What is a Digital Business Network?
A digital business network is a community of business partners that work together to satisfy customer demand.
In contrast to a supply chain that provides sequential links, the term digital business network acknowledges the complexity of today’s global business and connects all constituents – suppliers, manufacturers, and logistics partners together – and enables two-way, three-way, and multi-party communications. The traditional supply chain model has severe limitations as the sequential order does not allow real time information to be shared across all of the constituents. This creates problems such as the “bullwhip effect,” and requires excess inventory at every step of the supply chain to buffer the lack of visibility.
One Network’s Perspective on Digital Business Networks
One Network provides a multi-party business network with thousands of member companies that facilitates a community of business partners to share information, conduct business, and collaborate in real-time to satisfy customer demand. One Network facilitates business communications with a hub-to-hub network model, versus a hub-and-spoke model or point-to-point solution. A network-based approach enables companies to leverage a single version of the truth and share real-time data across all parties. In turn, all the companies on the network become more agile and can respond more quickly and efficiently to satisfy customer demand.
Digital Business Networks Resources
You need to stand conventional thinking on its head! The place to start is with the targeted business outcomes you want to achieve – namely delivering the “right product, at the right time, at the right quality, at lowest cost,” and then determine the supply network variables and flows required to achieve that optimal business result. Find out how One Network helps you achieve it.
ChainLink Research’s new report, Supply Chain Networks Revealed, examines the breakthrough business strategy employed by leading companies, and that is winning in today’s fast moving and hyper-competitive global landscape.
This report from IDC examines the importance of multi-enterprise supply chain commerce networks, with a comprehensive evaluation of MESCCN leader, One Network Enterprises.