Growth in Internet retail has contributed to a massive rise in delivery volumes. In 2016, Internet retail amounted to US$1.86 Trillion. By 2021, it is expected to reach $4.48 Trillion. In addition to this surge in demand, increased customer expectations have brought about a major shift in the way brands approach customer service and deliveries. This has a major impact on the retail supply chain, making it necessary for brands to consider digital technology options to maximize supply chain efficiency.
However, the supply chain is plagued by challenges related to infrastructure and cargo movement, that make it difficult to achieve seamless transit of goods. Another challenging issue is that customers demand complete transparency in the supply chain.
This has led both retailers and logistics companies to turn to digital technology for help. Digital technology plays a key role in enabling them to manage their operations from dispatch to delivery efficiently, thereby optimizing the entire supply chain.
Some of the Supply Chain areas that will benefit immensely from the deployment of technology innovations include:
The first step in achieving supply chain efficiency is through proper inventory management. Excess inventory may result in waste, while inadequate inventory may affect the production schedule. Automated inventory management solutions enable manufacturers to plan for the right amount of inventory, schedule for re-fills, and create adaptable business processes. This provides much-needed flexibility for manufacturers to handle the varying supply-demand situations, as well. Moreover, with technology-aided real-time analytics, inventory managers can predict demands, and manage inventory flow efficiently.
Delivery Time & Order Tracking
Delivery time plays a crucial role in improving supply chain efficiency. It contributes to high customer satisfaction levels, leading to repeat business and high customer loyalty. Warehousing and in-house logistics solutions can improve delivery time through proactive order tracking features. Real-time updates on the product delivery status offer the visibility that the customer expects while ordering goods online. Solutions can even help manufacturers to interact with logistics providers to get real-time updates on the status of shipments. Live tracking mobile apps help expand market reach, drive sales, and win customers easily.
Collaboration Between Stakeholders
Implementing new communication technologies across the supply chain helps improve collaboration between all those involved in the ecosystem. Sending and receiving timely alerts, notifications, and emails, and tracking the movement of goods at each stop are some of the improvements that maximize efficiency. They help manufacturers and retailers to make more informed decisions, and forecast delivery time, as well.
Although the supply chain landscape is a rough terrain to traverse, it also offers numerous opportunities for retailers and manufacturers to pursue. Today, new-age solutions for shipment, fleet management, warehousing, cargo, in-plant logistics, etc., are available to improve supply chain efficiency. They offer better control, clear visibility, detailed analytics, and scalability to meet growing customer demands. The right technology solution leveraged at the right time can grow business exponentially. It also helps companies maximize their efficiency in the last mile, thereby achieving high customer satisfaction and customer loyalty.
Do you want to improve your supply chain efficiency with smart technology solutions? InApp offers logistics solutions that drive transparency and faster delivery for retailers. We have 22+ years of experience in this field and harness the power of disruptive technologies such as IIoT, AI, and Machine Learning to drive your supply chain efficiency. If you want to explore our solutions, drop us a line, and we’ll get back to you.