5 Easy Tactics which helps in Optimizing Supply Chain Management System
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Optimizing Supply Chain Management System to Reap Gains in Ecommerce and Retail Businesses
The exponential growth of Ecommerce has given the retail businesses an unprecedented boost. The retail businesses are undoubtedly riding the wave today. Ecommerce has empowered innumerable small and medium-sized businesses, as well as stores, by providing them a platform to sell their products and services online.
Increasing number of retailers, from all industries, are opting for Ecommerce online business platforms, as opposed to the high maintenance traditional brick and mortar store platform. But selling online is a battleground with intense competition. The plethora of products and services in the online market poses cut-throat competition at all levels, all the time. There is never a dull moment online.
The latest statistics indicate that the Ecommerce retailers are expected to acquire almost 54% of the total market, by 2021. The decline in the brick and mortar stores business platform is at a consistent fall of 2% to 3%, across the globe, directly indicating to the popularity and profitability Ecommerce retail providers.
For the Retail Providers to survive in the Ecommerce platform, a perfect and flawless supply chain is the backbone. An efficient and flawless supply chain is the only way to cater to the ever-growing market demands, and be sustainable and stay on top of a highly volatile Ecommerce market scenario.
An effective product lifecycle management and a well-structured and planned product flow, via customized and state-of-art Ecommerce logistics solutions, is the key component to gain the optimum advantage in the Ecommerce wave.
The importance of the supply chain and logistics sector in Ecommerce market is undeniable. It can make or break the retail provider.
Here are some important factors in optimizing the supply chain management, and improving it to bring in gains to the retail business.
Technology Support is a Boon in Optimizing Supply Chain Management
An efficient supply chain undoubtedly helps to address the difficulties of the e-commerce business, and streamline the retail logistics. And a good supply chain needs a good supply chain management system. The key to upgrading the performance of the supply chain management system lies in a holistic outlook, factoring in all factors from loading, pick-up, storage, unloading to delivery. Technology is a big help in managing all the supply chain segments, and can be used to integrate multiple cost centers. A state-of-art logistics app development enables in gauging the supply chain cost structures.
Speedy Same Day Delivery Requirements
Ecommerce is an ever-changing, volatile market. Everything changes from moment to moment. Online buyer preferences are forever changing in direct proportion to the increase in buyer capabilities. For a successful Ecommerce business, one of the top priorities is to cater to the same-day deliveries, especially in the case scenario of customers residing in metros and cities.
Studies indicate that a whopping 96% of online customers expect faster delivery of their product, or even same-day delivery.
The customer expectations are high and the market is full of options for them. Hence, if the business has to live up to these high expectations and survive competition, then the delivery process has to be speedy, supported with a very efficient route planning engine. Integrating supply chain management software with artificial intelligence empowers the supply chain management system, and brings in higher efficiency. Technological support of Artificial Intelligence guarantees high accuracy and 100% real-time higher visibility, as well as the speed of delivery.
A Cost-Effective Supply Chain Process is an Asset
Speed and Cost-effectiveness are the two critical factors for the success of Ecommerce market structure. A successful Ecommerce logistics provider is one who can blend speed and affordability in the most effective manner.
A speedy order processing and delivery operations allows a lower revenue turnaround time, and hence is cost effective, as it reduces the cost required to be shed out on technology. It is important to evaluate the logistics process to find out the gaps, and improvise constantly, and find ways and means to improve delivery standards.
Live Delivery Tracking Status And End-To-End Visibility is a Must
Technology is a tool. It is a blessing for many industries, empowering and enabling businesses to efficiently deliver services to the best possible optimum levels.
Technological support is at the helm of the Ecommerce logistics industry. Ecommerce logistics sector has been able to successfully create software engines that automatically allocate communication and information to the nearest driver, to enable the timely delivery of goods. This creates higher efficiency and helps in delivery, as well as in picking-up of canceled orders, thereby increasing customer satisfaction.
A user-friendly “User interface” for live tracking, that provides a real-time information and visibility of the movements to the customer, is definitely an asset that provides transparency and enhances customer satisfaction. A technology supported supply management system provides the best algorithm to suggest the most optimized routes, which also suggests to the driver the live traffic updates, thereby prompting the drivers to choose an alternative and smoother route for their delivery. This ensures speed, safety and smooth operation.
Build a Responsive Supply Chain
Leverage point-of-sale (POS) data and social media analytics to see trends and demand shifts in plenty of time for your supply chain to adjust to driving more sales, better customer service, and repositioning inventory for maximum profit. As a result of multi-channel initiatives, the emphasis will shift from traditional supply chain forecasting/planning paradigms to the development of agile supply chains.
Logistics sector is an ever-evolving sector. Logistics companies have become innovative, constantly finding out all possible resources, to implement the best technology, to enrich the customer experience and enhance customer satisfaction. These are exciting times in logistics sector. These are times for Ecommerce Logistics Providers to work closely with Solution Providers, and integrate the best technological methods that help in assortment and order fulfillment offered to customers.
5 Easy Tactics which helps in Optimizing Supply Chain Management System to Reap Gains in Ecommerce and Retail Businesses
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