Category: Digital Consultancy & Business (EN)

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How can competitive intelligence help you to create a better corporate strategy?

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How can competitive intelligence help you to create a better corporate strategy?

  • Tags Competitive Intelligence, Corporate Strategy

Importance of Corporate Strategy

In order to have the best corporate strategy you’d need to evaluate how every part and aspect of your company fits together and what kind of impact they have on each other. Corporate strategy is always focused on managing resources, risks, and returns.

You should focus on several important factors, which are basically the pillars of your strategy to reach success in the long run. While reading about them it will become clearer for you how competitive intelligence, as the process of gathering and analyzing information about the industry and competitors, will aid you.

Benefits of Corporate Strategy

Corporate strategy is extremely useful for more prominent companies. Especially, when they are multi-business companies that need specific guidance to achieve more in the business world. When you have so many valuable sectors that need specific attention it’s easy to get overwhelmed.

Creating a corporate strategy will help you to develop more ways of reaching success and also, will help you to create additional options for overcoming barriers. Many senior leaders pay a great deal of attention to corporate strategies right now because, with this option and all the benefits of strategic planning, you can gain a solution for effective problem-solving and achieve more long-term goals.

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Allocation of Resources

This is one of the most important factors for corporate strategy, where you should be focused on two resources. These are people and capital.  In order to gain more benefits and manage all the aspects of your company, it’s important to pay more attention to these resources. You have to be sure that your team is competent and can accomplish the tasks that you’ve set for them.

Also, check all the resources and capital that you have. Analyze all the internal and external opportunities that you will be presented with. Uncovering more about market trends with competitive intelligence will be helpful here. You’ll know better what’s happening and how you can adapt to those trends with your team and capital. Sorting out these issues will help you to take your first step toward creating a successful corporate strategy.

Organizational Design

Organizational design is about ensuring that your company is equipped with all the appropriate systems in order to create value. To go through this stage successfully you have to analyze lots of areas of your company. For example, actively working on organization design will help you to understand how much freedom and autonomy should you give to your business units.

Also, you’d determine if you should divide bigger commitments into smaller projects. Based on the information that you’ll get from the competitive intelligence about different market trends, business decisions, and competitors, you’ll be able to sort out more issues in this area.

Portfolio Management

In order to further improve your corporate strategy, you need to manage your portfolio carefully. As mentioned before, it’s the best strategy for multi-business companies. Portfolio management will help you to manage business units. You’ll know where you should invest your money. You’ll know how you should manage risks related to diversification and you’ll create more strategic options for yourself.

Since based on competitive intelligence you can understand what your customers want and what are their buying motivations, you’ll know exactly where you should redirect your investments and in which business should you be involved or not.

Strategic Tradeoffs

Balancing strategic tradeoffs is the most difficult aspect of corporate strategy. It’s not easily manageable but has great importance, because this aspect can aid you with risk management and can help you to generate better returns.

Strategies that seem to have a higher risk could bring higher returns as well, but you need to evaluate how beneficial it would be for you to use a risky strategy. You’ll outline a wide range of options for yourself here which will be more promising for you and will help you to gain a better competitive advantage.

By considering all the above-mentioned factors and the information that you can get additionally from competitive intelligence you can create a successful corporate strategy. Based on competitive intelligence you’ll understand more about customers and competitors and you’ll know how you can effectively manage your company to decrease your risks and increase returns.

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For more similar articles, make sure to scroll through our Publications on Edana. Your Digital Consulting Firm in Switzerland can aid you with Marketing Strategy and Plans along with many other services to guide you step-by-step on the road to success.  

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The future of the Supply Chain with Collaboration Platform

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The future of the Supply Chain with Collaboration Platform

  • Tags Collaboration Platform, Supply Chain

Revolution of the Supply Chain

Supply chains are going through a huge revolution right now for numerous reasons. Most companies are going through digital transformation to become more successful and keep up with new trends and expectations that are in the markets now. So changes that are related to supply chains aren’t just trends that can pass. It’s a new reality and necessity.

Collaboration Platforms Create Beneficial Connections

One of the aspects that play a great role in the revolution of supply chains is related to collaboration platforms. They are connections between numerous participants and make them work together to accomplish more. In this case, stakeholders, different platforms, and applications could be mobilized in the distribution chain to create more smooth operations, which could be beneficial for the company.

