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When we talk to retailers across the board they say worsening supply chains is a top retailing risk. Supply chain woes of the past two years have made them realize that better management of inventory at every node of the physical supply chain—warehouse, distribution centers, logistics providers, stores—is critical for them to deliver better outcomes and experiences for their customers.
Leading retailers have already begun their journey of continuous innovation along a compelling roadmap of technology that manages supply chain operations. This year we will see rest of the majority seriously commit to strategically plan their supply chains, elevate supply chain operations, bolster supply chain processes, data synthesis and analysis capabilities, and strengthen warehouse and distribution networks for their long-term business goals—allowing them to be fast, efficient, and cost-effective in their fulfillment efforts. Those still sitting on the fence should remember that outdated technology and processes will not only impact their bottom line but will also see supply chain specialists quit the job resulting in huge consequences.
In the following pages, experts share their views on investing in supply chain automation, inventory management, expanding distribution capacity and infrastructure and bring in process improvements. While they make their case, they also share several examples of retailers focused on making their supply chains more agile and resilient. We hope some of these ideas will help you in carving out digital supply chain capabilities for your organization. At the end of 2023, winners will be defined by the ones who are able to use their supply chain data most efficiently to better understand consumer demand patterns.
Please do share your thoughts on your path to a data-driven future.
Preparing for the Future Headwinds