Bernardo Nicoletti

Temple Univesity · Rome, Italy, Campus

http://pmworldjournal.net/wp-content/uploads/2016/02/pmwj43-Feb2016-Nicoletti-resilience-and-outsourcing-featured-paper.pdf

Purpose The logistics industry has undergone a tremendous transformation. This transformation is necessary to cope with the fundamental changes in customer expectations and the need for digitalization imposed by the pandemic, changes in the socioeconomic world, and innovative technology solutions. This paper aims to present digital transformation a...

The logistics industry is undergoing a profound transformation to cope with the fundamental changes in customer expectations and the need for digitalization imposed by the pandemic, changes in the socio-economic world, and technology. This research paper addresses the use of Digital Twins in the logistics industry at the network, site, and asset...

Purpose—The sale of physical products has been manufacturing companies’ main revenue source. A trend is known as servitization for earning revenue comes from services. With the convergence of servitization and digitization, many manufacturing organizations are undergoing digital servitization. In parallel, the digitization of industry is pushing ne...

In organizations, it is vital to reach the customer. For this reason, logistics is considered an essential function in organizations. A general definition of logistics includes planning, production, purchasing, transportation, storage, loading and unloading, handling, packaging, processing, distribution, control, information processing, and traceab...

This chapter considers the third fundamental component of supply network 5.0 connected with resilience and agility. It also considers the emerging management challenges to take care of the possible disruption of the supply network 5.0.This chapter considers two critical characteristics of supply network 5.0: resilience and agility. It details a cri...

This chapter provides a direct answer to this book’s objectives. It considers the SCOR framework, a tool helpful in defining how a supply network 5.0 organization creates and delivers value, and presents its structure and applicability to organizations. It is necessary to accurately examine and describe each building block that composes the extende...

This chapter includes the general and specific conclusions of this book. This book presents in detail the three fundamental aspects of supply network 5:0: Human centricity and collaboration human-automation-machine. Sustainability. Resilience and Agility. The book presents the leading solutions concerning augmented intelligence, data science, machi...

This chapter analyses the main characteristics of a supply network 5.0, its most important stakeholders, its fundamental functioning nodes, its most noticeable risks, and matters of concern. This chapter considers these issues based on an extended Supply Chain Operations Reference (SCOR) Model v12.0, developed by the Supply Chain Council. The SCOR...

This chapter examines the implications of extending the concept of industry 5.0 from single organizations to supply networks. It analyzes the first and principal component of the supply network 5.0 framework: the human-automation-machine collaboration. The aim is to adequately address the most prominent elements of the supply network 5.0 framework...

This chapter deals with industrial revolutions. It sets the context of industry 5.0 for the supply network 5.0. It also underlines the concept of digital transformation. It describes the leading technological solutions connected with industry 5.0. This chapter includes the emerging challenges these solutions and methods uncover and some advisable f...

This chapter deals with the second fundamental component of supply network 5.0: sustainability. It considers the green supply network management and the relationships of green supply with the SCOR framework. It details the challenges of a circular economy and responsible automation. This chapter defines a Sustainable Supply Network Management (SSNM...

This chapter considers the supply network 5.0 project and the innovation models to help realize it successfully. It also considers an innovation acceptance model to analyze all stakeholders’ critical success factors connected with the acceptance of supply network 5.0.This chapter considers the project for the supply network 5.0 transformation. A pr...

Purpose-This paper aims to define a set of best practices on how organizations should apply Design for Six Sigma (DFSS) to servitization for different service processes. Servitization refers to a manufacturing company offering services connected to its physical products. To survive in the global competition, it is essential to design new services t...

Book Abstract Enterprise management theories about the so-called bionic organization currently face a significant funding gap. Bionic theories have been mainly applied to enterprise lifecycle because of the presence of similarities between economic organizations and organisms. The digital transformation has originated relevant advancements in bioni...

