Running head: INFORMATION SHARING1Information Sharing in Supply Chain ManagementName:Institution:INFORMATION SHARING2Information Sharing in Supply Chain ManagementLotfi et al. (2013) acknowledge the need for information sharing, as the competition inthe modern market intensifies. In the recent past, there has been collaboration among tradingpartners. The strong collaboration between supply chain partners has been instrumental insustaining a competitive advantage among companies. Ideally, companies need to focus onbroadening their area of analysis and decision making, which encompasses not only singlebusiness units, but also the supply chain. The article reveals that the supply chain entails threeimportant flows, which include material, information, and finance. Therefore, there is a need tomanage coordination and integration of these flows across companies is significant in creating aneffective supply chain management system. It is inferred that information sharing is effective inthe coordination of the supply chain. Several studies have noted that information sharing greatlyimpacts the supply chain performance. Essentially, information sharing is critical to makingbetter decision, thus promoting effective utilization of resources and lowering the supply chaincosts. The advancement of ICT has provided a massive opportunity for businesses to shareinformation. The growth of the internet provides an opportunity to transfer digital data instantly,helpi ...
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