Augusto Beato of Portland SEO encourages businesses involved in logistics to adopt digital supply chain tools to meet customer service levels at the lowest cost and with the highest operational efficiencies.
Beato was reacting to a report by American Shipper, sponsored by U.S. Bank and Amber Road, which found that corporates continue to rely on legacy tools like Excel to manage their supply chains.
The survey found that 17 percent of companies have not adopted any digital supply chain tools, while 13 percent said all their supply chain processes are entirely manual. "While companies often cite costs as hurdles, they should start by understanding how these tools work to get a clearer picture on why they should prioritize and invest in it," said Beato, who is the CEO of Portland SEO.
Merchants seeking to boost their online sales may reach out to Augusto Beato for advice through this link.
Several technologies remain the focal point of supply chain innovation, including the Internet of Things, predictive analytics, blockchain, artificial intelligence, and machine learning. Among those that have utilized supply chain tools is footwear retailer Bata, which has deployed Oracle Retail technology to modernize its supply chain, reduce markdowns and unnecessary inventory investment, and improve margin potential.
Another is DHL, which plans to invest $300 million in emerging technology in 350 North American facilities. The technology being infused into these centers includes robots, artificial intelligence applications, and self-driving vehicles.
Meanwhile, Ernst &Young LLP and Kinaxis Inc will jointly provide supply chain services to facilitate planning, data management and connections between supply chain partners via EY’s consulting, automation and digitization services, alongside Kinaxis’ supply chain planning platform and machine learning offerings.
These solutions will help the company accurately plan inventory assortments, ensure right products are offered to consumers, as well as empower store associates to deliver enhanced customer experience with modern point of sale (PoS) systems.
“The complexity and continuing evolution of supply chain planning require experienced change management, process re-engineering, data integration, and implementation capabilities,” said Kinaxis Chief Revenue Officer Paul Carreiro in another statement.
Another supply chain software that companies will find helpful is Solvoyo, which achieves better service through better replenishment and without carrying too much inventory.
Solvoyo's solution provides multi-echelon inventory optimization (MEIO), which are prescriptive optimization techniques for adjusting inventory levels at different points in the supply chain. A company who used Solvoyo reported that it improved its inventory turns by roughly 35 percent and improved its cash flow by 35 to 40 percent.
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