April 2024 | Henry Ejiga Adama, Oladapo Adeboye Popoola, Chukwuekem David Okeke, Abiodun Emmanuel Akinoso
This paper explores the economic theory and practical impacts of digital transformation in supply chain optimization. It examines how digital technologies such as big data analytics, artificial intelligence (AI), and blockchain are reshaping traditional supply chain models, enhancing efficiency, reducing costs, and mitigating risks. The authors delve into the strategic interactions among supply chain stakeholders using game theory and discuss the tangible benefits of digital transformation through case studies. However, they also highlight challenges such as cybersecurity threats, data privacy concerns, and integration complexities of legacy systems. Future trends, including blockchain integration, IoT applications, and sustainability initiatives, are identified as promising areas for further advancements in supply chain optimization. The paper emphasizes the importance of ongoing research and adaptation to fully harness the potential of digital transformation in reshaping the future of supply chain management.This paper explores the economic theory and practical impacts of digital transformation in supply chain optimization. It examines how digital technologies such as big data analytics, artificial intelligence (AI), and blockchain are reshaping traditional supply chain models, enhancing efficiency, reducing costs, and mitigating risks. The authors delve into the strategic interactions among supply chain stakeholders using game theory and discuss the tangible benefits of digital transformation through case studies. However, they also highlight challenges such as cybersecurity threats, data privacy concerns, and integration complexities of legacy systems. Future trends, including blockchain integration, IoT applications, and sustainability initiatives, are identified as promising areas for further advancements in supply chain optimization. The paper emphasizes the importance of ongoing research and adaptation to fully harness the potential of digital transformation in reshaping the future of supply chain management.