In addition, the efficiency improvement effect of firm digital transformation is particularly pronounced in regions with advanced levels of digital economy or digital finance development. Consequently, this study extends the research on the economic effects of firm digital transformation and provides policy insights for governmental promotion...
Consider the example of a household goods company whose transformation aims to increase profit through digitization and customer centricity. One of the firm’s initiatives is to handle the sale of frequently reordered supplies exclusively through its online channel. To help deliver this, the company ...
it’s not the best when it comes to investments. Investing in “blue-chip,” or safe solutions can lead you to miss out on some hidden gems. It also represents a bias that causes you to overlook talent, as well as profits. Your managers need tools, insights...
The biggest businesses operate with speed and efficiency, and it’s not because they have armies of workers toiling away at manual processes like updating sales ledgers and writing shipping labels. Their secret? They replace manual tasks with business process automation tools. Thanks to dramatic ad...
Digital Workforce Productivity Digital Manufacturing Solutions The ThingWorx platform has brought all our various systems together and makes the data from those actionable for our workers. Not only have we been able to improve the quality of our products, but we’ve drastically increased efficiency an...
Sometimes these are referred to as the 6Ms, which are manpower, machinery, materials, mother nature, methods, and measurement. These inputs go through a transformation process that results in your output. Efficiency is a measure of how well you take those inputs and produce useful outputs....
In addition to advancing financial inclusion, telebirr is fostering the digital transformation of the country. It is simplifying the lives of individuals, while enabling businesses and public enterprises to digitalize their services to increase their productivity and efficiency. ...
In an increasingly technology-focused world, the demand for businesses to digitize has grown dramatically. So, what does it mean to digitize your business? Essentially, it means incorporating technology into your business operations to increase efficiency, enhance customer experience, and boost sales. ...
The use of advanced data collection tools established in the planning phase improves the efficiency of planned and unplanned maintenance. Using artificial intelligence (AI) and machine learning (ML) in a shared network model at this stage helps optimize maintenance activities to increase uptime and de...
Reliance on manual and paper-based processes for procurement can be time-consuming, prone to errors, and hinder efficiency. Manually handling tasks such as purchase requisitions, approvals, and invoice processing can be labor-intensive, impacting productivity and increasing the risk of inaccuracies. ...