Supply Chain Efficiency in Retail FMCG Market Trends
On top of pricing and profitability management, multichannel and omnichannel retailing as well as customer engagements, maximizing your organisation’s supply chain efficiency. Three important business goals you should focus on is to synchronise supply with demand, optimise inventory across all sales channels, and minimise transportation costs. All of which could easily be attained with the assistance of Tableau.
In synchronising supply with demand, today’s multichannel requirements force retailers to revisit their operational effectiveness metrics. With distribution centers being reconfigured to serve as e-commerce fulfillment hubs, and stores tasked with fulfilling orders online and providing in-store order pick-up, traditional metrics no longer provide an accurate reflection of performance. Hence, the challenge is in identifying what steps are you taking to develop smarter, integrated merchandising and supply chains.
To achieve this goal, your organisation should be able to address how accurately it can anticipate demand across channels and at specific locations, how coordinated is its visibility into inventory and supply chains across channels, as well as how well can it integrate marketing, merchandising and supply chain data to better collaborate with suppliers and distribution partners.
Next, in optimising inventory across all sales channels, 72% of retailers now assign high value to integrated inventory visibility, compared to 45% in 2012, and 39% of retail executives identify supply chain demand as their number one blind spot. Thus, it is important that your organisation identifies how are you handing stocking and visibility into your inventory levels and what is stocked, to achieve this business goal.
Some of the questions your organisation should address includes how it measures supply chain performance across sales channels, if it has the organisational framework, to collect the right set of metrics for multichannel performance and enable intelligent trade-off decisions, as well as how it manages the fine line between overstock and out-of-stock conditions throughout the organisation.
Finally, in minimising transportation costs, the imperative for the next generation supply chain isn’t “how to get goods to market in the most efficient way?”, but “how to serve customer demand in the most efficient way?” instead. Retailers must design the customer experience from end-to-end. Achieving this business goal means that your organisation should have considered using data visualisation to redesign supply chain flow designs and methods to optimise transportation costs?
Think about if your organisation has real-time visibility into transportation operations and costs across its supply chains, how much does your organisation spend on shipping costs for emergency replenishments or sending unsold items back to distribution centers, and how does your organisation optimise utilisation of carriers, lanes, modes, ship-to locations, contract details, and other key metrics.
Accelteam has been actively working with customers from the various technology industries driving business improvements through advanced data-processing technology. With the aim to promote full use of mass and complex data sets, Accelteam has the solutions to help companies use data to generate better and smarter business decisions.
In fact, for the past two decades, AccelTeam has been one of the leaders in providing advanced data-processing technology throughout the region. If you would like to learn more about Tableau, please reach out to us at email@example.com.