Question

Discuss rapidly changing business models and impacts on inventory control/management systems.

Answer 1

Globalization, digitalization, industrialization are increased at its optimum level, and in this present business operation virtual organizations and E-commerce drastically increasing and people are often preferring to purchase with the help of electronic devices.
Now COVID-19 pandemic created a situation in the world that businesses moving towards the digital world and achieving new heights of digitalization. Supply chain management and changing business models working hand to hand and change in business model badly affecting to supply chain management. E-learning, E-commerce, digital payment, etc dramatically adapted by peoples.
Inventory management is facing big challenges becasue of changing the business model and designing an effective and efficient supply chain management is the demand of this time that more and more technology-oriented. Logistic companies need to cut their transportation cost becasue of increasing numbers of supply turnover and work on cost-effective service which suitable for customers.