With the rise of Industry 4.0, novel technologies open new opportunities for business transformation. These technologies change supply chains and drive new ways to create value. However, not all companies chose this path of digitalization due to significant investment costs, and thus risk becoming laggards. This article analyses three key areas of digital technologies development and their impact on the transformation of supply chains, including the emergence of closed loop chains as the basis for a circular economy. This paper provides practical examples of supply chain digitalization, as well as its socio-economic and environmental effects. It will be shown that the formation of a common information space for all participants and the transformation of the supply chain into an ecosystem has the greatest influence on supply chains.