Every branch of the retail industry – from customer service and transportation to production have been largely benefitted by the digital transformation. Diverting the attention towards a prominent process in the retail industry is supply chain management.
Intelligent supply chain management is changing the game for traditional retailers, warehouses, consumers, and employees alike. The adoption of intelligent supply chain solutions is due to the advantage of reducing costs, improving profitability, and enabling competitive advantage for your organisation.
What Does It Look Like?
Historically, traditional supply chains were manual and lacked accuracy levels. However, with the advent of innovative technologies, there has been an increase in the rate of accuracy, business trend, and customer behaviour.
Today, businesses are harnessing these solutions by taking full-charge of the latest retail digital transformation technologies like machine learning (ML), artificial intelligence (AI), big data, predictive analytics and unified commerce.
Role of Intelligent Supply Chain Solutions
Supply chains are more complex when a product is offered as a service.
Considering the onus on businesses with a product as a service, it becomes necessary for an intelligent supply chain mainly to enable three key things:
- Delivering the right products, resources, parts, and service as per the requirement.
- Achieving a balance between customer-service and budget requirements.
- Shorter product life cycles require faster, smarter, speed and innovation across the complex value chains.
Successful Implementation Of Supply Chain Management
To achieve a perfect intelligent supply chain, executives must brainstorm on issues that reflect incompetencies like costs, time delays, disruption to productivity and impact on data. Once identified, it forms the basis for implementing intelligent supply chain solutions which can solve the concerns with its inherent capabilities and make them seem irrelevant.
The complexity is slightly different for a product-as-a-service supply chain as it is essential to track and trace a product and its connected services throughout its journey.
However, the application of intelligent supply chain management is to effectively manage shared processes and gain actionable insights and visibility into origin, authenticity and asset handling. In short, the exchange of information must be swift, and customers should be well informed, connected at any location and time.
Impact On Manpower
Automated solutions touch upon various parameters of the supply chain and enable more accurate and efficient outcomes. An intelligent supply chain should maintain a balance between trained supply chain professionals and intelligent solutions.
The balance allows the supply chain to operate at its peak with optimal efficiency.
Being a Part Of Industry 4.0
It is inevitable to do away with trending technologies for businesses today simply because the demand in the market and competition is neck to neck. The challenge, however, lies in investing the funds accordingly for procuring the right technology. A business must never adopt a technology based on the trends but instead zero in on those that align with the product or service needs. If your organisation is moving towards intelligent supply chain management, now is the time to act on it.