Digital supply chain solutions are here and are already helping businesses get ahead of the competition

Digitization of existing and new products is no new trend – but recent years have brought a number of new developments. Many businesses have experienced a digitization boost due to stay-at-home orders during the coronavirus pandemic. The development of new digital technologies continues; the number of registered patents and the quantities of digital data continue to increase. A number of new products in generative AI have been brought to the market recently.

The supply chain industry, too, is increasingly digital. Paper-based processes have been replaced by digital ones in many places. Machine learning can be used to predict supply or demand. At the same time, digitally supported physical technologies are continuously developed. Advancements in robotics enable the reliable automation of intralogistics processes, for instance. Other technologies like 3D printing might even make way for a reconfiguration of supply chains, for instance if suppliers of printable parts are replaced by suppliers of raw materials.

With the fourth industrial revolution, digital connectivity plays an ever more important role in the working world. Innovative new technologies will have long-lasting effects on the way business is done. As rapid digital developments make new products, strategies and best practices available, businesses need to know where to focus their resources – and when to do it.