These trends can unite every aspect and individual that is related to the supply chain. Companies are frequently investing in collaboration platforms right now to increase their productivity.

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Collaboration Platform as a Driving Force in Supply Chains

There are several reasons that made the collaboration platform a leading force in the revolution of supply chains. First of all, consumer demands are increasing a lot. Right now people actively participate in virtual realms. Instead of going out to shop, they might decide to see and order everything online. So the company must have software that will help them to adapt to all the changes that are going on quickly enough and will be useful for the supply chains as well.

Optimizing the supply chain will give you happier consumers and will let you be more successful with your target audience as well. Also, you might have many competitors that are actively using different digital options and technologies to improve their work. Falling behind by embracing traditional options that always seemed to work in the past isn’t an option.

Another reason is related to the purchasing process. Customers have their own demands and requirements and managing everything for them is very important. Because of these and many other reasons digital transformation is inevitable. In this case, you can use a collaborative approach for your supply chains to improve your work.

Reduced Costs and Increased Automation

A collaboration platform can be a great addition to your supply chain and also, can help you to go against more dynamic competitors. While you are going through the changes you should be focused on specific factors that could help you to increase your productivity and improve customer experience.

With this option, you can easily save your money as well. Numerous processes that were done manually and were time-consuming can be automated to reach new levels of productivity.

Internal Supply Chain Collaboration

In this case, you could actively use tools that would make communication between your team members more efficient. You could make them work on multiple projects easily as well. There are lots of benefits here. For example, all of them would be able to have a better understanding of the supply chain, what could be a problematic factor there and what’s the solution for reducing costs.

It would be easy to track order progress and shipping and would be great for customer experience as well. As a final result, you’d eliminate numerous obstacles, and make the entire product lifecycle more visible.

External Supply Chain Collaboration

In this case, you can use the tools that would make communication easy for you all over the world. You’d be able to share data and strategic information with your outsourced partners as well. You’d be able to use a digital platform here that would make dealing with numerous tasks easier for every person that’s involved in your company and plays a significant role in supply chain management. With this option, you’ll ensure that everybody is on the same page and has information about crucial aspects that play a great role in the development of your supply chain.

Significant Strategic Gains

Supply chains that are improved based on modern trends can create new opportunities for different businesses, including different warehouses, transportation companies, distribution centers, e-commerce companies, etc. This is an additional option that could help you to boost your business. You’d be able to develop unique services, improve customer experience and gain a competitive edge that could help you with your brand standing.

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For more similar articles, scroll through our Publications on Edana. Our Digital Consulting Firm in Switzerland can help you to develop your supply chain system and help you with different Business Models and Planning as well.

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5 Digital Agency Pricing Models in Switzerland and How They Differ

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5 Digital Agency Pricing Models in Switzerland and How They Differ

  • Tags Digital Agency in Switzerland, Digital Agency Pricing Models, Pricing Models in Switzerland

Figuring Out Pricing Models

All the pricing models have their pros and cons. Most companies from Switzerland try to use models which would have more benefits for them and their clients as well. Looking for a perfect option is a long and tiring process. But when you want to choose a Swiss digital agency that will provide you with well-known Swiss quality, you need patience and consideration of many factors.

First of all, you have to look for an agency that will understand your needs and will have enough power to provide you with specific types of services. Keep in mind that there are several more frequently used pricing models that have many benefits, but you have to make sure that they are well-aligned with your business goals and requirements.

Important Factors for Pricing Models in Switzerland

Understanding a little bit more about pricing strategies that you might come across in Switzerland is essential. It will give you an idea about how much you have to pay, why you need a certain amount of money, and how the whole hierarchy of pricing models could benefit you. Pricing models can be used as a very interesting roadmap that can clarify many important aspects for you.

You might pay based on how much time a digital agency needs to put into your goals. It could be related to specific outcomes as well. Like they could get money based on how many leads they converted for you with their strategies. It could be value-based as well. You just have to take into consideration what kind of project you have, and how much time and resources would be necessary to complete it. Then discuss these kinds of details with your Swiss digital agency to determine the best option for you.

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Hourly Rates

This model will consider how much time the agency staff needs to provide you with specific services and solutions. Everything depends on hours. People who work on your requirements get paid hourly. Also, it’s a more popular model because most of the people interested in digital agencies understand everything more easily.

