Digital supply chains 'key to new business future' Loseby
Supply chains will shape a more collaborative future, but digitalization is crucial, says supply chain academic David Loseby. His paper explores the value of academic research in informing strategic direction and highlights the importance of digital adaptability and stakeholder collaboration. Without radical collaboration, there will be a loss of economic value and social degradation. Loseby emphasizes the need for the digitalization of supply chains to create a dynamic understanding. However, he warns that digitalization must be approached with an open architecture mindset, and contingency planning should be ongoing.
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Frequently Asked Questions
Q: What is the importance of digital supply chains for the future of businesses?
A: Digital supply chains are crucial for the future of businesses as they enable resilience, agility, and sustainability. They leverage technology and real-time data to optimize decision-making, enhance efficiency, and improve customer satisfaction. Digitalization allows businesses to respond quickly to disruptions, automate processes, and gain valuable insights through analytics. This increases competitiveness, enables faster response times, and improves collaboration across the supply chain network.
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