Consumer Convenience over Loyalty. Supply Chain has become a critical business enabler!
Online purchases are growing year-on-year. Additionally, consumers expect faster delivery times and instant receipt wherever they are in the world. Many experts highlight that brand loyalty is continuously declining as consumers attach more value to “convenience”. However, convenience requires optimal Supply Chain processes, which is still a challenge for many local, national and global businesses. How are well-intended business able to meet these evolving consumer demands.
Recently, big-brand organisations have been filing for bankruptcy. These include warehouses, large toy stores and other similar bricks-and-mortar businesses, further confirming this consumer shift. It clearly shows how many well-established businesses are still lagging behind in adopting future-proof, customer-centric supply chain model. By not putting their consumer at the forefront of their supply chain model, and looking at e.g. digital supply chain processes, real-time inventory management, BlockChain solutions and extend existing technologies, we have seen how these organisations are slowly disappearing from the retail landscape.
This consumer transition from brand loyalty towards “convenience”, e.g. how can I receive my purchases instant and in any location, is a clear shift from the “old loyal consumer”. This supply chain focus has impacted many established brands and experts believe that this will only exponentially increase. So how is your business able to meet these evolving consumer demands?
In the latest articles around Supply Chain predictions for 2018, organisations are urged to adopt innovation, understand new technologies and use “existing” information (internal and external) more effectively to increase their supply chain effectiveness. Even though it’s easier than ever to create new products or services, it’s still a challenge for many organisations to timely deliver these to their consumer’s doorstep. In the last 5 years, Supply Chain has evolved in such a rapid tempo that many organisations have struggled to keep up.
At Unique Excellence, we have experienced how successful organisation have been able to make transformational impact to their business, by simply collaborating with (our) external Supply Chain Innovation Consultants or have started to create collaborative partnerships with Supply Chain or BlockChain start-up organisations to increase their Supply Chain Agility. Only through effective partnering with external resources, we have seen how these organisations are able to deliver a more comprehensive supply chain service to meet the increased consumer convenience....
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