Trends Learned from the Retail Supply Chain Summit 2019

To understand what blockchain is, one needs to imagine a virtual ledger capable of registering and verifying a huge number of electronic transactions quickly and safely. Today, this shared ledger technology has greatly expanded the area of application. The first blockchain use cases originate from financial institutions and cryptocurrencies called Bitcoin, Litecoin, Ethereum – just to name a few. The annual global market for blockchain development has increased almost trice since 2017 and is going to reach approximately US$16B in the next three years. Industries from healthcare to food to notary are beginning to adopt blockchain. To dive deeper, let’s go back to the basics of the technology.

An unstoppable digital transformation has already affected hundreds of spheres, from supply chain management, e-commerce, public sector, to fintech, healthcare, and retail. Companies worldwide strive to embrace the latest tech to remain competitive, increase customer loyalty, and accelerate revenue streams. The business world is transforming in front of our very eyes, due to daily upgrades of what automation and software development can do. Amidst this change, a true entrepreneur understands how crucial it is to keep their hands on the pulse of tech breakthroughs. After all, if you do not deliver a product that is fresh and reflective of where the industry’s headed – someone else will. The knowledge of new technological possibilities is a useful element of your company’s toolbox and a valuable weapon in the competitive market. So, let us sharpen that blade with a top ten of software development trends for the nearest future.

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.

The financial services market has seen radical technology-led changes over the past few years. Many leaders look to their IT departments to improve performance and promote game-changing innovation – while somehow reducing costs and, at the same time,  continuing to use legacy systems. “To succeed in this rapidly changing landscape, IT executives will need to agree with the rest of the management team on the posture they wish to adopt. Will they try to be industry leaders, fast followers, or will they just react? Whichever direction they choose, they will need to devise a clear strategy to move forward.” FS Tech 2020 and Beyond: Embracing disruption Meantime, fintech startups are disrupting the established markets, leading with user-centric solutions developed from scratch and unencumbered by legacy platforms. Customers have certain expectations and are now necessitating better services, seamless experiences regardless of channel, and more value for their money. Also, regulators demand more from the industry and have started to adopt new technologies that will transform their ability to gather and analyze data. And the pace of drastic change is not even at the peak. There is no doubt that technology is affecting financial services in multiple ways. The PWC report suggests ten key influencers that IT executives need to address while strategic planning for 2020 and beyond. Each of these drivers is likely to change financial services companies and their management teams in far-reaching ways. And while each can have a disproportionately strong effect on a given country, customer set, or industry sector, they all present opportunities for the thinking executive to go ahead. Knowing a robotics era is coming, for example, you have a choice: to harness the innovation, or to see others benefit from a global shift. The section below sets up challenges around these ten influencers: to know them, get ready for them, and see how to employ them to get a competitive advantage.

The value of effective global supply chain management is increasing each year, as nearly 10-12% of global GDP comprises logistics activities. This percentage shows that people tend to consume more and more. And along with the need to get the deliveries on time, customers seek a seamless and superfast shopping experience. Thus, 30% of businesses worldwide stated that their primary objective is to satisfy the rapidly changing customer requirements, which can result in the company’s success. Indeed, companies with high-performing supply chains get more revenues, than the average logistics performers. With this in mind, leaders have to find out the ways to transform their global supply chain management and to adapt to growing customer mandates. According to a recent report Future State of Digital Supply Chain Transformation, over 75% of companies consider the integration of digital tools as a very important component in achieving effective supply chain management (SCM).