As with all things digital, digital supply chains come with risks. The most prominent are lapses in data security and the risk of cyberattacks. Suppliers who access your system through online platforms for global tenders may unknowingly open the door to cybercriminals. And software becomes outdated, users become careless, or threat actors more aggressive.
Being a leader or early adopter of a new technology can be risky, of course, but it provides a wealth of benefits. Among these are gaining access to data and an innovation mindset. Not adopting new technology is risky, as well. Manual processes are time-consuming, labor intensive, and difficult to scale.
By not digitalizing supply chain processes, businesses miss out on efficiency gains, for example. And speaking of risks, managing supply chain risk efficiently relies on automating processes and systems through a cloud-based solution powered by artificial intelligence.