It’s Time To Create The Ultimate Responsive Supply Chain
Today’s consumer is more demanding and impatient than ever before, expecting a variety of products to be available to choose from and subsequently delivered when, how, and where they want them.
Building and operating a responsive supply chain is the only way to deliver on customer expectations and gain a competitive advantage. The responsive supply chain has to encompass two significant attributes; it must be both responsive to your needs as a business and also, as equally, if not even more so, responsive to the needs of the customer. Thus, it is crucial for companies to digitise and gain from the numerous benefits available by using a digital platform to stay competitive. So, what benefits can be gained?
Faster speed to market – Building and operating a responsive supply chain enables retailers to meet the demands of today’s impatient consumer with on time, in full deliveries. According to recent market research conducted by Gravity Supply Chain, nearly 50 percent of retailers who digitised to build a responsive supply chain, experienced faster speed to market.
Significantly improved visibility – Data collected from a well known U.K. clothing retailer showed that their outdated platform offered visibility of a vessel only after an average of 2.94 days from departure, while a digital platform can provide complete visibility immediately.
Data integrity and reliable ETAs – Data from the same retailer showed that seventy-three percent of product line code experienced an incorrectly estimated time of delivery of over ten days of its schedule, with 31 percent being incorrect for the duration of the voyage when utilising legacy systems, which again would get entirely eradicated by using a digital platform.
This data strongly supports the fact that digitising is the only way for businesses to meet the high levels of customer expectation by enabling them to deliver what consumers want, when they want through a more agile supply chain.
If you’re a company who’d like to learn more about digitizing your supply chain to benefit your business, book an appointment with a member of the Gravity team at ASCM by filling in the form below. We’ll be at the UST booth #301:
Book An Appointment With Gravity
At Supply Chain Leaders Exchange 2019