This chapter considers the project for the bionic transformation. A project is the basis of any innovation, which is critical to overcoming the present economic and financial crisis. Actionable knowledge on how to improve innovation and bring value to the customers and organizations is essential. There have been many attempts to apply methods to th...

Blockchain technology is one of the most vital and exciting technologies available today. It can transform the business world and the organizations' functions. It offers several possibilities to flourish existing businesses, grow entirely new ones, and severely disrupt traditional organizations. This chapter aims to study the applications of blockc...

Previous research applied the bionics discipline to the study of organization management. In the 1960s, scholars have conducted studies about organization bionics, which mainly aimed to develop new models about business age and organization life cycle. Further contributions in bionics appeared, dealing with the development of bionic operating syste...

The chapter analyzes in detail bionic banking across the banking life cycle. It starts with the bionic business model’s support to customer acquisition, credit decisioning, monitoring and collection. The chapter deepens the relationships with wealth management and intelligent servicing. The chapter also analyzes the characteristics of the bionic in...

This chapter presents in detail the business model canvas for bionic enterprises. It describes in detail its twelve components and their implementation in financial services. It starts from the philosophy of a bionic organization moving to its customer value proposition and proximity. It details the optima place and distribution accesses and the ma...

This chapter introduces the concept of the bionic banking transformation. It starts with the birth of the concept out of the business model philosophy. This chapter defines what a bionic transformation and its drivers and impacts are. This chapter also presents the advancement of the bionic transformation and its potential effects in the short and...

This chapter describes the history of bionics and its fundamentals. It introduces the concept of Bionic Financial Services, including the development of fintech organizations and their categories. It classifies the waves through which fintech organizations have developed over time. The chapter also describes the potential new development of fintech...

This chapter describes the research background and study objectives for this book. It briefly reports some research questions, summarizes the research method, and illustrates the book structure.In the original concept of bionic, the relationship considered was between persons and machines. In the case of banking, the relationships considered in thi...

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This chapter defines the goals of banking 5.0 and its relationships with industrial and social developments. Banking 5.0 is a powerful engine, and starting point of the customers’ changes increasingly needed for services and business models in financial services. Banking 5.0 is not only part of the industrial revolution. It has value in innovating...

This chapter deals with customer proximity. It underlines the importance of interactions with the customers and assures a best customer journey. Customers are changing their ways of conceiving relationships with financial institutions. Financial institutions should not remain static in their positions. They should look forward and try to delight th...

Banking 5.0 is not only a technological platform transformation. It is a business model transformation. The business model canvas has several components. All of them are essential to go through a banking 5.0 transformation. Among all the components, processes are at the very base of banking 5.0. Their banking 5.0 transformation is a critical succes...

This chapter explores the future of banking 5.0. It underlines the characteristics and the perspective of new banking models that are appearing on the horizon. The short-term future of financial institutions will be banking 5.0. Once the banking 5.0 approach is adopted, changes should become the organization’s permanent mode for all the business mo...

The management of costs and investment is essential in any organization. Banking is no exception. Finances are crucial for financial institutions due to the reserve’s relevance. Due to the distribution and assistance structure, most financial institutions’ costs depend on commissions and non-performing credit expenses. Due to their significance in...

This chapter deals with the products and services supplied or potentially offered by financial institutions within the framework of banking 5.0. The chapter analyzes new types of financial institutions: challengers, neo banks, open banking, and especially fintech organizations. The second part of this chapter examines financial institutions’ new se...

This chapter deals with partnerships and examines banking ecosystems, whose importance is growing. An ecosystem combining in a value network, partners, customers, and regulators can add customers’ and organizations’ value (The term value network has been used with a different meaning. Stabell and Fieldstad [Stabell, C. B., & Fjeldstad, Ø. D. (1998)...

Any innovation needs to start with a vision of what the organization strategy should be. Banking 5.0 is no exception. This book calls this vision the philosophy of the banking 5.0 transformation. This chapter considers this philosophy and details the steps to define and implement it. The roadmap is essential for assuring the success of the initiati...

