The Digitalization of a Commodity Organization

Before we can discuss what a digitalization strategy might look like for a Commodity Trader or organization in the Commodity Supply Chain, we have to first try to understand and define what Digital Transformation truly means. Digitalization, digitization, digital transformation and the multitude of other derivations of the latest technology buzz word, can be seen across the websites and white papers of many software and IT service organizations. Specifically in the CTRM industry, digitalization has been used to describe many products and strategies further blurring the lines of what a digital transformation means. THE MEANING OF DIGITALIZATION & THE ROLE OF THE CTRM: Digitalization or a Digital Transformation is the application of digital technology to an organization’s processes, products and systems in order to improve efficiency, manage risk, maximize data utilization, and lower costs all in an effort to affect the bottom line or monetize new opportunities. So the question which needs to be asked is; can a CTRM solution be the answer to digitalization or are we seeing the overuse and dilution of a powerful transformation initiative? CTRM systems have been around for far longer than the digitization trend. Then why only recently are we talking about CTRM systems… continue reading

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Source: CTRM Center

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