Daily Management Review

The Digital Supply Chain Challenges And Ways To Address Them


12/26/2017




The Digital Supply Chain Challenges And Ways To Address Them
Companies that are engaged in the business of retail trading need to make sue the ever-increasing number of online transactions are made faster, are more accurate and secure. And in order to achieve those, it is imperative that the chains that connect the dots of inventory and the selling websites, the customers and the offers made and the orders with fulfillment partners are solid and well oiled.
 
And this connection is made by IT in the world of the so called digital supply chain for retail sorts.
 
But in the case of interacting with consumers through the digital media presents a number of challenges. This is more applicable because of the very large number of transactions. According to data from Adobe Analytics, here had been a 18 per cent increase compared to a year earlier in the number of online transactions on Thanksgiving and Black Friday when the number topped a total sale volume online of $7.9 billion.
 
The concept of digital supply chains is based on the establishment of connections between customers and the multiple tech solutions which underpin e-commerce in contrast to the production supply chains which are formed on the basis of movement of raw materials and physical resources between suppliers, manufacturers and retailers.
 
Network, application and data connections are included in the digital supply chain. And the quality of digital supply chains is as good as the weakest link just it is with physical chains. And for enhancing of revenue, controlling of costs and protection of the brand, it is critical that the digital supply chain is efficiently managed even in the wake of more businesses transforming to the digital mode and as more customers and business transactions are shifted to the cloud. IT is able to attach the points to make sure end-to-end performance, reliability and security in addition to providing support to the individual digital links.
 
And despite this, IT does not have control of the many of these connections. Sometimes, they are even outside of the purview of the company’s control.  And thigs are made complex further because many of the software applications that comprise the digital supply chai are not owned by IT.
 
IT has assumed the role of a partner and is not only a supplier in modern business as they attempt to continue with direct acquisition of solutions. Therefore, for such business, there are budgets outside of IT as well. IT can help to purchase solutions which may be consistently related to the digital supply chain even while business demands are maintained, despite the fact that the budget belongs to the business unit.
 
While making sure that the solutions achieve their goals as expected, the time that is needed for integrating the new solutions is reduced by efficient management of digital technology solutions and converting businesses into smart buyers of cloud.
 
IT is potentially also able to offer a core set of requirements which can be followed by business units for purchasing solutions which cater to their own needs as well as those of the digital supply chain by the development of high corporate standards of security, data management and user experience.
 
Customers expect that the digital supply chain would function well and quickly irrespective of whether one is making an online purchase of a product or looking for customer support or completing a payment.
 
(Source:www.forbes.com)






Science & Technology

Scientists Discover Largest Ever Under Water Volcanic Eruption Near New Zealand

Bitcoin craze increased load on the power grid to the maximum

PC And Server Performance Slows Down Due To Security Patches For Chip Flaws, Says Microsoft

Cybersecurity Firm Claims Cryptocurrency Monero Might Be Getting Funneled To North Korea University

The Way We Travel Will Be Changed by The Colorless, Odorless Gas - Hydrogen

EU's Big Change In Data Protection Rules Makes Businesses To Get Ready For It

Artificial Intelligence Helps NASA Find An 8th Planet In Orbit Of A Distant Star

Australian Research Success Could Mean Shatterproof Cell Phones Could Soon Be A Realityv

Top ten hi-tech events of the year

Tesla Considering Designing And Developing AI Chips On Its Own To Support Its Auto-Pilot Project

World Politics

World & Politics

2017 Was Second Warmest Year Since Records Were Kept And It Had No El Nino Effect

France and Germany want to reform the eurozone

Take and go away: new approach to refugees in Europe

Both The Korean Countries Will Come Together In Olympic Talks

Parties of Germany agreed on the migrants problem

Munich Re: Natural disasters caused record damage in 2017

High-Level Talks To Be Held Between North And South Korea In Over Two Years

Sexually Abusing Children Interests An Estimated 20,000 British Men, Shows Police Monitoring Of Chat Sites