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Exploring the Impact of Digital Transformation on Supplier Relationship Management

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Submitted:

27 November 2024

Posted:

28 November 2024

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Abstract
The research examines the effects of digital transformation on supplier relationship management, particularly in the context of Bangladesh. As digital technologies become more vital to corporate operations, they have profoundly altered the ways in which companies interact with their suppliers. The research examines the use of technologies like cloud-based platforms, ERP systems, blockchain, and automation to enhance communication, facilitate collaboration, build trust, increase transparency, and optimize efficiency in supply chain operations. The study used qualitative approaches, conducting interviews with 36 firms across several industries in Bangladesh, emphasizing the opportunities and challenges linked to digital transformation. Crucial findings highlight the significance of digital technology in facilitating real-time communication and information distribution, hence enhancing strategic partnerships and collaborative approaches in supply chain management. The study underscores the importance of digital technology in improving transparency and accountability via enhanced tracking and monitoring of supplier performance, hence bolstering confidence among stakeholders. However, the research also emphasizes challenges such as resistance to change, inadequate technical expertise, and financial constraints, particularly for smaller businesses. These barriers hinder the full use of digital technologies in supplier relationship management. The analysis demonstrates that, despite hurdles, the advantages of digital transformation are clear, offering significant opportunity for companies to enhance supplier relationships, reduce costs, and strengthen resilience in an increasingly competitive global market. Continuous investment in digital infrastructure and training will be essential for companies in Bangladesh to fully use the benefits of digital transformation in their supply chains.
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Subject: Business, Economics and Management  -   Business and Management
Copyright: This open access article is published under a Creative Commons CC BY 4.0 license, which permit the free download, distribution, and reuse, provided that the author and preprint are cited in any reuse.
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