THE EVOLVING RETAIL SUPPLY CHAIN AND HOW TO PREPARE FOR AN OMNI-CHANNEL APPROACH

Retail is changing in the 21st century. E-commerce in particular has heavily influenced the way we shop and retailers are focused on delivering products on time in a cost-effective manner. Brick-and-mortar stores serve as merely one of many shopping channels in a complex, omni-channel retail landscape and retailers need to keep up with rapidly evolving e-commerce technologies. No matter what the channel you use or where your store lives, customer service should always be at the forefront of everything you do.

Customer expectations are becoming more and more personalized with each passing day. It’s no longer acceptable for packages to be late and customers are quick to complain when their orders take more than several days to be delivered. Shoppers want a reliable brand experience that delivers on time, and this increased demand leads to pressure on retailers to meet that demand. Retailers need to identify ways to optimize their supply chains in order to accommodate the new pressures that come with channel proliferation.

17% of shoppers report that they plan to do less shopping in stores and more online as consumers show a desire for greater shopping convenience. For example, instead of waiting in lines or wasting time searching for a product at the store, customers can search up a product on Amazon and have it shipped to their doorstep in a matter of days. Other retailers like Nordstrom, let customers purchase items online and pick them up in store, bypassing crowds and lines at the register.

Retailers and stores live in a multi-channel world, where customers are shopping and buying on a number of platforms. Supply chain managers need to accommodate and anticipate any internal and external demands that come through, delivering an incredible amount of flexibility. Your stores need to support the shoppers who might be purchasing items online, on their phones, from a tablet or even through a third-party retailer or pop-up store. To keep up with these changing demands, stores need flexibility to fulfill orders in a number of ways that is efficient and keeps costs low.

Especially important for a store is maintaining a single line of visibility that overlooks all of your outlets. The key to managing a store that handles a lot of inventory is using a software solution that increases your visibility and transparency. Your supply chain system and carrier solution should also be able to adapt to fluctuating demands. Precision Software’s Shipment Execution solutions gives retailers a high-powered transportation and trade system as well as the visibility to process high volume orders. As the number of orders increases, the complexity of transportation management also increases. Retailers need to service e-commerce platforms that will differ from the in-store purchases. For example, online customers may be placing smaller orders in greater frequency and from locations all over the world. Your customers might also be personalizing their delivery methods, which will need to be managed by a single operating system.

Companies who hope to grow their retail revenues need a holistic view of their transportation management system so they know what’s going on at all times. This can help keep inventory organized and help managers find ways to mitigate any risks, complexities and costs that come with retail shipping. You also need to take into consideration returns and how your shop will handle an influx of inventory, especially around the holidays. Online shoppers are likely returning their products by mail so your transportation management system needs to be ready to manage massive return orders. A one-size fits all approach is not appropriate for all businesses, so your company needs to identify what solutions will best fit your needs.

As your businesses prepares to support an omni-channel approach by branching out into e-commerce and other methods of retail, you need a system that is flexible, adaptable and can manage the growing trends in retail. Look for a system that is flexible and provides management with a big picture view of your business. To stay competitive in a multi-channel world, your business should embrace software solutions that put your customer at the center of everything you do.