Revolutionizing supply chains: The role of emerging technologies in digital transformation
Authors
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Naimul Islam
Department of Accounting, Finance and Economics, University of Greenwich, SE10 9LS, London, UK.
https://orcid.org/0009-0005-7001-1770
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Tipon Tanchangya
Department of Finance, University of Chittagong, Chittagong 4331, Bangladesh.
https://orcid.org/0009-0009-2365-4959
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Kamron Naher
Department of Business Administration, Presidency University, Dhaka-1212, Bangladesh.
https://orcid.org/0009-0001-9663-5427
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Ummah Tafsirun
Department of Business Administration, Sonargaon University, Dhaka, 1215, Bangladesh.
https://orcid.org/0009-0005-5373-4619
- Md Rakib Mia Department of Business Administration, Ahsanullah University of Science and Technology, Dhaka 1208, Bangladesh.
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Shoaibur Rahman Sarker
School of Business and Law, Northumbria University, 110-114 Middlesex Street, London, E1 7HT, UK.
https://orcid.org/0009-0000-4196-682X
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Fahad Rashid
Centre for Islamic Finance, University of Bolton, Bolton BL3 5AB, UK.
https://orcid.org/0009-0001-2482-3808
DOI:
https://doi.org/10.18488/89.v11i1.4143Abstract
The main objectives of the study are to provide a comprehensive overview of emerging technological solutions, their applications, and their impacts on supply chain digital transformation. It is qualitative research, and secondary data were collected. The study identified five effective applications of the individual solutions. AI provides effective insights, demand forecasting, warehouse automation, transportation and route optimization, supplier selection and management, and predictive maintenance. Blockchain enables tracking and transparency, enhancing traceability, cutting down on counterfeiting, encouraging sustainable and ethical sourcing, and facilitating smart payments. Business intelligence ensures improved communication, monitoring expenses, inventory management, tracking key performance indicators, and optimized visualization. Data science facilitates demand prediction, route enhancement, inventory management, hazard assessment, and supplier administration. IoT enables shipment and delivery tracking, warehouse capacity monitoring, inventory management, storage condition monitoring, and routine optimization and automation. RFID is effective for warehouse management, inventory management, freight transportation, supply chain visibility, and retail management. These emerging technologies collectively promote a more integrated, adaptable, and resilient supply chain landscape, address significant challenges, and open doors to future innovations. The results suggest that by adopting all emerging technologies within the supply chain context, business executives would increase their efficiency and enhance firm value as well.
