Industry TalkRegular Industry Development Updates, Opinions and Talking Points relating to Manufacturing, the Supply Chain and Logistics.
Retailer clash spells need for new supply chain era based on better data
Soaring prices and the ongoing cost of living crisis continue to hinder supply chains across the globe. Increasingly, suppliers are battling on price with retailers, and it is only a matter of time before we see more UK retailers falling into a pricing gridlock, threatening the efficiency of the supply chain, causing real-life disruption to customers on the high street.
To combat these emerging challenges, supply chains must have and use real-time data to create contingencies or risk denting customer confidence.
The use of data can enable suppliers to benefit from having an accurate view of their entire operation. Drawing on real-time results, organisations can easily locate bottlenecks and see where they can cut costs without compromising on quality or having to substantially raise prices.
In today’s era of uncertainty, supply chains need to rely on human intelligence combined with cognitive automation to glean the best business results. With real-time data at their disposal, organisations still have the power to do more, be more, and mean more to customers for less.