Operations and Digital Business

Operations and Digital
Business

Table of Contents
MAIN BODY..................................................................................................................................3
1: 4th industrial revolution............................................................................................................3
2: Supply chain management.......................................................................................................4
3: Lean strategy enhances overall performance and sustainable competitive profile..................6
4: Challenges faced by organization............................................................................................6
REFERENCES................................................................................................................................8

MAIN BODY
1: 4th industrial revolution
4th industry revolution describes the changing ways of doing business by integrating physical,
biological and digital world with the help of advanced robotics, AI and several technological
advancements for describing the ways of doing business. Technology is changing the ways of
doing business which can be seen in case of industry revolution in which businesses are showing
high amount of involvement in increasing the use of renewable energy sources like solar,
geothermal and wind energy (Teng and et.al, 2019). Due to this effective utilization of renewable
energy sources organizations are able to fulfil their requirement of energy consumptions by
which it can make efforts to reduce organizational expenditures. With that organizations are also
showing high interest in utilizing digital technologies like internet at their work place by which it
can improve its communication bridge with the customers and also provide remote access to
customers for utilizing organizational services remotely through which companies are able to
increase customer’s engagement in organizational activities because of which customer loyalty is
increased.