Impact of Growth on Digital Business
With CEOs turning their attention to growth, the need for a strategic differentiator is of notable importance.
Here, digital innovations that track and optimize value chains can achieve those distinctions. This is prompting an increase in the number of senior management personnel who are adopting advanced processes and becoming more technologically aware.
CEOs place higher importance on growth than cost, efficiency and optimization, as seen here:
To implement successful growth plans, supple chains and channel members must work alongside sales and marketing or actively drive revenue growth through product or service innovation.
Less advanced supply chain organizations will continuously find themselves behind in emerging environments, which highlights the value of mature supply chain capabilities and the usefulness of technological development.
Gartner consider customer and business analytics to be the top technological investments between now and 2019, providing insight for demand sensing and segmentation. With digital marketing set to continue its rise in prevalence, management of richer and more accurate customer data will provide better customer visibility and more informed decision-making within the supply chain.
A prominent concern in relation to supply chain influencers is the difficulty in keeping pace with the latest technological advancements.
It’s a mistake to think that competitive necessities have been met simply by installing an ERP system. It’s important that continuous synergy remains with the broader IT strategy, and with those who manage the supply chain process.
It is clear that the merger of the digital and physical world is upon us. Those who are able to adopt and manage the transition more skilfully give themselves the greatest shot at thriving in the new age of advances technology business.
- Align technology-influenced initiatives with senior management preferences; demonstrate how technology can impact value and value chains.
- Use senior management priorities to upgrade supply chain capabilities in analytics, multi-channel e-commerce, and end-to-end supply chain visibility.
- While developing customer and market knowledge, do not lose sight of basic operational necessities such as quality and efficiency.
- Leverage system differentiation and innovation to scale the business and drive profitability.
- Technological changes will introduce added business complexity, so assign the correct resources to manage this.
For understanding how digital business growth might affect you, contact HSO.