Published November 1, 2016
By Tompkins International Staff
Jim Tompkins, CEO, Tompkins International has just released his newest thought leadership video Supply Chain Revolutions: Responding to Digital Disruptions along with The Survival Guide to Digital Disruptions white paper. 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.
To grasp digital disruptions and digital supply chains it is important to embrace the top 11 building blocks of the digital era. This is not to say that there are not other digital components or that all of the mentioned 11 are applicable to any given company’s digital outreach or supply chain.
1 – Artificial Intelligence (AI) is the simulation of cognitive functions associated with the human mind by machines and computer systems.
2 – Big data, extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.
3 – Cloud computing is a broad term that entails the delivery of computing services and IT infrastructure through the Internet.
4 – In commerce, customer experience is the product of an interaction between an organization and a customer over the duration of their relationship. This interaction includes a customer’s attraction, awareness, discovery, cultivation, advocacy, and purchase and use of a service.
5 – A digital payment system is a way of paying for a goods or services electronically, instead of using cash or a check, in person or by mail. An example of a digital payment system is PayPal
6 – eCommerce is the buying and selling of goods and services over the Internet.
7 – End-to-end visibility, the ability to see one’s products or components as they are moved from origin to destination with the opportunities to change routings, to inform trading partners, and to collaborate with customers.
8 – The Internet of Things (IoT) is a system of interrelated computing devices, mechanical and digital machines, objects, or people that have the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.
9 – Mobile commerce (mCommerce) is the extension of eCommerce onto mobile devices.
10 – Social interaction includes all the ways customers get and share information through social media about products and services they have received.
11 – Uni-channel is when a company delivers a completely unified brand experience. Shoppers’ no longer want / can / need to differentiate between channels or differences in experiences on channels.
What is your organization’s competence regarding the top 11 digital disruptions?
Supply chain professionals are more important to the success of our companies than ever before. This is the time to stage a supply chain revolution that responds to an unmatched level of digital disruptions.