Application of Digital Technologies: Integrated Blockchain With Emerging Technologies

Introduction

With the advent of industrial revolution 4.0, new technologies have the potential of transforming the supply chain, logistics and transportation sector. These technologies enhance the value of the supply chain system. The modern transportation and supply chain of companies like Amazon, Alibaba, Mercedes, Sony, Apple, Samsung are focal points of the world to study and follow or improve the supply chain. The risks and the investment need to be analyzed closely to the integrated networks before the supply chain improvements can be implemented (Glas et al., 2016); (Ivanov et al.,2019). Some companies have not been able to exploit these opportunities due to lack of understanding, resistance to change, lack of investment and lack of apt manpower and sometimes lackluster management strategies been adapted. The internet of things (IOT) has changed the habits of users to the extent that an average of 6 hours daily is spent by most people on gadgets, mobiles, and electronic devices. It is interesting to note that all companies have not adopted digitalization to the same extent and probably losing out on the opportunity which digitalization has thrown open for business and global reach (Gurria, 2017). Artificial intelligence, machine learning and big data support the storage of data, analysis, and processing of data for prediction on daily basis to enhance logistics and supply chain services. It involves reimagining, rethinking, and redesigning digital age businesses. Digitalization makes collaboration, integration possible which in turn can reduce cost, save time and manpower, makes storage of records systematic and compact enhancing efficiency and effectiveness of the supply chain system (Arenkov et al., 2019). The digital transformation in the supply chain is less of a digital problem than a transformation problem, change envisions of the management transferred to its employees and an organization problem most of the time (Agrawal et al., 2020). Customers are ready to pay for the innovation and digital methods used to keep everyone safe, which most of the experts were not sure of at the beginning of this trend. Customers are sensitive to human value and ready to try out new ways of receiving things like drones delivering parcels. Most experts in earlier times would not agree this would happen as the argument was about personalized service whereas this drone delivery is more personalized and keeping the social distancing norm in mind. The delivery of food items to the customer on the table using robots, in the restaurant was unimaginable a few months back, however a reality now (Nikolskaya et al., 2021).