Harnessing the Power of Digitization to Drive Greater Supply Chain Performance

Companies can no longer overlook the impact of these technologies. Instead, they need to examine how digitization can be leveraged to drive greater revenue, profit and efficiencies across their operations. For companies that are not prepared to harness these technological advancements, the result could be detrimental. With the pace of innovation moving faster than ever before, those that don’t adapt are likely to be left behind — and out of business.

Digitization defined
What exactly is digitization? While there are many different definitions, throughout this white paper we’ll be referring to digitization as the process of using technology advancements to redefine and reimagine current business practices to create a significant competitive advantage across the enterprise. The impact will primarily be seen in the following three areas.

Emergence of new business models:
As access to the Internet grows, this will mean access to new customers and geographies that were not possible earlier; this is changing how companies should choose to spend their marketing dollars.

Powered with big data analytics, enterprises are now doing targeted promotions to maximize the returns on their marketing spend. Even in the medical industry where every ailment used to require a doctor’s visit, insurance companies are now experimenting with the idea of conducting virtual consultations for common ailments such as fevers, coughs and colds. Imagine targeted ads for cold medicine appearing in the browser during a virtual consultation based on criteria that the patient had submitted

Redefined business processes:
The exponential rise in computing power is now allowing businesses to process and interpret massive amounts of data very quickly, which is something that was not possible until recently.

More JDA digitization resources.