The Evolution of Commerce by Data

If you haven’t been hiding under a rock, you’ll likely see or hear some mention of how technology pushes forward the evolution of commerce on a daily basis. Do any of these references sound familiar?

• The Age of Digital Transformation
• The Speed of Change
• The Age of I

Although these references are now commonplace, what exactly do they mean? Check out these fast facts to see how rapidly technology has changed:

• Nine years ago, the first Apple iPad debuted
• Eight years ago, the first commercial spaceport was built
• Seven years ago, smartphones and tablets received a quad-core
• Six years ago, the first gene therapy was created in the western world

The level of change and innovation that has happened between 2010 and today shows a monumental shift in transformation, which has been driven by consumer expectations. In 1960, cost was the primary focus. In 1980, consumers wanted quality. Today, consumers are driven by speed and instant gratification.

Amid all the technology changes, EDI continues to advance. EDI volume and usage are estimated to grow to 5.9 billion by 2025. Technology company Intel, stated, “Data and insights remain elusive. A common thread we’ve heard is around how accessing data—much less sharing it across systems—could be nearly impossible. The data that exists is often in silos. Not in common formats, batch and not streamed. Potentially not accessible to the end-users at all.”

I had the privilege of attending NEECOM’s fall conference last week, and it’s clear that visibility and accessibility to data remains an issue that will only continue to grow as companies begin to utilize EDI even more. Ledger technologies, such as blockchain, are now working synergistically with EDI as an extension, not as a replacement. Retail giants like Walmart have begun food traceability initiatives to allow their suppliers to send their EDI data onto the blockchain. The one requirement is that the suppliers must be able to send ASNs using the standard EDI protocol.

Amidst all the technology disruption and transformation, EDI remains a key component of the supply chain. Companies today must keep up with the pace of the speed of change and be proactive with their data. Full end-to-end visibility is no longer a nice to have, but an essential.

So, how do you ensure your supply chain is able to keep up with the constant changes?

Syncrofy was created to help support technology changes by enabling you to easily and quickly locate and interpret your data to make it actionable across your supply chain. To discover the power of Syncrofy and how it plays a pivotal role in the age of digital transformation, visit www.coenterprise.com/syncrofy.