With shoppers finding much of what they want online, the future of the brick-and-mortar store can seem bleak. Such major retailers as J.C. Penney, Lowe’s, Gap and Family Dollar, among many others, have announced plans to close at least some stores across the United States this year.
The retail industry has been going through a raft of significant changes since the last decade. These changes have been occasioned by the increased internet access and the rise of artificial intelligence, virtual reality and robotics, all of which have proven helpful in many industries. As we move into the future, many technologies keep coming up and the industry will no doubt be revolutionized for the better. The changes will, without doubt, change retail as we know it to a completely different one going forward and you can expect these changes starting now.
In the current connected world, the supply chain faces a wide range of threats, both physical and cyber. The two have different implications for organizations. While physical threats can be more obvious and blatant in supply chains, cybersecurity threats are less noticeable and highly unpredictable and as such, they can cause massive damage to an organization. Think of terrorists attacking oil infrastructure and interfering with the supply chain. This is supply chain terrorism that is now one of the worst crimes. For this reason, the Federal Communications Commission has come up with new rules that regulate telecommunications devices that are used in the US. The recent action included the reduction of telecom infrastructure from China. This move is geared towards identifying, evaluating and addressing transactions that involve these hardware devices.
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