Supply chain authorities need to make the best business decisions and also invest in the best technology to strengthen their organization for the future. Supply chain authorities are using machine learning techniques to understand daily demand and handle everyday tasks. AI will help supply chain environments by removing complexity, automating daily decisions, predicting orders and reducing costs
Virtual is the new reality
Industries now use image technology to understand out-of-stocks product information and retail store conditions in near-real time. 3D printing will enable on-demand production and personalization of desired objects.
Circular is the mainstream economy
In the future, society will be concentrating on avoiding waste and recycling. This means that the supply chain will have to embrace an economy in which used products are returned, recycled and then reused in some way.
Today’s companies rely on technological solutions to establish clear visibility across the entire organization so that managers were allowed insight into all parts of the design, production and distribution processes.
A growing number of retailers are using their retail stores as mini-warehouse centers. The retailers have embraced the ship-from-store concept. While ship-from-store concept allows retailers to have to maintain dual inventory systems, proper tracking of in-store and in-warehouse inventory levels is essential to make this work
Adapting to the New Consumer Buying Cycle
Consumers are proactively adopting new trends almost as soon as they come out; brands are now investing more on “see now, buy now” strategy to meet the needs of increasingly demanding customers.
A certain aspect of retail is product returns. Now, retailers see potential in those returns as a way to satisfy customers with a hassle-free returns policy. A logistics provider can collaborate with business to build a returns process that addresses key variables like a process for consumers while returning an item, accepting online purchases for returns, and also ensuring undamaged returns are reflected again in inventory levels.