While supply chain issues may be decreasing in 2022, they are not going away. Fortunately, companies are creating software that provides retailers with the foreknowledge to make decisions ahead of the game and beat supply chain bottlenecks.
The main kinks in the supply chain are shipping and distribution. In terms of shipping solutions, communication has to improve along the entire chain. The answer is technology allowing retailers to forecast demand, anticipate inventory needs, and relay information to suppliers. When retailers can predict needs and communicate them to suppliers, they are able to stock the inventory they require.
The cure for the supply chain’s distribution and delivery bottlenecks is automation and streamlining. When technology cuts time in the supply chain process, manufacturers can minimize delays dramatically.
Supply chain solutions for store merchandise forecasting
Today’s retailers face pressing problems when forecasting the merchandise they need. First, they have limited or no visibility of the items in transit to their stores. Because of this, they are unable to prepare their stock and sales floor before receiving shipments. This lack of knowledge prevents them from accurately predicting staffing and inventory needs.
Proxima360 is addressing complex business needs with high-impact solutions. The company feels that software which allows retailers to view shipment items and SKUs prior to arrival is the key. With this in mind, they have designed a single-view dashboard enabling fast and efficient shipment visibility. This insight boosts efficiency by allowing retailers to prep their stock rooms and sales floors before inventory arrives. Improved merchandise visibility means improved staff efficiency and customer experience.
Supply chain solutions for inventory allocation
Today’s retailers face three main challenges when allocating their inventory:
- They are unable to accurately order merchandise using size demographics.
- Repetitive data entry confuses the process.
- Manual workarounds to compensate for these problems require extensive labor hours.
Proxima360 has developed software that offers solutions. Retailers upload spreadsheets directly into the allocation system, and the software’s artificial intelligence (AI) employs size profiling to distribute merchandise. The software’s algorithms analyze demand and make inventory decisions before the need arises.
Such software offers a glimpse into the future of retail. Efficiency in stores and warehouses increases as retailers enhance receiving operations. Redundancy and repetitive processes decrease as retailers automate workflows.
Supply chain solutions for mid-market retailers in e-commerce
Post-pandemic shopping trends are forcing even the most reluctant brick-and-mortar shops to create an e-commerce marketing presence. Retail Touchpoint’s survey highlights the trend that over half of all sales are moving to mobile devices, and the adjustments for retailers are daunting:
- They struggle with the supply chain’s delays and general lack of order fulfillment optimization.
- They are playing catch-up regarding inventory control and planning.
- They have to contend with inaccurate retail forecasting due to shrink, a broad term that covers the loss, theft, miscounting, or damage of products in the store or warehouse.
Proxima360 believes software can support the distribution of products by reducing shipping and operational costs while increasing margins. The tech tools they have innovated provide retailers with carrier returns and payroll dashboards. They also allow brick-and-mortar locations to generate reports incorporating e-commerce and site-based sales. This combined view of digital and on-site retail metrics enhances accurate forecasting.Today’s retail decisions boil down to accurately predicting product demand and preparing in advance. To learn more about how software enables smooth operations and sales despite continued supply chain issues, readers can visit Proxima360’s website.
