From manufacturer to supplier to retailer, this is the fundamental journey each product undergoes before finally landing on hands of the consumer. To maximize customer value and achieve a sustainable competitive advantage the role of Supply Chain Management is pivotal. It is the management of the flow of goods and services and includes all processes that transform raw materials into final products. It involves the active streamlining of a business’s supply-side activities to maximize customer value and gain a competitive advantage in the marketplace. Any glitch or failure to meet expectation can sabotage the established customer base. So in order to provide an efficient user experience a sustainable supply chain need to be tracked at every stage of operation.
In today’s fast paced e-commerce business ecosystem, in Pakistan many organizations still lag behind when compared with global technological advancement. Majority of businesses SCM even today linger on conventional bar code system applied to scan the data and in some supply chain professionals enter the data manually resulting in slow tedious error prone processes. In contrast thereto their smart contemporaries have acquired exponential growth by usage of advance technology through RFID(Radio Frequency Identification) System producing far more superior results with efficient performance.
RFID technology possess the capabilities to fully automate the product identification in the supply chain process.
Radio Frequency Identification (RFID) is a data collection technology that uses radio signals to to collect data from tags attached to objects such as assets, inventory and people etc.
The most important advantage of RFID unlike bar code is that it can scan more than one object at a time providing time and labor economy and improved process efficiency.
Real time availability of data streamlines demand planning based on actual transactions and historic data giving businesses competitive edge.
For timely data about market demands and enhanced inventory visibility RFID produces accurate and real time information of work-in-progress, in-transit, and finished goods, projecting an immediate impact on revenues while retaining losses.
A comprehensive RFID solution helps to automate tracking of shipments moving across different touch points of supply chain increasing overall efficiency and accurate data access in your shipping system.
In current fast paced business environment manual tracking of shipments can be both time consuming and error prone, but with RFID monitoring solution you can keep a better insight into the whole process.
]]>With passing by of each year, where digitalization and e-commerce is on the rise has lead many to believe “Is Brick-And-Mortar” ageing to its demise?
Online shopping benefits are quite in number but physical stores still hold a strong key advantage over e commerce, especially for fast moving consumer goods. Aside from immediate fulfilment of shopping need, the gratifying instore experience still lure greatly to attract shoppers.
While brick and mortar retail has been hit hard during COVID 19 alongwith with rise in e commerce but simultaneously energized retailers to defend them in this crusade with new business innovative models adopted by store operators to retain their customers.
Instore digital enablement options can create a huge impact on convenience and personalization of online into brick- and-mortar stores for consumers. However, in this competitive environment retailers are adding value by using digital tools assisting consumers to take control of their experience alongwith boosting sales, customer loyalty and retention. Today, only a small percentage of customers around the world are exposed to digital enablement options with in stores, while willingness to use them is quite high if made available.
Consumers have more shopping choices than ever, and as channels proliferate, protecting and building store loyalty is no easy task. To keep customers coming back for more, it is crucial to understand what drives them to switch one store for another or shift to e-shopping mode. Money makes the world go round so it is no surprise that price is the top driver of store switching behavior whereas quality, convenience and selection are main determinants for retailers to retain customers loyalty.
While in-store digitalization is optimizing consumer experience, in all respect it is shaping into brands and retailers best friend, simply because it is creating opportunities for stores and brands to gather as much useful consumer data as possible.
Instore technologies such as navigation apps powered by Bluetooth (BLE) beacons while help shoppers find products in a guided useful immersive way, on the other hand enable brands to promote their products right on the shopping carts enticing purchases and gather insightful data in the form of heat maps with in the store.
Retailers can bridge the gap between worlds and succeed in the new retail environment by adding value through digital flavors.
When developing digital initiatives, retailers and manufacturers need to consider whether they’re creating value and clearly communicating the benefits to consumers.
Retailers and manufacturers should continuously monitor performance to understand how shoppers are responding to marketing touch points and ensure they’re optimizing their touch-point mix to yield the highest ROI.
Adaption of technology can help different categories in different ways. From the use of artificial intelligence to automation via RFID technology with a linear approach retailers can achieve greater sales and reduction in operational cost.
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