Retail

New technology is one way retailers are working to outpace the competition, with innovations bringing new solutions to market while also spurring improved customer experiences across various touchpoints. Our solutions have helped contribute to these rapidly evolving industry needs.

Consumer preferences are constantly evolving. As a result, retail delivery professionals are adopting technologies and best practices that support a seamless, streamlined experience at every customer touchpoint in the supply chain.

Today, 61% of retailers are implementing new supply chain strategies and initiatives designed to meet modern consumers’ expectations. They see the supply chain as an opportunity to expedite delivery through clearer logistics, but also to provide customers with more transparency into their orders, whether delivered to their homes or via store pickup methods.

Connecting supply chain resources with in-store activities has become a key focal point for retailers. Most have already taken efforts by offering in-store pickup, providing local sales information online, and distributing emails that benefit local customers. For example, companies will fully leverage data collected from customers and staff through in-store tablets then use it to predict outcomes.

Retailers using RFID, NFC, and tablets can create more touchpoints for data collection. Equipping their stores with RFID allows them to efficiently attract goods and apply advanced analytics to predict outcomes. Using these methods, one leading department store chain has achieved almost 99% accuracy in determining what products need to be where and at what time in their stores.

Also, the need for fast, low-cost shipping is driving the placement of inventories , meaning more, but smaller fulfillment centres are necessary. Rather than try to distribute inventory and hence incur the cost of more fulfillment assets, many such retailers could decide to outsource, either by collaborating with a single large provider, or by entering multiple partnerships with 3PLs in different regions.

An effective supply chain is a core competency metric for retailers. Supply chains must be flexible and scalable on demand. But while transformation starts with internal strategies and initiatives, retailers’ execution of an innovative supply chain begins on a micro, systemic level.