This model is good for project management as well. But try to keep track of time. Make sure that the agency in this case won’t spend too much time on your project. This way you’ll do everything on time and will save money as well. During the working process, you might have a lot of questions, but generally, this is a very transparent pricing model. It can let you see how much money different agencies require and compare them. Just constantly monitor the time.

Fixed Project Rate

In this case, while dealing with agencies, you will know a fixed price for every project. Most of the time the overall price depends on the amount of time that the project needs for completion. This way you can know exactly how much money you need for everything.

It’s especially more useful when you have a set budget for certain projects. But keep in mind that some of the services that the agency could offer you additionally might be very beneficial for you and increasing the budget, in this case, could become the base of future success for you.

Unit Pricing Rate

This model is similar to the fixed-fee pricing model but is mostly focused on different deliverables and not the whole project. Also, agencies consider how much time, materials, and labor they would need to complete a project for you. More frequently unit price contract is used when the full scope of the project isn’t clear.

It works very well when the projects are about content, marketing, design, and development as well. You can discuss this topic with a digital agency to determine if this pricing model is suitable for your project or not. In the end, if you’ll think that your deliverable isn’t finished, you can just stop paying them. Evaluate the work that the agency did for you and make decisions based on that.

Performance Pricing

The performance pricing model is related to outcomes. Common examples include cost per click, cost per view, cost per lead, etc. In this case, a digital agency can determine conversion metrics as well for you, so you’ll know exactly how many Swiss customers you have, and how many foreigners get information about your company and projects. So basically, you’ll be paying based on results. Just make sure that the results are really perfect for you, not just for the agency. Consider that both of you might have different ideas about perfection.

Value Pricing

Value-based pricing is connected to the value of the work. In this case, Swiss digital agencies must have something unique for you. It could be a unique software, equipment, or capability to help you with different business models. They might have a strong team that can help you in numerous fields. Swiss digital agencies known for producing high-value outcomes use this model very frequently. Make sure that the unique aspect that made you interested in the first place, suits your goals and projects because a unique solution doesn’t mean that you’ll straight away break all the records. Sometimes you just need a very simple thing to reach absolute perfection.

What We Offer

For more similar articles, make sure to scroll through our Publications on Edana. Your Swiss Digital Agency is ready to provide you with Expert-Level assistance built on customer loyalty, progressive ideas, and dedication. Our Digital Consulting Firm in Switzerland accompanies all types of Swiss and International Companies and Organizations in their development. 

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The use of Cloud Computing in your Digital Transformation

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The use of Cloud Computing in your Digital Transformation

  • Tags Cloud computing, Digital Transformation

Importance of Cloud Computing

Cloud computing is very popular in today’s business world. It showed organizations how to manage computing resources differently, and how to store and share information better. Cloud computing can reward your business with numerous advantages and also, become the central part of your digital transformation.

You’ll be able to do many cost-effective, secure, and flexible operations. Also, you’d be able to control your quality better. You can have better loss prevention and disaster recovery factors integrated into your company as well. This way you can gain a better competitive edge, and go through the digital transformation process with more confidence.

Gain Flexibility for Digital Transformation

One of the biggest benefits that cloud computing has for digital transformation is flexibility. Gaining flexibility with cloud computing would be beneficial for you for many reasons. First of all, you’d be able to manage your investments better. For example, you could use the pay-as-you-go model to pay for the resources that are necessary for you. This model can help you to save money and optimize your investments.

You would be able to improve your agility as well. It would help you to operate more easily and would aid you with a successful transformation. You can increase your productivity as well because cloud computing can help you to get access to important information easily.

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Cloud Computing as a Cost-Effective Solution

When you want to update the whole infrastructure of your company and would like to consider cost-effective options as well, cloud computing is a great solution. It can help you to achieve brilliance with fewer resources and more quality. It’s used by many different types of businesses because instead of looking through numerous different options and trying out everything, you can just use all the benefits of cloud computing to get desired results.

For example, cloud computing is frequently used for websites as well and generally has great benefits for web development. So many important aspects of companies and the digital environment can be resolved very easily with this option. You can reduce operational costs, and maintenance and upgrade expenses. Also, you’d be able to reduce costs on networking and security as well.

Security with Cloud Computing

Security is very important for lots of companies, especially when they have big databases which contain fundamental information for them. With cloud computing, you can create multiple backups for your data. It will help you to go through the digital transformation process more smoothly. You have to consider several factors for your security. You have to set up user access control, implement identity access management tools, limit a bit of how data will be shared, etc.