Banking 5.0 platforms are strategic components that support organizational efficiency, effectiveness, and profitability. They support the creation of new business models, products, and services. Innovative digital platforms in banking 5.0 yield several benefits. They support daily banking and administrative tasks, aid in making complex decisions, a...

This chapter analyzes banking 5.0 from the point of view of distribution processes and accesses. The initial analysis is general. Then the chapter focuses on the banking marketplace and direct distribution. This chapter underlines the characteristics of the digital distribution typical of banking 5.0. Digital development is something that has an im...

Cyber security is an increasing concern in today world. This is true in general, but especially in the case of banking 5.0 due to the expanded and extended use of Artificial Intelligence, robotic processing automation, and sustainability. Any business model cannot consider these aspects. This chapter consider in details the cyber security aspects o...

This chapter deals underlines the Artificial intelligence (AI) support to manage and innovate pricing in banking 5.0. The business model canvas for banking 5.0 considers the economic factors: revenue and costs. There is a belief that banking 5.0 acts only on reducing costs. It does have an impact on revenue. The most significant actions are on pric...

This chapter deals with persons. It goes into the details of the new e-competencies or new profiles and of education 5.0. The chapter analyzes in detail the so-called virtual workers, the person-machine integration and their relevance for banking 5.0. Persons are essential in banking 5.0, as in most other organizations. It is necessary to manage ta...

The partition of the customers or market segmentation is essential in banking 5.0. New customers are entering the market, such as the so-called millennials. Their approach to banking is entirely different. Financial institutions need to rethink the customer segmentation strategy to tend toward one person’s segment. Banking 5.0 can introduce new cus...

In the vision of insurance 4.0, the agents and intermediaries are partners of the transformation and essential components of the organizational change. When between 40 and 80 percent of the distribution is with external partners, to work in a team with them is essential in insurance 4.0. It includes the contribution of the partners as a substantial...

The future of insurance 4.0 will be insurance 5.0 when it comes. Insurance 4.0 has a future in itself. Once the insurance 4.0 approach is adopted, changes should become a permanent mode of the entire company, for all the components of the business model. New ventures, called insurtech, can change the insurance scenario in the next few years. A part...

This chapter aims to demonstrate, through the exploration of essential concepts related to insurance 4.0, how crucial it is, and the possible approaches to managing insurance 4.0 successfully. The digital revolution has turned the business scenario upside-down. This chapter provides definitions of the digital transformation connected with insurance...

This chapter analyzes in detail how to add value to the customers in insurance. To add the maximum value to the customer, it would be necessary to design one-customer insurance. In other words, it would be essential to define an insurance business model geared to provide, in perspective, a unique set of services to each one of the customers. This a...

The partition of the customers or market segmentation is essential in insurance 4.0. New customers are entering the market, such as the so-called millennials. Their approach to insurance is entirely different. For them and the remaining prospects, insurance companies need to rethink the customer segmentation strategy to target one person’s segment.

Insurance 4.0 platforms are strategic components to support organizational efficiency, effectiveness, profitability, and to create new business models, products, and services. The use of innovative digital platforms in insurance 4.0 can yield several benefits. They support the daily business and administrative tasks, aid to take complex decision-ma...

The business model canvasModelsbusiness model canvas for insurance 4.0 also considers the economic factors: revenue and costs. There is a belief that insurance 4.0 acts mainly on the reduction of expenses and investments. It does have an impact on revenue. The significant result is primarily on pricing. Insurance 4.0 support risk pricing. It can su...

Traditionally, insurance has considered a few channels, mainly intermediaries like agenciesDistributionintermediariesagencies and banksDistributionintermediariesbanks. Insurance 4.0 requires the company to have a multi-channel strategy, always considering also the possibility of direct contact with the end customers. New online channels, websites,...

