Digital technology is a commercial necessity
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Covid-19 has accelerated digital transformation at a pace never seen before, in a context in which technology has become an absolute necessity. The new scenario highlights the need for companies to address these challenges to remain sustainable.
The Supply Chain (SC) and Logistics sectors are undergoing a dramatic transformation due to the accelerated Digitalisation of global trade. Companies have made a great effort to adapt and keep their businesses active despite the circumstances.
Teleworking, Online learning, E-commerce, Cloud infrastructures and Digital security are the main aspects that define the new scenario for companies and consumers.
Virtualisation of applications, processes and cybersecurity have taken a fundamental part in this new business scenario since these aspects, which already posed a significant threat to companies, has been placed on the front line due to the pandemic.
Businesses now need to communicate in real-time while meeting the increased demands and increased transaction volume. Having an enterprise device built for your purpose is decisive in such circumstances.
SCs are now at the forefront of many companies; therefore, Digitalisation is a crucial competitive tool that cannot become a barrier because it is increasingly necessary to compete globally.
The Digital transformation has come to companies to stay; the current labour scenario holds an opportunity to rethink diverse processes and train more talent. Many companies coming from different industries worldwide have had to adapt to teleworking in record time.
The situation derived from the pandemic has rewarded those companies that had already initiated actions in Digitalisation and could make their work model more flexible. Although industries paralysed some activities entirely, technology has allowed many businesses to continue operating relatively normally.
Covid-19 has accelerated this transformation; consequently, companies that provide services in this area have experienced an exponential increase in demand and have taken the opportunity to enhance their solutions.
With insufficient data collection, storage and processing costs, Digitalisation is transforming economic activities around the world. It affects value chains, skills requirements, production and trade, and will require adaptations of existing legal and regulatory frameworks in many areas.
We should realise that the high-level technology developed so far makes Digital Economy. Techs such as advanced robotics and industrial robots have been available for decades. Still, only recently, they have become more sophisticated, agile, and flexible, allowing to expand the scope in Digital automation.
Similarly, Artificial Intelligence, defined as the ability of machines to mimic intelligent human behaviour, involves performing various cognitive tasks such as detecting, processing oral language, reasoning, learning, making decisions, and manipulating objects accordingly.
Another fundamental technological development is the so-called Internet of Things (IoT), which refers to the digital interconnection of everyday objects with the Internet. If appliances, medicine cabinets, automotive parts, among others, were connected to the Internet, there would be no out-of-stock items or expired medicines; in the same way, you would know precisely the location of a product, how the world consumes it, what is on or off at all times.
We must track every stage an item or product takes in its SC journey to customer fulfilment at the unit or Stock Keeping Unit (SKU) level.
Of the many stages achieving first-and last-mile visibility proves to be a challenge for SC operators and intermediaries. But with a targeted device deployment strategy, first-and last-mile stakeholders can now implement a cost-effective solution to increase connectivity.
Further comments: Digital Economy is creating new opportunities for trade and development; it is helping small businesses connect with global markets more efficiently whilst deploying new ways to generate revenue.
Have you started your Digital Transformation?