Rapid Prototyping for Digital Transformation

In order to successfully transform your company, you need to constantly evolve and change. With cloud computing, your company will have access to a platform where you’ll easily build and try out new applications. You can do it without setting up complex infrastructures. Rapid prototyping can be used in many areas of business for many different reasons.

It can help you to eliminate assumptions and get clear answers. This way you’ll be more sure about the success of your digital transformation and any aspect that you’ll use for it. Testing and trying out new solutions can let you see what’s your pain point, what’s your advantage, and how you can update certain aspects to highlight all the positive qualities of your company.

Better Collaboration

The main purpose of digital transformation is to help you to move forward and let you leave everything that was holding you back in your past. Cloud computing helps you to get hold of any necessary file from any device, anytime. Overall this aspect helps you to create the kind of environment where collaboration is more than possible in and out of the workplace.

First of all, it can help you to improve your efficiency, because all the team members would be able to have access to the required documents. They would be able to work from anywhere and would accomplish certain tasks faster. Also, they would see easily what their team members did and when. This type of working environment is beneficial for most companies and their team members as well.

What We Offer

For more similar articles, make sure to scroll through our Publications on Edana. Your Swiss Digital Agency is ready to provide you with Expert-Level assistance built on customer loyalty, progressive ideas, and dedication. Our Digital Transformation Experts and Software Engineers from Switzerland can accompany you in your Digital Transformation right now.

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Why does Robotic Process Automation (RPA) play a crucial role in Digital Transformation?

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Why does Robotic Process Automation (RPA) play a crucial role in Digital Transformation?

  • Tags Digital Transformation, Robotic Process Automation, RPA

Importance of Robotic Process Automation (RPA)

Nowadays RPA is frequently used by different businesses to enhance their productivity and success. It’s a software technology that can help you to manage different software robots that imitate humans. Basically, the main idea of RPA is to let humans work on tasks that they do best, and let the robots do the rest. Combining the power of your team and RPA will improve your efficiency and reduce costs for the company.

You’ll be able to reach more goals, improve your business data security, and seize important and beneficial opportunities. Also, you’ll get a better understanding of more aspects thanks to your robots, and will be able to create a better customer experience. The benefits of RPA could play an essential role in the development of your business and in your digital transformation.

Robotic Process Automation (RPA) Changes the Game of Digital Transformation

RPA has too many benefits that can be used to successfully accomplish digital transformation. It can change the way of working for your team members. Also, it will let you understand more about different technologies that are actively used or are emerging right now. This way you’ll be able to follow the trends and get the maximum experience from the digital environment.

You can simply implement RPA in the areas of your business which need more attention. This way you’ll deal with every little issue regarding operational challenges that might come with digital transformation projects more easily. Also, you’d be provided with big data analysis features to understand more about how your company is performing and generally what’s happening on the market. This way you’ll make better decisions for the future.

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Strategize the Goals of RPA

RPA can be related to many complicated processes and technologies, so it’s best to determine from the beginning what you want to do exactly. It can assist you in your digital transformation but keep in mind, what areas you want to be concentrated on and what are the pain points of your business. Only after having answers to these questions will you be able to successfully implement RPA in your work.

For example, if you want to improve your customer experience, pay more attention to RPA opportunities that would help you to accomplish that goal. Imagine a scenario where customers are interested in certain products and want to receive information from your representatives. Logging into different systems to retrieve necessary information takes time. It’s not good for the customer experience. However, with RPA your robots can do everything automatically.

Automation Workflows

You need to have a plan which will contain information about the development of RPA in your company. RPA is a very effective solution. However, working on automation workflows that can be used well with your strategy needs good planning and consideration of many aspects. Automation tools take many forms, so it’s better if you’ll have everything sorted out. You will avoid many possible negative scenarios this way.

How You Can Use RPA for Your Company

RPA can be used in many ways in digital transformation and can greatly benefit your company. It can touch many great areas. You can use this solution for financial aspects. For example, process credit card purchases or compare insurance policies.

If you want to make your sales team highly productive you can use RPA to improve the quality of your CRM, automate data transfer between different systems, identify different obstacles in the sales funnel, prepare and send sales invoices, etc. This is just the beginning; you’d be able to use this solution for numerous areas in your company.

