Ever wondered what the digital supply chain is? Curious about how to make it work in your business? If you answered yes to either of these questions, then this article is for you.
What is a supply chain? It’s the process that starts when someone places an order and ends when they’ve received their product. It involves hundreds and sometimes thousands of smaller processes that produce the desired result.
The digital supply chain wasn’t around fifty years ago. It’s a product of our most advanced technology and changes the way business conduct their operations.
Here’s a look at some of the main technologies that the digital supply chain relies on.
Cloud Computing
If you’ve ever wondered what “in the cloud” means, it may surprise you how familiar with it you already are.
So what is the cloud? It’s the internet!
In the cloud, data gets stored online, work gets done online, and transactions happen online.
Supply chain management is easier with cloud computing because password holders can access supply chain data anywhere.
Blockchain
Blockchain is important to the digital supply chain. There’s always been a supply chain in business, but making the supply chain digital is a relatively new development.
Blockchain technology has a built-in system of record-keeping that is perfect for digital transactions. We’re just beginning to see how it will play a role in the international economy.
The IoT
The IoT, or Internet of Things, is another tech category you’re probably already familiar with. Every time you use your smart thermostat, smartwatch, or program your smart vac or dishwasher, you’re using the IoT.
With your gadget connected to the digital supply chain through the IoT, you’ll be able to instantly order new products, updates, and more. Supply chain digitization has brought convenience to our fingertips and brought the world closer than ever before.
Print-on-Demand Technology
Print-on-demand technology lets you order what you want right when you want it. This means you don’t have to keep things in inventory, which saves space and time. Plus you never have to pay to print items that don’t sell right away.
The digital supply chain lets printing orders get placed from anywhere. Digital book authors and creators can also enjoy being able to create multiple income streams and passive income.
Data Analytics
Data analytics allows users of the digital supply chain to manage and maintain inventory and orders. It’s also possible to customize advertising and marketing with the right data so the right web visitors get converted to buyers.
Cybersecurity
Cybersecurity is extremely important to the digital supply chain. Much of the digital supply chain can be vulnerable to attacks from hackers. So having the right protection at all potential access points is critical.
If you would like to learn more about cybersecurity and how it protects the digital supply chain, check out https://www.cyberpion.com/ for more information.
Make the Digital Supply Chain Work For You
The digital supply chain lets customers and business owners communicate and makes businesses what they are today. It’s likely that your business already makes use of the digital supply chain even if you never really thought about it. But now that you’ve read this article, can you think of more ways it can help you grow your profits?
If you’ve enjoyed reading this article and would like to learn more about business, tech, and more, check out the rest of our blog!
