Topic of the week – Businesses prioritising digital integration and the adopting of technology throughout the supply chain
With more and more technological advancements, businesses are becoming more open to integrating technology and prioritizing digital transformation within their manufacturing and processes. With the zeitgeist of artificial intelligence technology continuing to rise, companies are looking at the benefits of this technology when integrated into their warehousing, processing and even customer journey. According to a study by Sikich LLP of 150 manufacturing executives, 50% of companies are increasing their digital transformation investments slightly and more focused, whilst 33% of companies are investing significantly in order to gain a competitive edge.
Most companies are concerned about the security and cyber risk implications of digital transformation, with 49% admitting to it being the number one barrier to their integration strategy. Despite this over 44% of companies describe themselves as “early adopters” of technology integration, with over 25% describing their organisations as “innovators” when it comes to digital transformation. A further 48% of organisations in this study admitted that a “lack of unified information technology strategy” was the main barrier to digital transformation. The study also highlighted that companies are struggling to meet customer demands and commitments through a lack of visibility throughout the supply chain at 33%, as well as delivery delays. However, through the use of AI organisations are hoping to most improve their user experience whilst others hope to utilise AI functionality more throughout the supply chain and processes.
When asked what areas of artificial intelligence these organisations are most interested in, the majority of answers leaned towards the integrations of robotic process automation within sortation, warehousing and manufacturing, whilst other organisations expressed more of an interest in the machine learning and predictive capabilities of AI. Many businesses have also expressed interest in implementing AI throughout the user experience in the forms of chatbots and assistants, which you have probably seen adopted on many online retailer websites already. At Pro Carrier, we believe in a blended approach that combines dedicated customer service and more human interactions, with forwarding thinking technology in the form of automation, AI and online portals.
In other news
Digital marketing agency outbloom has recently generated a list of what they believe to be the most important emerging eCommerce trends. They said, “Customer behaviour is constantly changing in retail due to trends, external events, or simple curiosity. Many retailers must embrace what the latest technology has to offer to reach more consumers on digital channels to generate sales, boost conversion and encourage recurring purchases.” Personalised shopping experiences, social commerce and interactive content/immersive experiences are just some of the emerging trends that outbloom believes will impact the eCommerce and retail industry over the next few years.
eCommerce Market Stats
See some statistics relating to this week’s topics in the eCommerce market below.
Digital Transformation Stats
Areas of AI organisations are most interested in
- Robotic process automation – 65%
- Machine learning for demand – 55%
- Predictive Analytics – 48%
- Computer vision and image – 46%
Top barriers to digital transformation
- Security and cyber risk – 49%
- Lack of unified information technology strategy – 48%
- Interoperability issues – 47%
Top expected AI benefits
- Utilising AI functionality – 57%
- A better user experience – 51%
- Improved integration across separate applications – 47%
*Statistics sourced from DigitalCommerce360
That’s all for this week…
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