86 Percent Of U.K. Retailers Haven’t Completed Supply Chain Digitisation
Gravity Supply Chain recently conducted exclusive market research on retail supply chain digitisation, based on interviews with 500 retail executives in the U.K. and U.S. The results were eye-opening. We found, for instance, that 86 percent of U.K. retailers hadn’t completed full digitisation of their supply chains.
However, while many U.K. retail businesses are yet to complete digitisation projects, they do recognise the immense value in doing so. Lower cost of operation was seen as the most popular benefit among those yet to digitise (34 percent), followed closely by increased speed to market (31 percent), greater customer experience (31 percent), and higher profit margins (26 percent).
For those retailers who have fully digitised their supply chains, one significant benefit they have experienced is better decision-making, with 76 percent stating that they believe their organisation has enough data and insight to make the right decisions about its supply chain following digitisation.
The key learning from the report is that while most U.K retailers are lagging when it comes to digitising their supply chains, they nonetheless recognise the business benefits they will gain from doing so. An immense market opportunity exists for 3PLs or supply chain software companies to meet retailers’ needs for digitised supply chains by providing them with a solution.
If you’re a retailer who’d like to learn more about digitising your supply chain to benefit your business, book an appointment with a member of the Gravity team at Multimodal by filling in the form below:
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