RPA Will Continue to Facilitate Digital Transformation

RPA is a solution that will help you to save time and will speed up your digital transformation while reducing the possible risks for you. You can use these software robots to work like your employees and let them proceed with similar actions.  RPA is still growing. So if it will be implemented in your company’s daily life, it could help you to accomplish many goals.

What We Offer

For more similar articles, make sure to scroll through our Publications on Edana. Your Swiss Digital Agency is ready to provide you with Expert-Level assistance built on customer loyalty, progressive ideas, and dedication. Our Digital Transformation Experts and Software Engineers from Switzerland can accompany you in your Digital Transformation right now.

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How can digital transformation affect modern marketing?

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How can digital transformation affect modern marketing?

  • Tags Digital Transformation, Modern Marketing

Marketing in the Digital Age

Digital transformation helps companies to grow and evolve. But the transformation process requires lots of attention and planning in order to end with desired results. When digital transformation and marketing are combined, most of the attention goes to fully harnessing the digital enterprise.

Basically, it means using technology to improve different business models. Using the principles of digital transformation in modern marketing could be very rewarding for companies and could help them find their formula for success.

Main Areas of Digital Transformation

There are several different areas where you can focus. You can implement new technologies to improve your processes with process transformation. You can go through a business model transformation or focus on domain transformation to have better online areas. For example, Amazon created Amazon Prime for that.  

Another important area is related to cultural and organizational transformation. Determine your company’s goals, try and focus on different areas and go through digital transformation step by step. It’s important to determine from the beginning what you need to do. It will help you to move more easily in the modern marketing realm.

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Benefits of Digital Transformation

Digital transformation can reward you with numerous benefits when it comes to modern marketing. It’s a solution that could help you to improve customer acquisition and retention levels, and help you with e-commerce operations as well. Digital transformation plays a great role here because with its help modern marketing can be more flexible.

Flexibility gives your business an opportunity to adapt easily to many different cases, like the changing needs and expectations of customers. You’d be able to respond to world trends better as well and you’d be able to go against your competitors’ actions more easily.

Benefits of Modern Marketing

Modern marketing is rapidly growing and evolving because most people are consumed with different technologies and spend most of their time being online on different platforms. It can give customers from all over the world different solutions. Since modern marketing is dealing with so many people, it’s only natural that digital transformation has numerous benefits for it.

Both of these aspects revolve around bigger groups of people and transforming organizations, so their combo sometimes is the greatest power for many companies. If you’ll adapt your marketing strategy based on digital transformation, you’ll be able to improve yourself more quickly. Also, you will be more agile and will have better interaction with customers.

The Digital Funnel

Digital transformation can affect the funnel a lot. The funnel generally includes several stages, like awareness, interest, consideration, intent, and decision. These stages give you an understanding of how customers think and what they do before they reach their final buying decision. With digital transformation, businesses can control these stages better to get desired results, because they’ll be armed with more important tools, like analytics for example.

Personalized Content for Customers

Having personalized content for individual customers is very beneficial. But the personalization process itself needs a great deal of attention. You’ll need to know what your customers are interested in, and what they are purchasing more frequently. Then you have to suggest something similar to them. When you are tracking every important aspect of your platforms you’ll always distinguish what’s more important and beneficial for you.

Importance of Data in Digitization

Data is very important for marketing and digital transformation as well. It helps your company to identify new opportunities and can help you to make better business decisions. Based on the information that you can get from your social media accounts you’d be able to improve your customer experience, become more innovative and improve your operational efficiency as well. You can also read one of our articles – “Which data to use for your digital transformation” to have more information about this topic.

Impact of Digital Transformation on Interactivity

Interactivity is an important aspect of the new digital era. Digital transformation transformed it in a very good way. It gave the customers chance to evaluate better what they would like to consume, how, and with whom they’d share this. For example, social media platforms allow you to have more communication with brands.

Right now interaction in online realms is very different and more engaging. It mostly evolved because of digital transformation. This type of interactivity is great for modern marketing and gives companies chance to increase their customer bases and improve performance.

What We Offer

For more similar articles, make sure to scroll through our Publications on Edana. Your Swiss Digital Agency is ready to provide you with Expert-Level assistance built on customer loyalty, progressive ideas, and dedication. Our digital transformation experts from Switzerland can accompany you in your Digital Transformation and also, orchestrate your growth by creating a Digital Marketing Strategy and Plan for you.

