Earlier this week, I was honored to be named to Supply & Demand Chain Executives’ 2017 Provider Pros to Know list. This annual awards program recognizes individuals from software firms and providers, consultancies or academia who have helped their supply chain clients or the supply chain community at large overcome significant business challenges.
Supply & Demand Chain Executive asked each nominee about the key challenges facing their customers and their supply chains in the year ahead – and how we are working to address them. In this week’s blog post, I thought I would share my response to this question by exploring several pain points many retailers are facing:
- The ability to capture accurate POS data by channel. Retailers now offer their customers many POS options. It’s critical they capture accurate information regarding where sales are made and where demand is fulfilled in order to optimally position inventory in the future.
- Gaining real-time inventory visibility from the purchase order to the DC to each individual selling channel. Moving from channel-specific inventory to shared inventory across channels enables retailers to react to variability in regards to where demand is coming from. However, it requires complete visibility into inventory at every level of the supply chain in order to efficiently fulfill demand.
- Adapting to a shift in modeling. Traditionally, modelling has focused on structured product and location hierarchies. But, it’s beginning to shift toward a focus on customer-preferences and product attributes. This calls for the capture of very granular, non-hierarchical data points – which must be available to the merchandise planning team in a way that is consumable.
- Creating a flexible supply chain configuration. Supply chains typically have been linear and fairly straightforward to set up. Nowadays, they must be nimble and provide a way for inventory to move forward, backward and sideways to be properly positioned. Configuring modern supply chains requires the use of complex rules that enable inventory to flow faster through them. Retailers can no longer wait for inventory to arrive at their DCs before being dispersed to stores – they need the ability to pre-allocate inventory from the point of purchase orders in order to reduce lead time. Cross-docking and pre-packs are additional techniques that retailers can use to facilitate supply chain time compression.
- Better anticipating demand. Today’s retailers must do more than simply monitoring demand and buying and pushing out inventory. Competing in today’s dynamic business environment requires insight into near-future demand, which drives multi-channel inventory execution to meet planned demand. Consuming information regarding customer shopping preference and buying behavior helps to better anticipate demand and supports the ability to project the movement of inventory to the appropriate channels.
To address these challenges, the JustEnough team and I work directly with our retail customers to understand how to best implement our fully integrated, end-to-end suite of omni-channel demand management solutions, as well as integrate with their existing systems. Our solutions are designed to make it easier for users to position their systems and processes to handle a flexible supply chain configuration.
Read our press release here, as well as the full list of Supply & Demand Chain Executive 2017 Provider Pros to Know here. Contact us today to learn how some of the world’s leading brands leverage JustEnough to streamline their business processes, make better decisions and achieve results that have a positive impact on the bottom line.