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.
Blockchain discussion is everywhere. Starting in 2017 when the concept gained momentum, many industry-wide applications have emerged. The decentralized ledger technology that is the basis of blockchain has brought scalability, enhanced speed of transactions and improved security and will, without doubt, transform the world. With these advantages, industry leaders are now exploring possible ways that they can use this technology to their advantage.
The rise of IoT will significantly change many industries. However, companies that use IoT devices have faced various challenges mainly due to high cost of these devices. Companies in inventory and supply chain management have in the past experienced increased spending, and this is likely to go on between now and 2023. The increase in spending will result from new models of business that include software and products-as-a-service. The reduced cost of IoT sensors, increased connectivity and emerging software will be the leading areas that manufacturers will take advantage of going forward.
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