Innovative and Agile Contracting for Digital Transformation and Industry 4.0
Mohammad Ali Shalan, "Innovative and Agile Contracting for Digital Transformation and Industry 4.0 "
English | ISBN: 179984501X | 2020 | 415 pages | PDF | 6 MB
English | ISBN: 179984501X | 2020 | 415 pages | PDF | 6 MB
Digital transformation is reshaping the business arena as new, successful digital business models are increasing agility and presenting better ways to handle business than the traditional alternatives. Industry 4.0 affects everything in our daily lives and is blurring the line between the physical, the biological, and the digital. This created an environment where technology and humans are so closely integrated that it is impacting every activity within the organizations. Specifically, contracting processes and procedures are challenged to align with the new business dynamics as traditional contracts are no longer fitting today's agile and continuously changing environments. Businesses are required to facilitate faster, more secure, soft, and real-time transactions while protecting stakeholders rights and obligations. This includes agile contracts which are dynamically handling scope changes, smart contracts that can automate rule-based functions, friction-less contracts that can facilitate different activities, and opportunity contracts that looks toward the future.