{"id":1675670,"date":"2022-11-16T17:52:45","date_gmt":"2022-11-17T01:52:45","guid":{"rendered":"https:\/\/www.retailpro.com\/News\/blog\/?p=1675670"},"modified":"2022-12-05T11:04:14","modified_gmt":"2022-12-05T19:04:14","slug":"strategies-for-supply-chain-resilience","status":"publish","type":"post","link":"https:\/\/www.retailpro.com\/News\/blog\/index.php\/2022\/11\/16\/strategies-for-supply-chain-resilience\/","title":{"rendered":"Strategies for Supply Chain Resilience for the Holiday Season"},"content":{"rendered":"\n
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Many retailers are heading into the holiday season facing low stock and a reduced workforce, increasing the need for supply chain resilience.<\/p>\n\n\n\n

Investments in technology may be the fastest way for retailers to meet the needs of shoppers, particularly as stores are facing a shortage of labor as well as products.<\/p>\n\n\n\n

Omnichannel POS systems like Retail Pro Prism<\/a> help fill the gaps created by these problems.<\/p>\n\n\n\n

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Supply Chain Resilience Fills the Shelves<\/h3>\n\n\n\n
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Once a customer is in the store, keeping them there with a breadth of products is the key to sales and repeat business.<\/p>\n\n\n\n

Empty shelves are the enemy of the retailer.<\/p>\n\n\n\n

Spotty selection often equates to no sales and the customer is lost, perhaps permanently, to the competition.<\/p>\n\n\n\n

In addition, today\u2019s shoppers may not be as brand loyal as they may have been previously.<\/p>\n\n\n\n

Customers being ready to entertain brands they haven\u2019t been loyal to also demands that retailers stay abreast of trends to conduct successful merchandising.<\/p>\n\n\n\n

Retailers wishing to capitalize on increased desire for brick & mortar shopping would do well to heavily curate their selection<\/a>.<\/p>\n\n\n\n

A recent study found that 80% of retailers believe customers will prioritize stock immediacy over brands, so having a selection of similar products is more important than focusing on a top brand.<\/p>\n\n\n\n

Product visibility, from the vendor through the delivery dock, helps ensure retailers have stock when they need it.<\/p>\n\n\n\n

Product visibility encourages consumers<\/a> to shop in-store \u2013 seeing products they desire and wish to see in-person in stock across channels \u2013 regardless of any loyalty or lack thereof to that particular retailer.<\/p>\n\n\n\n

Omnichannel systems account for both online and in-store purchases and help customers as well as sales associates understand where inventory is located.<\/p>\n\n\n\n

To derive the most thorough data, they should be integrated with other technologies, such as point-of-sale technology, inventory tracking, and customer relationship management systems across all in-person locations as well as online stores.<\/p>\n\n\n\n

Customer data is also necessary to inform retailers\u2019 decisions about what to buy and when to buy it. Managers use SKU-level sales and warehouse inventory insights to gear up for holidays as well as to predict the next \u201cbig thing.\u201d<\/p>\n\n\n\n

During times of supply-chain uncertainty, getting stuck with unwanted products is a luxury that retailers can\u2019t afford. Planning can be more accurate and efficient by sharing inventory, sales and order data with vendor partners.<\/p>\n\n\n\n

In addition, accurate demand forecasting cuts waste in production, leading to more sustainable consumption and production.<\/p>\n\n\n\n

When demand is predicted more precisely, items can be manufactured and ordered according to customer demand.<\/p>\n\n\n\n

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Fill the Job Roster<\/h3>\n\n\n\n
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Business analytics can also maximize efficiency by providing instant access to store staffing data and order volumes. That helps managers plan work shifts and also improves employee productivity.<\/p>\n\n\n\n

Some retailers are automating more tasks\u2011\u2011for example, increasing self-checkout\u2011\u2011to accommodate a shrinking workforce.<\/p>\n\n\n\n

Others are looking to software that can help accurately target the timing of store visits so retailers can provide the personal touch when it\u2019s needed.<\/p>\n\n\n\n

Mobility tracking data provides retailers insights about what\u2019s attracting customers to shop in-store.<\/p>\n\n\n\n

Additionally, it offers information about where shoppers may linger, avoid and pass through. That data can be used to reorganize stock, change department layouts and set staff schedules.<\/p>\n\n\n\n

Anonymized tracking doesn\u2019t compromise customer privacy, but offers managers the ability to draw more meaning from analytics, and to understand customer behavior with greater accuracy and detail.<\/p>\n\n\n\n

COVID-19 taught retailers that they can\u2019t control major disruptions that impact the global supply chain.<\/p>\n\n\n\n

However, with proper planning and implementation of software tools they can increase visibility into their supply chains<\/a>, which will lead to better resilience through the holiday season — and beyond. With Retail Pro Prism POS<\/a> associates have visibility across stores and channels, and are able to quickly determine any weaknesses within their supply chain and possible solutions.<\/p>\n\n\n\n

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Is your omnichannel meeting customers\u2019 expectations?<\/a><\/strong><\/p>\n<\/div><\/div>\n\n\n\n

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Stock Inaccuracy and Omnichannel Operations<\/a><\/strong><\/p>\n<\/div><\/div>\n\n\n\n

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Challenges of using store inventory for online order fulfillment<\/a><\/strong><\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"

Many retailers are heading into the holiday season facing low stock and a reduced workforce, increasing the need for supply chain resilience. Investments in technology may be the fastest way for retailers to meet the needs of shoppers, particularly as … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":12,"featured_media":1675674,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[102,239,197,231,92,80,140,177],"class_list":["post-1675670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-announcements","tag-brick-and-mortar","tag-data-visibility","tag-inventory-management","tag-inventory-visibility","tag-omnichannel","tag-pos","tag-supply-chain","tag-unified-commerce"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t