What Does The Future Hold For Retail Logistics?
With online sales already making up a huge proportion of retail sales, returning products is as important as purchasing them. Returning online purchases in store is now the norm. Customers are also looking for faster and faster delivery with some retailers looking at the same day and within the hour delivery.
Customers are looking for faster delivery (some retailers offering within the hour delivery) to their home, office, or designated drop of zone. This puts a massive strain on the supply chain and demands extra investment. This can be achieved through improved final mile logistics, urban warehousing, and smart inventory management.
Allowing customers to seamlessly shop online or in brick-and-mortar stores place greater demands on logistics and supply chains. With the simultaneous requirements of supplying individual customer orders as well as replenishing stock at retail outlets. The switch from single and multi-channel supply to omnichannel supply requires a complete rethink of supply chain logistics.
Circular Supply Chains
There's a move away from the traditional linear supply chain to the circular supply chain where manufacturers reuse and rework discarded and worn out products through refurbishment or by recycling components into raw materials.
I.o.T (Internet of Things)
IoT allows organisations to monitor inventory, automate stock reordering and keep track of deliveries, all in real time. Sensors can predict wear and tear on equipment, allowing timely ordering of spare parts. IoT increases supply chain transparency allowing for a greater understanding of how to improve efficiency.
Artificial Intelligence (AI)
With greater access to Big Data, more organisations are turning to AI and machine learning to simplify tasks and automate procedures. Gartner reports that in the four years to 2019, there was a 270% increase in the number of organisations using artificial intelligence in their logistics.
The Retail Supply Chain & Logistics Expo exists as a hub for retailers to improve their supply chain and revolutionise their logistics. Consisting of 200 leading exhibitors, and 100 industry expert speakers, the Retail SCL Expo gives visitors a platform to improve their supply chain and maximise their profits.
The show takes place on the 22nd & 23rd of Feb 2021 at the ExCeL London and is completely free to attend.