Persons are essential in insurance 4.0, as in other organizational activities. It is necessary to manage talents and cultural modernization with the same rigor as technology modernization. Talent- and culture-related aspects are top challenges when moving to insurance 4.0. Insurance 4.0 is an attempt to transform also the workforce. It is a success...

Insurance 4.0 is not only a digital transformation. The business model canvasModelsbusiness model canvas has several components. All of them are essential in digital transformation. Process transformation is one of its key performance activities. Processes are at the very base of insurance 4.0. They are robustly impacted by it. Its re-engineering i...

This chapter deals with the importance of business models in support of the digital transformation to insurance 4.0. It details the components of the business model. It takes as a reference the business model canvas. It underlines how to use it in the specific case of insurance. Finally, there is a discussion on the relationships between business m...

Insurance 4.0 is not only part of the industry 4.0 model. It has value in itself as a way to innovate the business models of insurance. This chapter presents the history of the development of insurance over time, revolutionizing together with the changes in the industrial and social world. The chapter presents an integrated model for industry 4.0 a...

The management of costs and investment is essential in all organizations. Insurance is no exception. Finances are crucial for insurance companies due to the reserve’s relevance to account for future disbursements connected with the claims. Due to the structure of the distribution and assistance, most of the costs in insurance companies depend on co...

Customers have substantially changed their ways of conceiving the nature of the relationship with financial institutions. Financial institutions should not remain static in their positions. They should look forward and try to anticipate their competitors. This approach is not as easy as it seems. Companies should understand why and how their custom...

Bill Gates’ quote, “Banking is necessary, but banks are not,” showcases the opportunity for financial services digital transformation. The next transition from industry 4.0 to 5.0 will impact all sectors, including banking. It will combine information technology and automation, based on artificial intelligence, person-robot collaboration, and susta...

Series: Palgrave Studies in Financial Services Technology Presents both a theoretical and conceptual business model of Insurance 4.0 Features an extensive number of applications of the model in financial services organizations, including insurance companies Showcases the benefits and challenges of Insurance 4.0

Background and Aim: Reflecting on the effects of industry 4.0’s cutting-edge technologies and big data management on strategic and operational procurement, the additional concept of procurement 4.0 emerged. Procurement 4.0 is the strategic vision for chief procurement officers in the short- and medium-term future. Every organization requires its v...

Industry 4.0 has spread globally since its inception in 2011, now encompassing many sectors, including its diffusion in the field of financial services. By combining information technology and automation, it is now canvassing the insurance sector, which is in dire need of digital transformation. This book presents a business model of Insurance 4.0...

We are living in the middle of a Fourth Industrial Revolution, with new technology leading to dramatic shifts in everything from manufacturing to supply chain logistics. In a lively, developing field of academic, procurement is often neglected. Despite this, procurement plays a vital role, connecting the organization with its ecosystem. At a time o...

The future of procurement 4.0 can be seen as procurement 5.0. Apart from this culmination of procurement 4.0’s transformation, procurement 4.0 has a future in itself. In procurement 4.0, changes become a permanent habit of enterprises and their components, from processes to platforms, persons, and partners. Procurement 4.0 draws particular attentio...

In the vision of procurement 4.0, suppliers become partners in the transformation and a fundamental component of organizational transition. When 40–80% of operating costs go on supplies, to work as a team with partners is fundamental in procurement 4.0. This includes the contribution of partners as a substantial component. In this view, vendor rati...

Procurement 4.0 can be seen as part of the industry 4.0 model. It also has value in itself as a way to innovate around the concept of procurement. This chapter presents an original and integrated model for procurement 4.0 and details its eight components. It is essential to understand and make better use of procurement 4.0 in order to achieve real...

Procurement 4.0 can be seen as a fundamentally digital transformation. It has various components: processes, platforms, persons, and partnerships. In fact, process transformation is one of its key performance indicators. Processes are at the very base of procurement 4.0 and are strongly impacted by any changes it entails; so, re-engineering is a cr...