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The role of the customer experience in digital transformation

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The role of the customer experience in digital transformation

  • Tags Customer Experience, Digital Transformation

Digital Transformation as a Beneficial Solution

The importance of digital transformation is great. It is a beneficial solution when you are trying to grow your company, guarantee long-term success for it, and also want to benefit from new trends as well. Nowadays, being competitive in the market, and having great customer experience are mostly connected to digital transformation.

Also, you’d be able to develop future success with fewer obstacles. Digital transformation could be implemented in certain companies by their own representatives who think that it’s a good solution. However, there are numerous occasions, when companies start thinking about it because of their customers and their increasing expectations.

Benefits of Adopting a Digital Model

Digital transformation is a magnificent solution for numerous reasons. It’s a process that is driven a lot by customers. Customers are the life force for industries so improving their experience and meeting their needs is crucial.

With digital transformation you can expect improved operational efficiency, you can meet constantly changing customer expectations, improve the quality of your products and services, reduce product development costs, reduce the risks of having poor aspects, and achieve your goals more easily. To understand more about this topic, you can also read – “How can digital transformation boost your business”.

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What Customers Think About Digital Transformation

The role of customers in this process is great. Their requirements and expectations that change over time can’t be reached immediately if you don’t have a solution that will suit your immediate needs.

But the companies that go through this kind of transformation get highly engaged customers. These customers are more willing to try out new products and services. They are more likely to recommend you to their friends, family, and any other people they might know. Also, what’s more important, they will be more willing to purchase from you even when they’ll have less expensive options.

Digitally Conscious Customers

Customer experience has become the driving factor for digital transformation because digital improvement changed their expectations and habits. Different devices, apps, and platforms can fulfill all of their needs instantly and they are used to this already. This factor influences the persona of a modern buyer. First of all, customers judge organizations based on digital customer experience and then go through other factors.

Personalized Customer Experience

Personalized customer experience is a factor that is important for companies. Customers want to be seen as unique personas and not just to be a part of a group where they won’t be distinguished even with a single factor. They want you to know what are their requirements, and needs. Their purchase history, in this case, could be a great map that will give you direction.  You can even set up a CRM System to find and analyze important data about them.

Importance of Customer Experience in Digital Transformation

The role and importance of customers in any aspect related to the company are always clear. They are the driving force for numerous industries. There are several important factors that have to be considered. Customers require more digital solutions because most of their needs and expectations can be achieved more easily with their capabilities.

Implementing the digital solution in your industry would improve customer experience tremendously, but you have to keep in mind that those two topics are very connected to each other. They revolve around each other and it’s hard to distinguish which one is starting the cycle of success for industries. They are important and together they create a great source of power.

Digital Transformation Journey

While thinking about customer experience and digital transformation, try to determine what you want to achieve now, and what are your plans for the future, and go through your interests to be more ready for the digital transformation journey.

Having a more specific list of your own requirements and expectations will help you to choose technologies that best suit your needs, it could be any software or CRM. Also, the key to your improvement could be related to developing new apps. This way your customer experience can be greatly improved and you’ll gain a great place in a new digital landscape.

What We Offer

For more similar articles, make sure to scroll through our Publications on Edana. Your Swiss Digital Agency is ready to provide you with Expert-Level assistance built on customer loyalty, progressive ideas, and dedication. Our expertise includes Digital Strategy and Audit, Software Engineering, and many more.

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Complete guide of value stream mapping

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Complete guide of value stream mapping

  • Tags Value Stream Mapping

Importance of Value Stream Mapping

The importance of value stream mapping is related to many factors for companies. It’s a way that can help you to visualize the steps that are crucial for a product’s production path from supplier to consumer. With a good value stream map, you’ll be able to identify areas and processes that can help you achieve better outcomes at less price, in less time, and in a safer work environment. A value stream map can be divided into several segments.

Production or Process Flow

In this segment of the value stream map, you’ll have a detailed description of production or your processes. This section will help you to have a clear image of what’s going on in the company. Any potential setbacks or other additional tasks as well should be visible here. With this segment, you’ll understand what are the main tasks or processes that happen more frequently and what are the ones that have less significance.

Information or Communication Flow

Any kind of communication that is related to the value stream should be visible in this segment. Those communications could be formal or informal but they are important no matter what and you need to put them on your map to use them in the future as well.

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Timelines and Travel Distances

Timelines mostly occupy the last part of the value stream map. Any kind of time-related data that also happens to be connected to process improvement can be found here. In this segment, some maps contain indications about the process lead time, cycle time, labor content, and travel distance as well.  In this case, travel distance can be related to people, work, or products.

