Sep 5, 2023|
Pioneering Digital Transformation: JD.com’s Robust Presence at CIFTIS 2023
by Vivian Yang
For the fourth consecutive year, JD.com proudly served as the global partner of the 2023 China International Fair for Trade in Services (CIFTIS), showcasing expansive exhibitions across both physical and digital platforms. This year’s participation included several of JD’s business segments—ranging from retail and logistics to technology, healthcare, industrial operations, property development, insurance, and private label. Through its uniquely designed booths, the company focused on spotlighting digitally intelligent technologies engineered to enhance service trade efficiency and improve quality of life.
JD Cloud, leveraging its digital capabilities, played a crucial role in enhancing the virtual components of the fair. For instance, its Customer Relations Management system facilitated a 10 percent increase in marketing effects for both the event organizers and participating vendors. JD’s technology was also pivotal in streamlining various operational facets, such as guest reception, enterprise services, and ticket management, which amplified user engagement and satisfaction.
Sandy Xu, CEO of JD.com, delivered a speech on the opening day, articulating the significant role that digital transformation plays in driving sustainable and high-quality economic growth. In her remarks, Xu emphasized how JD’s supply chain bridges the gap between consumers on one end, with nearly 600 million users across China connected to the internet, and the industrial internet on the other end, with a vast number of products from manufacturers and brands. JD’s digitally intelligent technologies pave the way for seamless flow between both ends.
Sandy Xu, CEO of JD.com delivered a speech at China E-Commerce Convention during CIFTIS
To illustrate the effectiveness of the company’s supply chain, JD.com boasts an industry-leading inventory turnover rate of just 31.7 days as of June 2023, managing an unmatched number of over 10 million SKUs. Furthermore, JD successfully reduced its fulfillment expense rate to 5.8% YOY, setting a new benchmark in integrating the digital and physical worlds.
Positioned as “a technology and service enterprise with the supply chain at its core,” JD.com has continuously applied digitally intelligent technologies across the supply chain continuum. This includes aspects like production, distribution, consumption, and after-sales services. As of June 2023, JD.com’s supply chain infrastructure assets were valued at RMB 140.8 billion. This robust infrastructure does more than just fortify the stability and reliability of JD’s own supply chain operations; it also serves as a catalyst for the digital transformation of the company’s partners and associated enterprises across the entire supply chain ecosystem. In doing so, JD is making a tangible contribution to the high-quality, sustainable development of the real economy.
JD.com is committed to broadening the accessibility of its supply chain infrastructure and digital prowess to all industries. Concurrently, the company gathers industry-specific insights to curate bespoke technologies and services tailored to various sectors, such as retail, energy, manufacturing, automotive, and transportation. In doing so, JD is not just advancing its own digital infrastructure but also equipping various industries with the tools needed to expedite their digital transformation journeys, thereby unlocking their value across the industrial landscape.