Changing Role of Supply Chain Management in Digital Economy

In the rapidly changing world – role of supply chain is constantly evolving. There are now at least three generations of supply chains and the confusion about the roles and expectations is leading to massive losses inside the corporations. Here are some insights and excerpts from my speech on this topic. You can see the video on Latest Advances in Supply Chain Management – a Keynote Speech. Everyone has a circle of influence – in LinkedIn, Facebook, Twitter, contacts and colleagues. If these ideas make sense to you, share them far and wide. If they do not – make a comment here. To know more about Vivek Sood, make sure to visit my website viveksood.com or Global Supply Chain Group. For any questions or comments, feel free to contact us or email at contact@globalscgroup.com. You can find comments on this article on LinkedIn.

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Vivek Sood

  • Vitthal S Malhotra says:

    What is a digital transformation and why is it the key to your company’s success in 2019

    • Sam Smith, Director at Stellar One Consulting, an SAP Partner says:

      If you were living in the United States during the 1800s, almost everything you purchased and utilized would have been sourced in your immediate local area. You would have had few options, if any, for basic necessities and you likely wouldn’t have had any disposable income for luxuries.

      But during the Industrial Revolution of the 19th and 20th centuries, mechanized manufacturing processes made the mass production of goods possible. Other technological advances, such as steam engines and radios, allowed for the expansion of commerce, and the acceleration of information transfer, at rates never before witnessed in human history.

      • Shivam Nema, Digital Maketer @ www.comakeit.com says:

        Digital Transformation is much more than just getting your company to the digital platforms. Getting your accounts active on FB, Lin, Insta, Twitter, etc etc is just the beginning.

        It has to be realized that Every Company is a Software Company. To stay ahead in the market, getting a digital makeover is essential. Here is a great article that talks about Effective strategies for an enterprise digital makeover.

        **The key point i want to make is that a ‘Product Mindset’ is required rather than an ‘IT Mindset’.

        • David Rozman, Consulted Telco Executive Board about Digital Transformation says:

          Digital transformation is a holistic transformation of company old business model in order to stay competitive in times of digital disruptors “eating the world”.

          • Mitesh Verma says:

            What is at the core of Digital transformation that applies to all industries and companies ?

          • Naveen George says:

            DT entails the use of emerging technologies such as Big Data, Analytics, Machine Learning, Artificial Intelligence etc…. to produce data that will in a non-linear, exponential manner allow that data to substitute for hard assets (people, capital, inventory, buildings, etc…). This will lead to significant efficiency innovation.

  • Blessin Thomas, Entrepreneur, Digital Marketer, Engineer, Tech Enthusiast says:

    Digital transformation is the process of rethinking one’s business model or business process in light of the availability and affordability of digital technology. It requires coordination across the entire organization, since it applies new technologies to fundamentally change the way business is done. For many enterprises today, the driving motivation of digital transformation is the chance to gain competitive advantages by improving customer experience.

    • Kiran Talreja says:

      Yes, Blessin But To stay competitive in digital business, companies should look at where they are now and determine what core elements of digital transformation they need to focus on. Your company may only be able to begin with one of the three pillars mentioned above; what’s important is that you start somewhere. Though no one has a comprehensive road-map for digital transformation,

      • Mary Benjamin, Owner of "That's Simple", United State Of America says:

        Hey, Kiran it’s not just about the technology: changing business processes and corporate culture are just as vital to the success of these initiatives. Digital transformation projects are often a way for large and established organisations to compete with nimbler, digital-only rivals. These projects tend

        • Onur Deler says:

          In many companies, a transformation journey has started which is called digital. It is one of the most popular words in articles today, but what does it really mean? Here is my understanding of digital transformation: “it is to leverage new technologies and utilize new set of capabilities, tools and design/create new services, products to the customers and change your culture, operational model, organization according to that and start to do your processes different than as you get used to. For example, when I go to a bank branch, I would sit in front of a screen, talk with virtual agent and get helped by a machine which looks like an inspector gadget’s. Or banks will get services from fintechs and integrate them with their products & services to offer customers new values. Or manufacturing companies will use sensors to monitor the products they sell and inform their customers about the performance & life cycle of that product and even configurations of the product will be changed according to coming data from sensors.”

