John Kavanagh Attends Gamescom 2018 Held in Germany in Late August

In a post-coronavirus-world, С-level executives seek new ways to boost their internal operations to drive the bottom line. Almost 80% of businesses with highly efficient supply chains generate more revenues than the average ones. What’s the key to their success? Forward-thinking companies take advantage of integrated supply chain solutions and digitalization by adopting innovative technologies to upgrade the traditional supply chain management system (SCMS) or even completely replace older technologies. Let’s find out what supply chain integration is and how to disrupt the existing logistics effectively.

Inventory management (also known as stock management or stock control) is one of the fundamentals of a supply chain, which helps track the company’s resources and ensure they are sufficiently stocked to work correctly. Today’s main challenge for enterprises is reducing manual work involved in inventory management and saving productive hours by integrating automatic systems backed by the latest technologies. This is why many small and midsize businesses (SMB) are interested in launching advanced warehouse management operations and are investing in inventory management software. The fact is that 46% of SMB representatives still track their stock manually or don’t do it at all. Today, the tectonic shifts in the world’s economic landscape push businesses to act in order to survive. Almost half of the industry-leading chains are ready to invest in warehouse automation, robotics, AI and ML, and other core technologies to drive the supply chain’s performance. With these investments, SMBs make stock control a critical factor for their financial success.

In 2021, Third Stage Consulting Group issued an incredibly substantial report on what modern digital transformation strategy is, about top challenges experienced by transformation executives, top trends, and recommendations. They noticed digital transformation was ‘the force driving a business’. In 2022, digital transformation also remains the driver for generating business value. While for some companies it is only at the stage of the idea, some huge market players keep benefiting from it already for years. Just take a look at Amazon. In 2005, Amazon was selling books and performing at a decent operational revenue level. Today, they are bigger than any other retailer in the world. After they implemented a new and pivotal digital e-commerce strategy, the company has gained 1,934% in value and is one of the most successful companies in the world.