This chapter aims to illustrate the potential and significance of forest-based industry to take the lead in the sustainable development of the bio-based economy under digitalization. The digital solutions are transforming the forest-based industry by enabling the real-time end-to-end supply chain visibility, stock level optimization, demand planning, and real-time order status tracking and transparent, speedy, and hassle-free order fulfillment. In addition, increasing diversification corresponds to eco-consciousness, and shift in people’s preferences induces the transformation of forest-based bioeconomy into a digital platform industry. Further, this chapter will highlight the circular economy way of thinking that offers the possibility for the use of material to a more efficient level along with creating new, sustainable business models for many industries. The future of many industries lies in cross-industrial collaboration and creation of new value network based on circular economy as in the industrial ecosystems; the side streams generated in the production of one firm may be the input raw material for others. Based on all of these developments, transformation of forest-based bioeconomy into a digital platform industry can be expected.
Part of the book: Elements of Bioeconomy