It is important to recognize that at no time in history has the pace of disruptions been quicker or have had greater magnitude than today. What companies are currently experiencing is unprecedented.
Raleigh, NC (PRWEB) October 20, 2016
Jim Tompkins, CEO, Tompkins International, newest thought leadership video Supply Chain Revolutions: Responding to Digital Disruptions has just been released. Jim Tompkins continues to shape and grow the supply chain industry through innovative ideas, insight, and intelligence.
Throughout the video Tompkins explains the importance of understanding how digital disruptions are affecting companies supply chains. Also, explained is what needs to take place to respond to these disruptions. With the use of graphics, quotes, data, and proven results, Tompkins makes it clear why businesses must become digitally capable in order to achieve profitability.
Being digital is the ability to market, sell, and serve through digital means. Digital encompasses the entire product and service life cycle, and impacts all trading partners of national and international supply chains.
It is important to recognize that at no time in history has the pace of disruptions been quicker or have had greater magnitude than today. What companies are currently experiencing is unprecedented. There is no indication that there will be a reduction in the pace or scale of digital disruptions that companies are and will continue to face.
The 11 digital components creating disruptions and impacting supply chains are, artificial intelligence, big data, cloud computing, customer experience, digital payment, eCommerce, end-to-end visibility, Internet of Things (IoT), mobile commerce, social interaction, and uni-channel.
There are a number of companies that have used digital components to separate themselves from other companies. Some well known examples, Alibaba the world’s highest volume merchant yet owns no inventory, Airbnb the world’s largest accommodation provider yet owns no property, Uber the world’s largest taxi company yet owns no vehicles, and Facebook the world’s largest media company, yet creates no content.
Due to the continued disruptions a company’s supply chain must be capable of responding to competitors digital capabilities in the digital age.