In today’s challenging market where supply, demand, and fulfillment variables are rapidly changing, retailers must continuously assess, adjust, and optimize their supply chains to reduce volatility, and improve agility and speed – all while continually balancing service and cost.
Retailers must elevate supply chain capabilities to serve the needs of today's consumers while increasing efficiencies, reducing costs, and continuing to improve the customer experience. According to enVista’s 2020 Supply Chain Survey, as retailers evolve their supply chain to meet short- and long-term requirements, the top three challenges they are encountering are the need to balance increased e-commerce demand with store demand (34%), demand planning and forecasting (33%), and improving efficiencies (30%).
enVista CEO Jim Barnes said, “We are proud to partner with Körber to provide the most comprehensive digital supply chain survey in the industry. The right digital supply chain strategy takes a holistic approach to optimize processes, technology, inventory, labor, and facilities. Advancing supply chain capabilities and control while leveraging next-generation, agile solutions remain imperatives for retailers’ omnichannel transformation strategies and profitability. enVista is helping hundreds of retail brands rapidly optimize and transform both physical and digital commerce end-to-end, from source to consumption and from order capture through fulfillment. Our software and consulting solutions improve the customer experience, optimize omnichannel order orchestration and fulfillment, improve gross margin return on inventory investment (GMROI), and accelerate omnichannel profitability.”
“Today’s retailers’ reputations rest on how well they can adapt to consumer demands – that means managing a wide variety orders delivered when, where and how their customers expect,” said Bill Ryan, chief executive officer, North America for Kӧrber Supply Chain – Software. “At Kӧrber, we’re dedicated to providing the software, automation technology and global team of experts, including partners like enVista, to assure retailers are empowered with the right solutions to conquer today’s supply chain complexities and meet heightening consumer expectations.”
With today’s immense challenges due to the COVID-19 pandemic disrupting and debilitating the traditional retail model, plus the extreme volatility in supply and demand experienced by so many omnichannel organizations, the need for an efficient and agile supply chain has become ever more apparent. A not only resilient, but optimized supply chain is imperative to success, directly impacting sales, customer service, brand loyalty, and competitive advantage. According to enVista’s 2019 Consumer Study, consumers expectations include researching, purchasing and obtaining products wherever and however they desire as validated by these findings:
- 67% of consumers indicate that inventory visibility across stores, online and mobile is an important service to offer
- 65% of consumers indicate that the ability to buy anywhere, ship anywhere is an important service to offer
- 48% of consumers indicate that the ability to pick up an online purchase in-store is an important factor when choosing what store to shop at
The 2020 Supply Chain Survey of U.S. retailers offers insights into and an understanding of U.S. retailers' planned initiatives, priorities, and future trends regarding the supply chain, from warehouse through delivery to the customer.