The past several years have proven that uncertainty is now a major factor in retail, which makes understanding your own supply chain more important than ever. Even if companies can’t predict the future, proper visibility can help anticipate potential challenges with enough advance notice to overcome them rather than be paralyzed by them.
Achieving true supply chain visibility requires a range of technologies working in tandem to help retailers understand the many moving parts that result in the right products being at the right place at the right time. Some of the most important strategies, and the benefits they offer, include:
- Predictive demand drives efficiency: Modern supply chains are complex, but the right technology can ensure the right inventory is in the right place;
- RFID enables accurate insights: RFID has become a must-have tool that enables retailers to know where everything is, from the warehouse to the store;
- AI keeps insights in order: The modern supply chain is too complicated for manual spreadsheets, making AI-driven insights a necessity; and
- Supply chain visibility impacts the bottom line: Retailers need to make sure they have the buy-in to reap the benefits of a stronger supply chain.