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|The Innovative Impact Of Technology On Retail Supply Chain by Spazwik: 12:18pm On Apr 18, 2017|
Technology is an innovation no one or organization can ignore and it has come to stay. Advancement in technology is currently affecting so many businesses both small, local shops and as well as the giant retail stores. Most of these categories of businesses are affected because they have failed to follow or meet up with the current trend in Technology. Retailers that have not been able to keep up with the pace of technology have found themselves running out of business.
Technology and retail operations have been going hand in hand for years. Retailers winning today are those who have created an avenue to accommodate the advancement in technology and imputing it into their operation and logistics. Fifteen years ago, the average consumer was shopping from local small stores in communities but now because of the advancement in technology, some of this retail stores began to lose out of the competition.
First to arrive were the departmental stores, then came the mega shopping centers in Suburbs, where everything could be located within minutes under one roof, causing smaller stores to bow out to giant competitors. Advancement in technology got better over the years; a lot of strategies got introduced to the market like the power of distribution, the impact of advertising and branding, the use of social media platforms.
Consumers now could buy product items and services from the comfort of their home and avoid the daily traffic that occurs mostly in the cities, putting convenience as part of their shopping experience. One major area technology is transforming the retail industry is the supply chain. The supply chain of a company is the most important part of any business. It is not restricted to the size of the organization because every business must have a supply chain which ranges in the following sequence from suppliers, purchasing, production, distribution, and the customers.
However, the supply chain is faced with one major challenge, which is a weak link in the chain. If one of the departments in the chain is weak it can affect the consumer experience and ultimately affect the business. Since the inception of the internet, emails and other technologies the expectations of the consumer have grown correspondingly. Today, Companies are increasing globally and getting more innovative and coupled with competition growing from all corners. Almost everything today can be bought online and can be delivered to consumers.
A case study of this is Supermart Nigeria, an online grocery supermarket in Lagos, Nigeria. Supermart.ng has been able to make use of technology in their supply chain effectively. They have IT specialists who work on the user experience of the site. The Company leverages mostly on its online presence to complete 80% of its supply chain, from website ordering of goods to operations where all arrangement of delivery is being concluded then to home delivery of goods.
Consumers want cheap and fast delivery especially with the present recession in the country. Supermart.ng leverages on this by offering consumers discount on first orders, which is an advantage they have to physical stores.
- See more at https://www.supermart.ng/blog/the-innovative-impact-of-technology-on-retail-supply-chain.html
|Re: The Innovative Impact Of Technology On Retail Supply Chain by emeliaingram: 6:29am On May 19, 2017|
As technology advances, supply chain also advances. Innovative supply chain can be very competitive and efficient because in todays industry the businesses rely more on the technology that is why the services are being more effective and efficient. This will enable them to be more successful and more globally complexed when it comes supply chain and logistics industry. Technology can be very vital to a business.
BR International Supply Chain Services Australia
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