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Pete Palazzolo, Fixing Problems along the Retailer Supply Chain
Let’s discuss some of the challenges that retailers may face in the supply chain and how the use of smart mobile technology can help improve their business processes and improve profitability. The question is “how are problems along the supply chain hindering retailer growth?” What are some of those problems and how are they hindering retailer growth?
I think we’re still learning, as an industry, exactly what the effects are, but some of them are really clear. First of all, the lack of visibility of products across channels means that delivering on the multi-channel or omni-channel experience becomes difficult if not impossible. I can’t be as helpful to the customer if I can’t provide them with straight and accurate answers about the products they’re interested in buying.
From the customer standpoint, if I’m not able to get a good experience, I’m getting inaccurate information from your website or from an associate, it’s probably going to put a damper on how excited I am to come back and include you in my shopping process.
And generally retailers’ costs go up if they don’t have tight control over their inventory. In most cases it’s their largest investment and knowing what they have, where they have it, how much is in stock, how fast it’s moving, etc. is really, really important to keep their inventory costs down.
As I’ll detail in my blog posts, retailers need to be conscious of their supply chain and ensuring that they know everything they need to know from top to bottom.