Retailers optimize supply chains to meet shifting consumer demand
E-commerce, market volatility, and the need for efficiency are driving change across the retail landscape, survey shows.
Retailers are facing three key challenges as they strive to optimize their supply chains: The need to balance increased e-commerce demand with store demand (34%), demand planning and forecasting (33%), and improving efficiencies (30%). That’s according to a recently released study from software solutions and consulting services firm enVista.
The 2020 enVista Supply Chain Survey polled U.S. retailers for insight on their planned initiatives, priorities, and future trends regarding the supply chain, from warehouse through delivery to the customer. This year, the Covid-19 pandemic, combined with extreme volatility in supply and demand among omnichannel retailers, is shining a light on the need for a more efficient and agile supply chain, the researchers said. What’s more, growing consumer demands for visibility across purchasing channels and the ability to purchase and obtain products wherever and however they desire is also shaping supply chain strategies. enVista surveyed consumers in 2019 and found that:
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67% said inventory visibility across stores, online, and mobile is an important service for retailers to offer.
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65% said the ability to buy anywhere and ship anywhere is an important service to offer.
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And 48% said the ability to pick up an online purchase in-store is an important factor in choosing a retailer.
enVista partnered with supply chain solutions firm Kӧrber for its 2020 Supply Chain Survey.