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International Research Journal of Engineering and Technology (IRJET)

e-ISSN: 2395-0056

Volume: 11 Issue: 08 | Aug 2024

p-ISSN: 2395-0072

www.irjet.net

Digital Transformation in Supply Chains: Consulting Strategies and Impacts Pragya Verma

Parv Jain

School of Electronics and Communication Engineering School of Mechanical Engineering Vellore Institute of Technology Vellore Institute of Technology Vellore, India Vellore, India ------------------------------------------------------------------------***------------------------------------------------------------------------Abstract - This paper investigates the transformative Digital technologies such as the internet and cloud-based

technologies enable these changes by transforming physical goods and services into digital versions, which has major benefits (Gassmann et al., 2014). Businesses all across the world use these innovations to improve a range of company factors, such as supply chains, sales channels, products, and procedures. This promotes value creation, productivity, and better customer interactions (Downes & Nunes, 2013). Prioritization and strategic alignment of disparate threads are necessary due to the extensive reach of digitalization (Matt, Hess & Benlian, 2015).

effects of digital transformation across various academic disciplines and practical applications, emphasizing its influence on supply chain management and digital marketing. Digital Transformation drives independent research streams, focusing on antecedents, implications, and contingencies of technological innovations. In the digital marketing era, consumers utilize advanced technologies and smart apps to evaluate products and services, prompting businesses to adopt digital transitions for understanding customer behaviors and developing strategic differentiation models. Despite the evolving literature on Digital Transformation's impact on business models, this review aims to elucidate transformations in distribution models, challenges in implementing digitized business models, and changes in revenue models post-Digital Transformation. Additionally, it explores the evolution towards Supply Chain, opportunities for new business models, and the role of generative AI in enhancing decision-making, efficiency, and sustainability. Findings from detailed case studies highlight significant improvements in performance, automation, and collaboration, underscoring the necessity of strategic adaptation for businesses to harness these advancements effectively. This review enhances the existing Digital Transformation literature in business processes, offering managers insights into Digital Transformation's necessity in business activities, opportunities, challenges, and revenue generation.

While infrastructure applications, systems, and organizational frameworks remain the main emphasis of IT strategy, innovations aimed at meeting customer and product-centric objectives are crucial for advancing digital transformation(Teubner, 2013). According to Matt et al. (2015), Digital Transformation goals specifically target customers and overall business operations, emphasizing procedural, product, and functional innovation. Digital business strategies, which integrate IT skills with digital technologies and organizational functions, have a substantial impact on profitability, community participation, and firm performance (Bharadwaj et al., 2013; Oestreicher-Singer & Zalmanson, 2013). As demonstrated by Ford's "MyFord Touch" feature, Lego's and BMW's usage of robots and digital media, and effective Digital Transformation reconfigure customer value propositions while improving experiences and bringing in new revenue streams (Berman, 2012). As evidenced by Best Buy's metamorphosis, Digital Transformation has also transformed supply chains, resulting in better tracking, faster order processing, and improved partnerships through improved information flow (Berman, 2012).

Keywords—Supply Chain Management ; digitization; smart network; Business Models

INTRODUCTION

In today's digital age, customers adeptly use technology to instantaneously access and compare items, affecting their purchasing decisions and causing businesses to rethink their models to produce maximum value and competitive advantage (Berman, 2012). Market instability, pushed by recent technological breakthroughs, has prompted organizations to strengthen their responsiveness and integrate digital transformation into their fundamental models to boost performance and operational efficiency.

Impact Factor value: 8.315

The influence of Digital Transformation on revenue models and distribution channels is reviewed in this study, which also looks at the difficulties in incorporating digital technology into business models and highlights some of the advantages of Digital Transformation. With the advent of new Supply Chain models , which are defined by IoT, advanced robots, and big data analytics, logistics has changed over the past thirty years from an operational to a strategic position within enterprises. Furthermore, by

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