Technological development is the systematic use of scientific, technical, economic and commercial knowledge to meet specific business objectives or requirements. It relates to inventions or innovations. Development is essentially the process that takes a product or idea from a hypothesis to a usable product. More often than not, development is usually restarted after a product is finished, which is known as a prototype, which means it was a testing to determine if the technology was ready for regular usage.
Attributes of technology include:
1. Connectivity – it is the ability to exchange information with external supply chain partners in a timely responsible and usable format that facilitates inter-organisational collaboration.
2. Integration – It is a process of combining or coordinating separate functions, processes enabling them to interact in a seamless manner.
3. Visibility – it is the ability to access or review, pertinent data or information as it relates to the supply chain.
4. Responsiveness – the ability to react quickly to customers‘ needs/ specifications by delivering a product of right quantity at the right time, place and at the lowest possible cost.
5. Readily available data to managers or users and coordination of operations and all logistics data between supply chain.
6. Coordinating operations, marketing and logistics data coordinated within organisation members.