Value Stream Mapping Symbols

After understanding segments that have to be included in a good value stream map, you’ll need to take a look at the symbols as well. They are standard symbols that can be used to draw up a clear map. However, you can create your own symbols as well to have a better understanding of everything. You just have to know what they represent and match them to the needs of your company.

Types of Symbols for Value Stream Mapping

You can set up processes, materials, and informational symbols. You can set up icons for customers and suppliers. Also, have symbols for continuous material flow through a department. Add data box icons as well which will be related to the data that is needed to observe the whole process, like the quantity of waste or cycle time.

Material symbols could be related to inventory icons, shipment icons, supermarket icons, etc. Informational symbols will be related to production control icons, manual info icons, electronic info icons, etc.

Preparation

The preparation process is very important. You’ll need a capable team who will do the mapping process according to all the requirements. At this stage, your team should determine essential objectives, and what’s important for your business. Then create a plan that could help you overcome potential problems.

You’ll need to gather lots of information as well about many different aspects to be as ready as possible. After determining the number of your team members and their responsibilities, go through products and services as well, measure demand, etc. Make sure that during this process you’ll identify possible obstacles and the ways of dealing with them. It will help you to get the best results.

Current State Map

In order to do a current state map, you need to gather information about the product’s production path. Basically, you have to follow your product on its path. You can pay attention to several factors, like how many people work in the process, how many tasks they can accomplish during the day, what’s the number of product variations, etc. After you go through these kinds of aspects, you are ready to create a current state map.

Future State Map

After taking care of a current state map you can start working on the future state map. By that time, you’ll have a better understanding of the areas that are dealing with overproduction. Also, you will know more about waste in the current production system. 

Planning and Implementation

After considering all the above-mentioned factors that are important for value stream mapping, you can start working on an action plan. It will help you to implement an ideal production path. Generally, after implementing a future state map you can create more improved current state maps. To get better results you follow this cycle.

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The transformation of Supply Chains with Machine Learning

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The transformation of Supply Chains with Machine Learning

  • Tags Machine Learning, Supply Chains

Importance of Machine Learning in Supply Chains

All big industries have great goals, but they have to deal with challenging situations and a competitive environment as well. In this case, implementing technological solutions can resolve numerous issues. They can help you overcome competition, deal with different situations, and also help you to turn your ideas into reality.

Machine learning and AI are the solutions that can give you better results. Using machine learning in supply chain management can help you to automate numerous tasks. After that, you can have more time to redirect all of your energy to other impactful business activities and strategies.

Predictive Analytics with Machine Learning

There are several benefits that could be gained from machine learning. Machine learning models are great for demand forecasting. These models can identify important aspects regarding demand in historical data and can offer you clear predictive analytics. 

Machine learning can find different issues as well in supply chains from the beginning to avoid problems in the future.  In this case, your business will be equipped with great intelligence to deal with emerging issues.

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Automated Quality Inspections for Robust Management

In order to make sure that nothing will disrupt the supply chain lifecycle and that everything is in perfect condition you’d need to check some things several times. Your feelings about this process could be transformed with machine learning. Machine learning-enabled techniques can easily detect defects via image recognition. In this case, you’ll reduce the chances of delivering damaged goods to your customers.

Improved Visibility and Customer Experience

Machine learning techniques can be used to increase the visibility of supply chains as well. Based on that you can transform your customer experience. Machine learning can analyze historical data from different sources and discover connections between different processes that are related to supply chains. Amazon is using machine learning techniques as well to create great customer experiences for its users.

Streamlining Production Planning

Production plans sometimes can be very complex, but with the help of machine learning techniques, you can sort out these kinds of aspects as well. You’ll be able to identify the areas that lack efficiency and need more work easily. The main goals here are to reduce waste and improve quality. Machine learning can help you to create an adaptable environment for supply chains, where every issue or disruption will be dealt with immediately.

Warehouse Management

Machine learning in supply chains can solve numerous problems, like understocking or overstocking issues. It can transform your warehouse management system for the better. This type of solution is more beneficial because you can see almost every important point, which could have been missed with the human eye.

Advanced Last-Mile Delivery

Last-mile delivery is one of the most critical parts of a supply chain. It’s a journey, which products go through from the warehouse shelf to the customer’s doorstep, so it’s crucial to pay special attention to this aspect. But with machine learning, you can control this process more easily. You can explain to your customers as well where their products are right now, how long they have to wait, and update them about every little aspect.

