Current Issues

Regular Industry Development Updates, Opinions and Talking Points relating to Manufacturing, the Supply Chain and Logistics.

The Future of Consumption: A Question of Trust

31-Jan-2018
The Future of Consumption: A Question of Trust
As a boy growing up in Hong Kong, I often joined my father on business meetings. These meetings typically took place in restaurants in Kowloon, loud, crowded, and smoky, where deals were sealed over rice wine. Trust was established.

Today the noise is online — deals are made with the click of a mouse rather than the tinkle of glasses. In digital, trust is equally required for trading to flourish.

At Davos this week, global leaders are discussing the future state of business. Trust has been eroded in many parts of the global economy. Governments are taking actions, like introducing GDPR, which gives control of data sharing back to consumers. Corporations like BlackRock are now beginning to link investment decisions to social action by businesses.

Governments and businesses have a responsibility to add trust again in the global economy. It is as good for consumers as it is for business growth. Technology is critical in making this possible. I believe we have a responsibility to contribute to economic growth and social inclusion by matching disruptive technologies to new models of consumption.

At SAP Ariba, we saw how the fight against human trafficking begins with sourcing. Everyone on the supply chain is impacted by human rights abuses in the supply chain all the way to the retail store. Transparency in the supply chain adds trust. At SAP Hybris, we know a thing or two about commerce and retail. We know that consumers want their identities and data protected but expect simple, seamless, and tailored experiences, no matter whether they are buying shoes or a health insurance policy.

What excites me most about my new role as president of SAP Hybris? The topic of top-line growth and changing consumers is of course at the heart of the digital transformation. But I am also excited about our role in establishing trust between businesses and consumers. As billions of new consumers will be joining the global economy, our responsibility as SAP is to enable sustainable commerce for our customers and support the circular economy to achieve our mission to make the world run better and improve people’s lives.

In fact, the front office is at the core of the digital transformation. No part of the technology world is changing faster than B2C. The way people engage with brands has the potential for so much disruption and ground-breaking technologies like artificial intelligence and IoT are already transforming business and operating models. Robots in retail? It’s happening now. Smart traffic solutions to China’s densely populated cities? Check!

Back in the 1970s in Hong Kong, did anyone really suspect the door to the Middle Kingdom would not just crack, but burst open to a world of innovation? Today, my peers across government and industry agree about the potential for technology to offer sustainable benefits for business and society across both developed and emerging markets. Do you agree? Let me know.

Selecting the best Transport Management System - One of the most important logistics decisions you’ll make
6 days ago
“Digital Transformation” and Supply Chain Planning
6 days ago
Coolest Advice for Making Blockbuster IoT Devices?
6 days ago
The Fall of ‘Made in China’
1 week ago
How can artificial intelligence help the food industry?
1 week ago
Streamlining Operations With Waveless Picking
2 weeks ago
Creating a common standard for the fashion supply chain…
3 weeks ago
5 Steps to Improve Your Business’s Supply Chain
3 weeks ago
Procurement is joining the dots with technology to achieve greater strategic benefits
3 weeks ago
Don’t get red-carded shipping World Cup items into Russia
3 weeks ago
Trash talk: how waste management could become an engine for business growth
4 weeks ago
Could consumers drive a business tech revolution?
4 weeks ago
Jungheinrich Opinion: The Connected Engineer
1 month ago
Debunking the myths of the Hybrid Cloud
1 month ago
How to Future-Proof a Retail Business
1 month ago
How Enterprise Label Solutions Streamline Supply Chain Management
1 month ago
Ignorance 4.0? UK manufacturing and engineering competitiveness at risk from lack of knowledge
1 month ago
Untangling S&OP and S&OE
1 month ago
The ghosts of retail past, present and future
1 month ago
How to safeguard customer loyalty using digital platforms
1 month ago
The last mile starts with a single step
1 month ago
How citizen developers can speed up business app development
1 month ago
RFID – The missing link in customer insight
1 month ago
Turning blockchain into a real supply chain advantage
1 month ago
Achieving a Sustainability-Centric Retail Model
1 month ago
Gartner Says Global IT Spending to Grow 6.2 Per Cent in 2018
1 month ago
Monster opportunity: the Vampire Economy will take wings this year with late night deliveries
1 month ago
Falsified Medicines Directive: What are the practical considerations for wholesalers and Logistics Partners?
1 month ago
UK manufacturing sees solid growth in March
1 month ago
Elevating IT in financial services
1 month ago
The best, not the biggest
1 month ago
Addressing SME GDPR Misperceptions
1 month ago
What it’s like to be a woman in logistics
1 month ago
Building the Business Case for Digital Transformation of Supply Chain Planning
1 month ago
Is artificial intelligence fiction or fad?
1 month ago
Ecommerce Returns Best Practice: How to minimise Lost Profits and maximise Customer Satisfaction
1 month ago
How the connected distribution centres are helping organisations keep consumer demand at bay
1 month ago
Latest ONS figures show online stores continue to eat the High Street’s lunch’, says ParcelHero
1 month ago
SAP HANA Enterprise Cloud: A Strong Pillar of SAP’s Strategy
2 months ago
Food for thought: time to trim the waste line
2 months ago
Redefining supply chain visibility
2 months ago
Questions to ask yourself before investing in business management software
2 months ago
How the Tariffs Will Impact Supply Chain Execution
2 months ago
Ethics and the supply chain
2 months ago
Spring Statement Summary – The Good, The Bad And The Ugly
2 months ago
Four ways the UK retail supply chain differs from the rest of Europe
2 months ago
What Is Planning?
2 months ago
Only 6% of companies believe they've achieved full supply chain visibility
2 months ago
Why are some businesses slipping up when it comes to Health and Safety?
2 months ago