05.09.18 -- 4 Key Investment Areas For Retail Supply Chain Technology

Retailers are poised to make major supply chain technology investments in the coming year, with omni-channel and personalization efforts affecting how those investments are targeted. Those investments will include better inventory optimization and planning tools, data analytics, and in-store technologies that can help enhance the overall customer experience.

The mere mention of autonomous transportation still evokes images from sci-fi movies for some people. However, the reality is that this concept is not pie-in-the-sky talk — it's really here. And it won't be long before it's mainstream.

Blockchain and cryptocurrency: the beloved buzzwords of the technology world. Due to their radical potential, these emerging technologies have been shrouded in doubt and confusion. Yet, even as awareness and adoption have steadily grown in recent years, many experts venture to call this silent revolution the fastest growing digital technology since the internet.

Shipping isn't free to the retailer, and it costs even more when it's expedited. That reality has forced retailers to develop delivery strategies that allow them to retain their best customers while still making money. What have emerged are nuanced approaches to fulfillment. Instead of an all-or-nothing approach — free shipping on everything versus charging everyone what shipping costs us — merchants are coming up with creative solutions.

Retail is rapidly being redefined. With the swift pace of disruption occurring right now, winning retailers are looking to outpace the competition and adopt strategies that position them for success as customer expectations and technology continue to evolve. The following key trends are shaping future strategies and tactics to survive, adapt, and win.

Funding continues to flow into upstart brands and new retail concepts driven by Amazon and other innovators, creating both a lot of noise and opportunity. To stand out and succeed, retail merchandisers need to move fast, use their data, and think like a disruptor.

To stay ahead of the competition, brands need to deliver products that are new and fresh, while at the same time ensure they meet consumer demands, flex with production shifts, and navigate a myriad of sourcing challenges including quality and regulatory requirements.