        • Shivram Patil, Doctor By Profession & Technology Enthusiast says:

          The development of new competencies revolves around the capacities to be more agile, people-oriented, innovative, customer-centric, aligned and efficient. The goal is an ability to move faster from an increased awareness capability regarding changes to decisions and innovation, keeping in mind those changes.

        • Yash Bindlish says:

          Digital Transformation is essential for all businesses, from the small to enterprise scale. What it is not clear to many business leaders is what Digital Transformation means. Is it just an attractive way to move on Cloud?

  • Naveen Anbu, Digital Transformation Tech Analyzer says:

    I am not have much clear info about Digital Transformation, But here i came to share some knowing things and Importance about Digital Transformation.

    Digital Transformation all about changing our old style business into new tech platform. With the new advancements in Business/Service nowadays it’s become necessary to change our business into Digital Platform. Digital Transformation

  • Monocept Consulting says:

    In terms of business, digital transformation refers to a medium which helps to extemporize the business activities and its pace of execution in technological and strategic domains. It is a move that transforms business models into a digitally competent manner. Digital Transformation identifies the role of digital technologies in each business and accordingly directs their impact into the business.

    • Afraz Alam, MBA Marketing & Digital Marketing, Sikkim Manipal University (2015) says:

      Yes, But Digital conversion speaks about the disruptive technology which changes the standardized business models, processes and the market structures. When the transformation is developed and then implemented in any specific areas of the business, the entire system gets enhanced. The transition of the business becomes unstoppable.

    • Olivia Anderson, Marketing Specialist (2014-present) says:

      Business passes into a phase of high speeds as digital revolution takes place. Today practically everybody, to some extent, uses gadgets and modern digital services, from social networks, television, and entertainments, to state services. It would be strange to assume that in this new digital economy business will be able to work on an old model, with traditional processes, and with former efficiency

    • Alisha Henderson, Senior Software Tester at TestingXperts (2010-present) says:

      According to CIO research, Digital transformation is the integration of digital technology into all areas of a business, fundamentally changing how you operate and deliver value to customers. It’s also a cultural change that requires organizations to continually challenge the status quo, experiment, and get comfortable with failure.

  • Jack Night says:

    If you believe that Digitalization is a passing trend then you are completely mistaken. Digitalization won’t stop, not now, and certainly not in the future. It’s better to get on board than to stick your head in the sand and hope for the storm to pass. Get out of the standard IT and into decentralized, collaboration with customers.This is the only way to successfully transform into a digital business.

  • Emerson says:

    The digital transformation of the supply chain industry

    All industries have entered the digital era in some way, shape or form and, naturally, some are harnessing the potential of digital more than others. Supply chains today rely heavily on digital technologies to ensure accuracy, delivery, and optimization, but, are they using these technologies to their full potential?

    Very nicely described in the video about the role of supply chain management in the digital economy.

  • Shree Lokhande, Engineering Search Engine Optimization, SVPMS (2011) says:

    Digital transformation can be defined as the acceleration of business activities, processes, competencies and models to fully leverage the changes and opportunities of digital technologies and their impact in a strategic and prioritized way. Digital transformation can involve many different technologies but the hottest topics right now are cloud computing, the Internet of Things, big data, and artificial intelligence.

    • Grant Charles Adams, I architect digital services. says:

      Go to LinkedIn and ask three digital experts what digital transformation is all about. I bet you’ll get at least four different responses!

      Many experts say digital transformation is about technology. They say it is the need to move from older, legacy systems to newer, open source systems. Some experts say digital transformation is about automating all business processes. They claim it is the need to streamline work and reduce budgets and staff costs. Few experts say digital transformation is neither digital nor transformative. They suggest the use of the word digital helps to get attention and secure money. They also state it is not transformational. They say it is just business change.

  • Jasiah says:

    Can you explain what are those three supply chain generations?

    In the past few years, global sourcing has been more economic as well as a political agenda to many large corporates. As time goes by, more and more companies agree that the supply chain issues associated with an outsourcing program have often been underestimated. The cause of the problem is that many seemingly smart outsourcing decisions were based on low acquisition costs rather than total supply chain costs…..[https://bit.ly/2zCewqX]

  • CEO Logistics says:

    My Views-
    NextGen Supply Chain: Keeping Pace with the Digital Economy
    In sticking with tradition, we removed ourselves from the “end-of-year prediction” business and have instead put together an educational experience that offers practical advice to help you transform your operations for the future—and you don’t even have to leave the comfort of your office.

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