International Journal of Social Sciences and Management Review

THE ROLE OF ADVANCED TECHNOLOGICAL INNOVATION ON STRATEGIC SUPPLY CHAIN MANAGEMENT IN HEALTHCARE INDUSTRY

Author: Folake Esther Bankole

ABSTRACT

Advanced technologies show drastic improvement in the operations, shaping out the processes in a way that assists disentanglement of operational services with decision making, which improves the tendency of healthcare organizations towards their patients and brings back economy into the organizations (Kumar & Singh, 2023). In this regard, this study examines the role of advanced technological innovation on strategic supply chain management. Resourced-based theory was used to understand and explain how advanced technologies could improve healthcare service delivery. Quantitative approach to research was adopted whereby questionnaires were administered to healthcare professionals. Statistical methods of data analysis were applied by carrying out descriptive as well as inferential statistics. Pearson Moment Correlation Coefficient test was carried out to determine direction of relationship in the variables. It was discovered that, firstly, there is a direct, very strong and significant impact of advanced technological innovations on transparency of strategic supply chain management in the health industry. Secondly, there is a direct, very strong and significant influence of advanced technological tools on the decision-making processes and operational performance of healthcare supply chain. Lastly, there is a very strong and significant relationship between advanced technological in the healthcare sector and efficiency of service delivery. To this end, it was recommended that healthcare organizations should implement big data analytics and AI-powered tools to accurately forecast demand for medical supplies, optimize inventory levels, and reduce the risk of stockouts or overstocking. Secondly, the adoption of blockchain technology can improve data integrity, enhance traceability, and reduce the prevalence of counterfeit products in the healthcare supply chain. Lastly, IoT devices should be deployed to track medical supplies and equipment in real time, ensuring proper storage conditions and improving supply chain visibility.

Keywords: Advanced Technology, Healthcare, Industry, Supply Chain, Management.

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