Information drives competitive advantage in the Digital-First World, and the effective management and coordination of it is critical, to drive competitive advantage and operate seamlessly within this ecosystem of partners, companies need to re-invent their business processes with digital technology.
January 19, 2017
In the Digital-First World, companies that deliver an engaging and satisfying customer experience across the buyer journey will gain competitive advantage.
What does the digital customer want?
They want more choice and customization.
They require instant access to product information wherever they are.
They expect to receive products quickly and with zero defects.
Ordering, billing, and payment transactions must be simple, streamlined, and accurate.
Supply chain excellence is key to a superior customer experience, but has become incredibly challenging in today’s business environment.
The digital supply chain must accommodate a rapid cycle of product introductions and personalized offers, cope with exploding volumes of cross-border transactions, and operate seamlessly and efficiently within a fragmented, global ecosystem of partners and suppliers - all while maintaining profitability and service levels.
To excel in this new environment, businesses need to radically change or, in many cases, completely overhaul their supply chain processes.
They need to digitize core business processes and adopt emerging technologies for increased flexibility, productivity, cost savings, and streamlined transactions with supply chain partners.
A Digital Ecosystem
During the transition to a digital business, organizations need to re-envision their business not as a standalone entity with a linear value chain in which activities flow in an orderly, predictable way, but as part of an extended digital ecosystem from which they, their customers, or any member of the ecosystem can assemble products and services according to their needs and easily pivot their operations to meet demand.