Adopting Electronic Product Code (EPC) Technology: EPC technology enables individual products or pallets to be uniquely identified and tracked throughout the supply chain. This will provide a centralized platform for managing inventory levels, order fulfillment, and demand planning.Ĥ. Implementing ERP Software: Coca-Cola should consider implementing an Enterprise Resource Planning (ERP) system to integrate their inventory management with other key business processes. This data can be used to optimize inventory levels, automate replenishment processes, and ensure timely delivery.ģ. Utilizing Internet of Things (IoT): Coca-Cola can leverage IoT devices to collect and transmit data from their inventory, vending machines, and distribution centers. This would enable real-time tracking and monitoring of inventory levels, allowing for more accurate planning and forecasting.Ģ. Implementing a Digital Supply Chain: Coca-Cola should embrace digitalization and leverage technologies such as RFID, GPS, and sensors to transform their supply chain operations. In order to improve their inventory management policies, Coca-Cola could consider adopting the following strategies and technologies:ġ. Partners, digital supply chains enable business process aut. Models, which have resulted in rigid organizational structures, inaccessible data, and fragmented relationships with Today, technologies such as RFID, GPS, and sensors haveĮnabled organizations to transform their existing hybrid combination of paper-based and IT-supported processes supplyĬhain structures into more flexible, open, moving fast, and collaborative digital models. Digitalization has touched upon all aspects ofīusinesses, including supply chains and operating models. In the future theĬoncept of digital supply chain management plays an important role. Improvements which are practiced to stay ahead in market but digital innovation redefine the market. (1½ theory, 1½ application)Ībstract: Innovations capture imagination, motivate people and improve quality of life.
Answers to: Advise Coca-Cola about the inventory management policies they could adopt in their logistics operation.