Persons are absolutely fundamental to procurement 4.0, as in most other organizational activities. Industry 4.0 can be seen as an attempt to reduce the workforce. It presents a viable way to make human work more lucrative, more effective, and more efficient. Consistent with this view, training 4.0 is fundamental both for the new generations of work...

The use of innovative platforms in procurement 4.0 can yield various benefits, including supporting daily business and administrative tasks, aiding in complex decision-making, and helping in managing processes. The real objective of these platforms is to free up procurement and support its focusing on strategic decisions and activities. Procurement...

We are living in the middle of a Fourth Industrial Revolution, with new technology leading to dramatic shifts in everything from manufacturing to supply chain logistics. In a lively, developing field of academic, procurement is often neglected. Despite this, procurement plays a vital role, connecting the organization with its ecosystem. At a time o...

This chapter aims to present the usefulness of using open data in insurance services in support of their digital transformation. It underlines the ways in which public administration and private companies could use them. This chapter underlines the limitations but also the benefits of such an approach. The chapter defines a digital transformation s...

Business processes largely determine the costs also in procurement organizations. This chapter examines in detail the methods of lean thinking. It introduces the principle of leanness and looks in detail at the main tools available to eliminate waste. The chapter discusses value stream mapping, kaizen, kanban, just-in-time, SIPOC, autonomation, and...

This chapter analyzes the human resources contribution to agile procurement. Key resources and key activities are the most important components of any initiative to improve processes. This chapter dedicates particular attention to the selection, management, and improvement of the human talents in the organization. Resources have different character...

In order to improve processes, it is important to define clearly the ‘As Is’ processes and how to move towards the ‘To Be’ processes. In the case of procurement, one of the best ways to describe current processes is to distinguish between the components of procurement processes. These can be described as sourcing, supply, logistics, transportation,...

The last chapter of this volume draws some conclusions about possible initiatives for improving the agility of procurement processes. It summarizes the conclusions of the first volume dedicated to procurement processes improvement. It introduces the themes of the second volume, which focuses on the digitization of procurement processes. These volum...

Agility aims to increase the flexibility of organizations in a variable and evolving environment. This chapter analyzes these changes and the challenges they pose to procurement organizations. It presents an innovative classification based on changes in the customers, the competition, the compliance, and the cost dynamics. It shows how to respond t...

In difficult times and under pressure to grow and be profitable, it is essential for organizations to become more agile. One of the ways to reach this objective is to use external resources, possibly in a variable mode. This allows for shifting capital investments in resources to operational expenses and gaining flexibility. This chapter describes...

To support reaching the objective of agile procurement, this book moves from the traditional definition of supply chain to that of value network. This chapter describes the changes in the operation of most organizations from a serial series of activities, as in the old “supply chain,” to a network of activities. It also stresses the importance of a...

This chapter examines the relationships among procurement and other stakeholders.

This chapter deals in detail with procurement processes and how to make them more agile.

The future of procurement is extremely interesting. Industry 4.0 is at the basis of the fourth industrial revolution. It is indeed a revolution also for procurement. This chapter presents an innovative and comprehensive model for Procurement 4.0. In comparison with traditional approaches, for instance for e-procurement, Procurement 4.0 represents a...

A central concept in the agile procurement approach is the relationship with the customers. Both the end customers of the organization and the internal customers of the procurement function play a central role in procurement.

This chapter analyzes in detail the applications that can support the digital transformation of agile procurement. It starts out by analyzing “classical” ICT solutions, such as the ERP and its main components, which can help procurement mainly from an administrative and accounting point of view. Next it analyzes in detail e-procurement and its comp...

The thesis of this volume is that procurement is not a support function but one of the main contributors to an organization’s margins. Under this vision, this chapter analyzes how agile procurement can contribute to the revenues of the organization. It devotes particular attention to defining the critical success factors of a project for agile proc...

