1. UNDERSTANDING THE INFLUENCE OF DIGITAL TRANSFORMATION ON SUPPLIER RELATIONSHIP MANAGEMENT.
- Author
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Nath, Avishek, Adhikary, Abhishek, Rafin, Abu Sufian, Badol, Saifur Rahman, and Nipa, Meherun Nisa
- Subjects
DIGITAL transformation ,BLOCKCHAINS ,AUTOMATION ,SUPPLY chain management - Abstract
The study explores the impact of digital transformation on supplier relationship management, specifically within the setting of Bangladesh. As digital technologies become more essential to company operations, they have significantly transformed the methods by which firms engage with their suppliers. The study investigates the use of technologies such as cloud-based platforms, ERP systems, blockchain, and automation to promote communication, foster cooperation, establish trust, augment transparency, and maximize efficiency in supply chain operations. The research used qualitative methodologies, conducting interviews with 36 organizations from various sectors in Bangladesh, highlighting the potential and problems associated with digital transformation. Essential results underscore the role of digital technology in enabling real-time communication and information dissemination, hence promoting strategic alliances and collaborative methodologies in supply chain management. The research highlights the significance of digital technologies in enhancing transparency and accountability by increasing the tracking and monitoring of supplier performance, hence reinforcing trust among parties. Nonetheless, the report also highlights obstacles like aversion to change, insufficient technical skills, and budget limitations, especially for smaller enterprises. These obstacles impede the comprehensive use of digital solutions in supplier relationship management. The report indicates that, notwithstanding the challenges, the beneficial effects of digital transformation are unequivocal, providing substantial opportunities for firms to improve supplier relationships, save costs, and bolster resilience in a progressively competitive global marketplace. Ongoing investment in digital infrastructure and training will be crucial for firms in Bangladesh to fully capitalize on the advantages of digital transformation in their supply chains. [ABSTRACT FROM AUTHOR]
- Published
- 2024
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