Thanks to the growth of eCommerce, companies spent a record $1.5 trillion on shipping costs in 2017. Retailers and manufacturers credit the ‘Amazon Age’ for the struggle to keep goods moving to consumers — a struggle compounded by the critical shortage of truck drivers in the U.S. Fortunately there is a virtual light at the end of the tunnel for freight delivery.
Modern retailers understand the core benefits of leveraging the power of Predictive Analytics and Artificial Intelligence. Predictive Analytics accounts for all of your company’s relevant data at a micro-level, identifies your business’ trends, opportunities, and influencing factors. It makes recommendations to retailers that will help them increase forecast accuracy, reduce inventory costs, increase in sales, and maintain high customer satisfaction levels.
For consumer goods companies with omnichannel sales, downstream demand is a key signal to consider when thinking about inventory allocation, new product launches, demand planning, and other decisions. However, not all downstream demand is created equal.
In our instant-everything world, customers want orders ASAP and at the lowest cost possible. This is becoming increasingly harder to do as parcel growth is expected to continue rising 17 to 28 percent each year through 2021. To make matters worse, the dwindling warehouse labor force is facing major skill shortages and an aging workforce.
In the world of blockchain, it is the digitization and uploading of the contractual agreement to a Digital Ledger that becomes the driving force behind any transaction, the Smart Contract.
To keep pace with growing consumer expectations, retailers must be equipped with modern order management systems that greatly expand their fulfillment capabilities. However, many still lag behind. To gain insight into these challenges and retailers’ top priorities for a future OMS investment, Radial partnered with Incisiv to conduct a quantitative survey of retail executives spanning key business functions across the retail supply chain.
A unique, robotic, goods-to-person order picking technology for warehouses and distribution centers.
Sure Sort™ is a robotic “each” or “piece” sorter that easily handles complex variables and delivers a wide variety of items into a compact array of order bin locations in a single pass.
The global supply chain is comprised of a set of complex business processes involving many players spread all over the world. An effective Global Trade Management (GTM) digital platform must be able to handle these diverse functions and be able to integrate well with both systems and people. A digital supply chain is an enabler of value. It will enable you to manage global risk; improve agility, speed and quality; and reduce costs in many areas of your operation. IDC predicts that, by 2020, digitally-mature companies will achieve $430 billion in productivity gains over their less-connected peers.
Retail buyers and merchandisers are continuously tasked with sourcing new merchandise and comparing to existing products to ensure their product lines remain competitive in the marketplace. With multiple seasons and programs to support, it is challenging to identify new supply sources, review new products with existing suppliers, negotiate contracts and confirm timely supplier production runs.
Converting retail stores into mini-fulfillment centers is a more cost-effective way to expand the distribution network using existing facilities that are already close to where customers live.
Customer service has become a key component of the overall customer journey, and more critically, customer lifetime value. Therefore, retailers need to invest in service options to provide choice and convenience to customers.
The holiday rush will be here before you know it; take time now to ensure your DC — and workers — are properly equipped and trained.