What defines a good supply chain? Does it get the right product at the right time and at the right place? How efficient is it in cutting costs around inventories, transportation and warehousing?
Besides merchandising , supply chain insight is another key pillar to retailers. These are the two key functions that determine a retailer’s capability to compete. After merchandise cost, supply chain costs are the next big costs to a retailer. Supply chain operational and cost efficiencies will have a direct impact on retailers’ competitiveness. Even a small savings on this cost would mean millions of dollars added to the bottom line for the retailers.
Supply chain typically covers the network planning, demand planning, supply planning, logistics and distribution operations.
Retailers are challenged with tens of thousands of products to phase out, to renew, to replenish and to add to the stores based on customers’ demographics, seasons, fashions, competitors and economy.
How fast a retailer is able to respond to changing demand depends very much on its supply chain. Having an in-depth visibility into your supply chain’s performance makes you nimble in re-balancing your stocks across your distribution hub, warehouses and stores.
Supply Chain involves multiple stake holders across the organisation. The collaborative engagement across multiple touch points is made possible via our analytic application. For example, ascertaining how much to order in anticipation of possible demand that will be generated through an impending campaign. It involves close collaboration between the marketing team and the operation department and that is facilitated if both departments share the same visibility into the whole operation.
Given visibility into the stock level at store level, factoring in goods-in-transit information and inventory on hands, it serves to ensure that retailers will not encounter a stock- out situation resulting in lost sales.
A great constituent of costs comes from the various elements that formed the supply chain. One of which is transportation management or logistics. To ensure better cost –containment, data visibility provided by our analytic application can help to better consolidate orders, optimize load and route, provides better carrier management from selection, tracking. tracing and performance evaluation. Managing all these well will translate into competitive pricing and value to your shoppers, thus retaining customers’ loyalty and keeping a good profit margin for the retailers.
The Supply Chain Insight helps to:
- provide accurate demand projection and inventory planning
- provide cost containment in logistics management
- provide retailers direct control on costs through better planning, optimization and execution
- prevent bottle-neck in stock-out situation and impending profit loss
- provide close evaluation on carriers’ performance
- provide intelligent procurement with timely data
Agile Insight Pte Ltd
1 Raffles Place #44-02
One Raffles Place Tower One
T : +65 6750 4760
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