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Supply Chain Digitization and Financial Automation: A Comprehensive Review of Trends, Challenges, and Opportunities
Subject area: Science,Engineering and Technology · Area of research: Supply Chain
Abstract
This review outlines the transformation impact of digitization of the supply chain and financial automation, discussing new technologies and innovations driving the future face of the industry. Most of these new technologies-artificial intelligence, blockchain, big data analytics-are inducing considerable variances in conventional supply chain models, enabling real-time monitoring, predictive analytics, and financial process automation. These advances have made operations across supply chain networks much more efficient, transparent, and scalable. On the other hand, a complete transition to fully digitized systems is equally filled with data security vulnerabilities, resistance to organizational changes, and complications in legacy system integrations with modern technologies. This paper synthesizes key trends, challenges, and opportunities from recent literature and gives a comprehensive analysis of the present state of supply chain digitization. Additionally, this work discusses how such technologies can be harnessed to advance sustainability, improve financial workflows, and realize competitive advantage. The review concludes with recommendations for future research directions and practical approaches to overcoming existing barriers.
Keywords
Digitalization of supply chain, automation of finance, blockchain, AI, ML, big data analytics, Industry 4.0, sustainability of supply chains, monitoring in real-time, predictive analytics, operational efficiency, digital transformation, scalable supply chain, supply chain transparency, automating financial processes.
How to cite this paper
@article{1703033,
author = {Olatunji Oluwatosin Onaseso},
title = {Supply Chain Digitization and Financial Automation: A Comprehensive Review of Trends, Challenges, and Opportunities},
journal = {Iconic Research And Engineering Journals},
year = {2021},
volume = {5},
number = {6},
pages = {265-272},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1703033.pdf},
abstract = {This review outlines the transformation impact of digitization of the supply chain and financial automation, discussing new technologies and innovations driving the future face of the industry. Most of these new technologies-artificial intelligence, blockchain, big data analytics-are inducing considerable variances in conventional supply chain models, enabling real-time monitoring, predictive analytics, and financial process automation. These advances have made operations across supply chain networks much more efficient, transparent, and scalable. On the other hand, a complete transition to fully digitized systems is equally filled with data security vulnerabilities, resistance to organizational changes, and complications in legacy system integrations with modern technologies. This paper synthesizes key trends, challenges, and opportunities from recent literature and gives a comprehensive analysis of the present state of supply chain digitization. Additionally, this work discusses how such technologies can be harnessed to advance sustainability, improve financial workflows, and realize competitive advantage. The review concludes with recommendations for future research directions and practical approaches to overcoming existing barriers.},
keywords = {Digitalization of supply chain, automation of finance, blockchain, AI, ML, big data analytics, Industry 4.0, sustainability of supply chains, monitoring in real-time, predictive analytics, operational efficiency, digital transformation, scalable supply chain, supply chain transparency, automating financial processes.},
month = {December},
}