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Digital technology - Coggle Diagram
Digital technology
e-commerce
new placement methods
wider market reached
reduced rent
logistics required
initial expense
hard to gain brand awareness
Enterprise Resource Planning
initial cost
cash outflow
integration of functional areas
greater efficiency
lower average cost
communicating with suppliers
ordering inventory
stock levels
arranging supplier payment
payables days
better customer service
match supply to demand
CAD CAM robotics
initial expense
ARR
reduce lead time
first mover advantage
reduce waste
lean production
better quality
competitive advantage
Big data
Data mining
market research
market analysis
correlation
extrapolation
confidence intervals
predict future social trends
allows market segmentation
sales forecast and better budgeting
GDPR and legality