Internet of Things Journal, 1(2), 144-152.

Camacho, T. D., Foth, M., & Rakotonirainy, A. (2013). Pervasive technology and public transport: Opportunities beyond telematics. IEEE Pervasive Computing, 12(1), 18-25.

Christopher, M. (2016). Logistics & supply chain management. Pearson UK.

Costa, C., Antonucci, F., Pallottino, F., Aguzzi, J., Sarriá, D., & Menesatti, P. (2013). A review on agri-food supply chain traceability by means of RFID technology. Food and Bioprocess Technology, 6(2), 353-366.

DHL | Investor Relations | English. (2017). Dhl.com. Retrieved 19 May 2017, from https://www.dhl.com/en/about_us/company_portrait/investor_relations.html

Fan, T. J., Chang, X. Y., Gu, C. H., Yi, J. J., & Deng, S. (2014). Benefits of RFID technology for reducing inventory shrinkage. International Journal of Production Economics, 147, 659-665.

Konings, J., & Vanormelingen, S. (2015). The impact of training on productivity and wages: firm-level evidence. Review of Economics and Statistics, 97(2), 485-497.

Miorandi, D., Sicari, S., De Pellegrini, F., & Chlamtac, I. (2012). Internet of things: Vision, applications and research challenges. Ad Hoc Networks, 10(7), 1497-1516.

Phillips, J. J. (2012). Return on investment in training and performance improvement programs. Routledge.

Saeidi, S. P., Sofian, S., Saeidi, P., Saeidi, S. P., & Saaeidi, S. A. (2015). How does corporate social responsibility contribute to firm financial performance? The mediating role of competitive advantage, reputation, and customer satisfaction. Journal of Business Research, 68(2), 341-350.

Sun, C. (2012). Application of RFID technology for logistics on internet of things. AASRI Procedia, 1, 106-111.

Tayefeh Noruzi, A. (2016). Green Logistics. A critical view of the environmentally-friendly measures in the transport and logistics sector.

Wagner III, J. A., & Hollenbeck, J. R. (2014). Organizational behavior: Securing competitive advantage. Routledge.

Zalbide, I., D'Entremont, E., Jiménez, A., Solar, H., Beriain, A., & Berenguer, R. (2014, November). Battery-free wireless sensors for industrial applications based on UHF RFID technology. In SENSORS, 2014 IEEE (pp. 1499-1502). IEEE.

Zhang, D., Huang, H., & Jo, M. (2015). Future RFID technology and applications: visions and challenges. Telecommunication Systems, 58(3), 193-194.

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