Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

make a comment on this: According to the lecture, Markus Mutz's work focuses on utilizing technology to increase supply chain transparency and traceability, especially when

make a comment on this: According to the lecture, Markus Mutz's work focuses on utilizing technology to increase supply chain transparency and traceability, especially when it comes to ethical and sustainable production. His startup, Open SC, provides verifiable information about the origin and manufacture of items in an effort to alter the way consumers make decisions. Mutz's strategy, in my opinion, is admirable and tackles important problems in the consumer-driven society of today. The incorporation of technology to authenticate, track, and disseminate data regarding the manufacturing procedure might enable customers to make knowledgeable choices according with their principles. This puts pressure on producers to embrace ethical and sustainable practices in addition to promoting responsible consumer behavior. There are a lot of different areas where the idea of using technology to improve supply chain transparency and traceability can be used. It may be used, for instance in the lumbering business, enabling customers to track the provenance of their furniture items and make sure they are sourced ethically and responsibly. This traceability could help furniture makers like IKEA avoid patronizing lumbers sourced in world zones where unlawful falling of trees and use of child laborers prevalent. Moreover, there is wider relevance to Mutz's idea of using algorithms in the decision-making process. The concept of letting algorithms make product decisions based on personal beliefs can be used in a variety of settings, such as social responsibility and environmental sustainability. This strategy might alter customer behavior more broadly, swaying decisions in favor of goods and practices that meet broader societal and environmental standards. In conclusion, Markus Mutz's effort has the potential to revolutionize the way we approach consumer decisions and to serve as a model for comparable applications in a variety of industries where ethical and transparent standards are critical

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Risk Management

Authors: Clive Thompson, Paul Hopkin

6th Edition

1398602868, 978-1398602861

More Books

Students also viewed these General Management questions