Innovation and technology have a huge impact on the supply chain management of an organization. It helps the organization to manage its supply chain more efficiently. The following three tools help the organization in planning and collaboration in its supply chain: • Inventory Management: Inventory refers to the stock of the stock or stored goods that can be used later. The inventory includes raw material or finished goods. The Inventory management system helps the organization to manage the inventories throughout its supply chain as it optimizes the Multi-Echelon Inventory Decisions (Stock & Manrodt, 2020).