In a changing and challenging world, it is essential to find innovative ways to manage organizations. An important solution might come from their increased agility in facing continuous changes in the environment. This chapter stresses the role of procurement in such a strategy. It defines how procurement should go well beyond the traditional role o...

This chapter presents a real case of agile procurement. It considers in detail procurement in a financial institution. In banking, procurement is becoming increasingly important as information and communication solutions become essential for the success of the financial institution. In the past, banks spent mainly on buildings and branches. Now, mo...

This chapter analyzes the channels which allow procurement to communicate with customers, both internal to the organization or end customers.

This chapter draws the conclusions of this second volume on agile procurement but also of the entire book. Agile procurement is essential for the future of organizations. In order to be successful, it must be properly introduced and managed. This book’s objective is to present a vision, but also the components and the actions to be taken. Many theo...

This chapter analyzes the partnerships that procurement can set up. It presents an innovative model based on the Kraljic matrix. Partnerships are important for critical suppliers. This chapter also considers the critical factors that make them successful.

The basics for any improvement in procurement finance are essentially two aspects: a clear definition of its processes and the analysis of the relationships between finance and procurement. This chapter examines these two aspects. It underlines the move from the traditional supply chain with its linear nature and its limitation to inside the bounda...

This book presents a business model on how to structure the relationship between financial services and procurement. The need for new models is particularly important to support small and medium enterprises (SMEs) where there is an evident difficulty in accessing credit. Due to this context, innovative solutions must be introduced. The objective of...

In the modern world characterized by change and volatility of the environment, it is essential to approach also procurement finance from an agility point of view. The starting point is the capability to measure the key process indicators, analyze them, develop the procurement finance, and verify the indicators against the objectives of the organiza...

Procurement finance provides many benefits in helping in the resolution of small and medium-sized enterprises (SMEs) financing, essentially connected with the difficulties in accessing to the credit from the financial institutions. First, it has more flexibility. With the aid of supply chain strength, upstream and downstream enterprises on respect...

Digital transformation has allowed exploiting new solutions to support the increasing need for procurement finance in support of the digital transformation and the globalization. The new solutions support the full procure-to-pay process: from ordering and tendering to credit and financing, to the payment, and the support to the preparation and coll...

Procurement finance is one of the most dynamic function in the organization. Its future can be bright but it must be in full sync with the organization’s strategy. Its digital transformation is important due to the fact that procurement is a function lateral to the entire organization. It must become the yeast and the leverage in support to the dig...

The future of procurement finance is connected to the digital transformation, which in the case of procurement finance is a digital revolution connected with Business 4.0. The correct concept is to consider procurement finance 4.0 as a platform, with several actors—proprietors, providers, producers, and purchasers—with interchangeable roles. Fintec...

The world is changing. The changes impact also on the organizations, which need to adapt and become more agile. Procurement is becoming more important in the organizations transforming its objectives from cost savings to value adding. Procurement is moving from the role of support to a primary contributor to the value for the customers. Procurement...

Trade finance is a long-established financial product. Over time, it has been extended to the financing of the entire supply chain. A modern vision considers the entire end-to-end procurement process. It is what this book defines as procurement finance. Procurement finance includes a holistic view of trade finance and supply chain finance. It exten...

Survey on the digitalization of the procurement. Analysis of its opportunities and criticalities. https://tesisquare.com/wp-content/uploads/2018/01/WP_Procurement.pdf

This book is the second of two volumes presenting a business model to add value through Procurement. Including several case studies of successful implementation, it demonstrates how the increasing complexity of the business environment requires a significant intervention on the management of processes and information within individual organizations...

This book is the first of two volumes presenting a business model to add value through Procurement. Including several case studies of successful implementation, it demonstrates how the increasing complexity of the business environment requires a significant intervention on the management of processes and information within individual organizations...

This book is the second of two volumes presenting a business model to add value through Procurement. Including several case studies of successful implementation, it demonstrates how the increasing complexity of the business environment requires a significant intervention on the management of processes and information within individual organizations...