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Digitalization, which is identified as the top trend in next-generation supply chain development, facilitates the distribution of products, increases organizational flexibility to changing demand or supply situations, and boosts the efficiency of the supply chain (McKinsey, 2016). Later studies confirm that emerging digital technologies can improve the performance not only of firms (Dubey et al., 2019; Lal & Bharadwaj, 2020; Samuel Fosso et al., 2019; Sultana et al., 2021) but also of supply chains around the globe (Barreto et al., 2017; Björkdahl, 2020; Chen et al., 2020; Uniyal et al., 2021). For instance, big data analytics favors increased customer customization and, together with sensors, cloud solutions, and additive manufacturing (3D printing), enables a competitive business model that shortens the distance and responsive time to target markets, thereby benefitting relatively smaller and more responsive businesses (Organization for Economic Co-Operation and Development, 2019). Furthermore, almost 90% of respondents believe companies can gain a competitive advantage in the supply chain through digitalization in the next five years; however, 70% of firms are unclear about the context embedded in the supply chain digitalization (SupplyChainDigest, 2016). A substantial percentage of senior maritime Singaporean executives responding to a poll expressed doubt about a digital future for the sector (Tan, 2018). Additionally, some firms are struggling with the development of their digital strategies due to several challenges and barriers (Pereira et al., 2020), and the digital strategies of many other firms are failing (Bughin et al., 2018). Mixed trends are evident in the digitalization journey of small and medium-sized enterprises (SMEs) in Germany (Zimmermann, 2021). Enterprises that are not ready to leverage the advancements from these digital and technological improvements are likely to go out of business (Saxena, 2016).
Both researchers and practitioners have given ample attention to the process of digital transformation. Focusing on the physical movement of products and related processes, traditional businesses have been disrupted and have begun the digital transformation journey in the last few years (Queiroz Maciel et al., 2019). Since the global outbreak of the COVID-19 pandemic in late 2019, leveraging digital supply chain technologies to diversify and minimize supply chain risks and disruptions has become crucial for companies to build a resilient supply chain (Zouari et al., 2021). The latest HSBC Navigator survey of 3,000 businesses in the Asia-Pacific region reveals that companies expecting considerable business growth are increasing their investment in sustainability to boost resilience through digitalization (e.g., implementation of data science and AI, cloud-based software, automation, and robotics in business operations; HSBC, 2021).