3 Keys to a Customer-Centric Supply ChainI
n today’s customer-centric retail market, product life cycles are shortening, new product announcements are occurring at a faster rate, and customers want what they want faster than ever. Supply chain professionals are feeling the heat as 73% of them say they’re experiencing pressure to improve and expand their delivery capabilities as a result of increasing customer demands, according to a recent project44 survey.
To meet increasing customer expectations for faster and more transparent delivery, it’s crucial for supply chain professionals to process and deliver goods faster, increase communication and collaboration, and quickly provide customers real-time information into where their deliveries are and when they will arrive.
Many of today’s consumers are demanding more from businesses in terms of lower costs, faster delivery, and greater transparency. These expectations are affecting the entire supply chain landscape as consumer-facing organizations are increasingly demanding speed, visibility and transparency from their own upstream supply chain partners as well. To meet customer expectations, businesses are adopting a more digital approach by leveraging new technologies in which real-time tracking and advanced analytics enable end-to-end optimization, visibility, and a superior customer experience. Developing a digital supply chain reduces operational costs, creates competitive advantages, increases customer satisfaction and drives business growth.
As supply chains strive to deliver goods faster, it’s more important than ever to have instant access to accurate, detailed information. Outdated, manual approaches to supply chain visibility often don’t offer a complete view. However, a real-time visibility technology solution that connects all key stakeholders in the supply chain, including shippers, carriers, logistics services providers, and customers allows businesses to make smarter decisions, reduce costs, increase efficiency, and better manage customer expectations. With real-time visibility, delivery tracking, reliable ETAs and alerts, shippers can manage operations more efficiently and resolve potential problems before they occur leading to a better customer experience and improved service.
Companies in various industries face common issues such as a driver shortage and capacity fluctuations. They often have fleets traveling similar routes to the same or nearby destinations. Asset sharing, including warehouses, trucks, and drivers, is helping companies meet customer demands for fast delivery service. With limited warehouse and transportation space available, companies are looking for ways to collaborate with each other, as well as competitors, to increase productivity, improve service, and manage costs. Shared networks can lead to improved asset utilization for companies, which will ultimately lower supply chain costs.
Using digital innovation to improve supply chain efficiency, transparency and collaboration has become a necessity for companies to continue to grow and maintain a competitive advantage as the industry continues to evolve. Supply chain leaders must identify where to innovate and invest in new processes and technologies to help their companies remain relevant and address rising customer expectations for better, faster delivery service.
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