As retailers evolve their supply chain to meet short- and long-term requirements, the top three challenges they are encountering are the need to balance increased e-commerce demand with store demand (34%), demand planning and forecasting (33%), and improving efficiencies (30%). These are the findings of a newly recently survey, “2020 Supply Chain Survey” from enVista.
“The right digital supply chain strategy takes a holistic approach to optimize processes, technology, inventory, labor, and facilities,” said enVista CEO Jim Barnes.
“Advancing supply chain capabilities and control while leveraging next-generation, agile solutions remain imperatives for retailers’ omnichannel transformation strategies and profitability.”
With today’s immense challenges due to the COVID-19 pandemic disrupting and debilitating the traditional retail model, plus the extreme volatility in supply and demand experienced by so many omnichannel organizations, the need for an efficient and agile supply chain has become ever more apparent. A not only resilient, but optimized supply chain is imperative to success, directly impacting sales, customer service, brand loyalty, and competitive advantage.
“Today’s retailers’ reputations rest on how well they can adapt to consumer demands – that means managing wide variety orders delivered when, where and how their customers expect,” said Bill Ryan, chief executive officer, North America for Kӧrber Supply Chain – Software.
According to enVista’s 2019 Consumer Study, consumers expectations include researching, purchasing and obtaining products wherever and however they desire as validated by these findings:
- 67% of consumers indicate that inventory visibility across stores, online and mobile is an important service to offer
- 65% of consumers indicate that the ability to buy anywhere, ship anywhere is an important service to offer
- 48% of consumers indicate that the ability to pick up an online purchase in-store is an important factor when choosing what store to shop at.