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Retail industry up for disruption: Only technology can help!
The Retail industry is facing customer demanded transformation with expectations for order anywhere and receive anywhere as the norm, in this article we highlight the key challenges that will be faced by the industry and the opportunity that these create.
Here are the top challenges Retailers will face in 2017
Cross Channel or Omni Channel
will transcend Supply Chain into Value Chain
- The partnership between retail and distribution channels will determine the success of current and future Retail Value Chains. Leveraging the demand and fulfillment capabilities to the optimized levels and also how well these partnerships are coordinated will determine the overall customer experience that is seen by the customer.
Growth through digital marketing
- Customers will need to be invited with targeted content that will grab their attention and retailers who do this will see good growth. This will be a key differentiator not only in established western markets like US, but also in emerging markets like India.
Value Chain Data Driven Analytics will drive not only revenue but also reduce cost.
- Artificial Intelligence and Machine Learning driven analytics will enable retailers to determine who to sell to, where to sell to and at what price to sell.
Our Value Chain Solution platform “Planning-in-a-box
” helps retailers and distributors in planning and optimizing the overall value chain for both revenue growth as well as optimizing cost.
- For the basic retailer and distributor, it enables to have a coordinated value chain plan that can help both achieve their growth and cost targets either in co-ordination or separately.
- For those seeking higher end solution the machine learning and artificial intelligence models can help link the supply to demand and assist in making appropriate fulfilment decisions especially in an Omni Channel mode reducing revenue loss, reducing fulfilment costs while maintaining expected customer service levels.