Fraud Prevention

You can decrease the chances of fraud as well by automating several important processes, like auditing processes, doing analysis, and then evaluate what are the factors that might be dangerous or not so beneficial for you.

How to Use Machine Learning in Supply Chains?

There are numerous companies out there that have transformed their supply chains with the aid of machine learning techniques. For example, the supply chain system of Microsoft is very impressive for several reasons, out of which the most important ones happen to be related to machine learning and artificial intelligence.

Since Microsoft has a huge customer base and numerous products, they need ways that will help them to evaluate data properly, analyze it, and make sound conclusions. That’s what machine learning techniques help them with. Their supply chains get a warning very quickly as well when there seems to be a problem.

So the transformation of the supply chain for the better is more than possible with machine learning and can help you achieve exceptional results. You just need to make sure that you have clear goals and are ready for another successful transformation in your company.

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The use of artificial intelligence in Supply chains

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The use of artificial intelligence in Supply chains

  • Tags Artificial Intelligence, Artificial Intelligence in Supply Chains, Supply Chain

Artificial Intelligence is a “Game Changer”

Artificial intelligence truly is a “game changer” for different industries. Since supply chain management is critical for any business and requires lots of planning and monitoring. Because of that, you’ll need additional tools to get desired results.

Your company has to keep up with new emerging standards and stay competitive in the market. Using artificial intelligence in this case will provide you with additional tools to manage and optimize your operations. You’ll be able to forecast demand, predict outcomes, optimize routes, manage inventory, monitor your security and automate different tasks.

The Future of AI in Supply Chain Management

Designing your company in a way that will make it a winner in your industry is more than an achievable goal when you are armed with the right options and necessary tools. Managing your goods and services is important in order to meet customers’ needs and stay ahead of the competition. That’s where AI can aid you.

AI could help you to work more efficiently, because it will help you to accomplish many goals and tasks, like inventory management tasks and route optimization. It can help you to monitor and manage your supply chains, get valuable insights for decision-making, and generally will help you to develop more effective supply chain operations.

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AI and Advanced Robotics in Supply Chains

Artificial intelligence can play a crucial role in advanced robotics, which in turn is very important for supply chains. Artificial intelligence and advanced robotics can be mixed up with each other to take care of order picking, packing, and transportation. It will reduce labor costs and will help you to do everything more efficiently. It’s a great solution because it gives you more security, control, and visibility.

Efficient Operations and Reduced Costs

Artificial intelligence is very useful in order to improve efficiency in your operations. It can automate numerous tasks for you, including demand forecasting, route optimization, and inventory management.

You’ll be able to do numerous tasks more easily and also improve your general performance. Another advantage here is that you’ll have reduced costs because artificial intelligence can help you reduce labor and transportation costs.

Increased Revenue and Improved Decision-Making

By improving your efficiency in different operations and reducing costs, you’ll be able to increase your revenue as well and see a bigger improvement in your company. Also, you’ll be able to understand more about new patterns and trends in your industry. AI will monitor them for you. The information that you’ll get will be more than enough to be used for strategic decision-making. It will give you the chance to set up new goals and will let you expect success with confidence.

Improved Customer Service

Using artificial intelligence in supply chains will reward you with numerous advantages. There are several factors that can have a positive impact on your image in customers’ eyes. It’s very obvious how you can benefit from AI. Since AI lets you monitor every aspect of your supply chain, and updates you about everything, you will definitely improve customer experience.

Having so much knowledge and tools that can manage and monitor everything for you will help you to interact with your customers more productively. For example, if your customers want information about certain products and when they will be delivered, you’ll check very simply where they are located now and when they will reach their final destination.

How to Use Artificial Intelligence in Supply chains

There are numerous examples in the whole world that highlight the importance of artificial intelligence for supply chains. In order to understand more about the supply chains themselves, you can read one of our articles – “What are the Different Types of Supply Chains”.

AI algorithms can analyze historical data and predict future demands. Also, it can analyze data about traffic, weather, and other factors, and determine the best ways for delivering trucks. It will help you to reduce transformation costs and improve delivery times.

It can be used to improve warehouse operations as well since you’ll be able to automate more tasks. It can monitor and analyze data to identify potential breaches in your security.

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