Why Millennials are Different and How Marketers can Engage Them! (Infographic)

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Infographic provided by Steve Hashman, Director Exponential Solutions at (The Cube) Marketing at https://www.cubemc.com/customer-engagement-strategy

 

Understanding your Customer is the first and most important consideration in designing, defining and refining your company and your go to market business model.

In the Retail sector one key demographic that demands consideration is that group called Millennials.  Whether it be Marketing, Merchandising, Supply Chain, or any other aspect of your Go to Market experience understanding what is important to Millennials is critically important.

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Lean in Retail … Value Stream Mapping your Current State Process!

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We had to begin the transformation of the company’s business processes to support the new business objectives.  Specifically the company was going to carry a dramatically different set of products which required a new set of capabilities in Strategic Planning, Merchandising, Marketing, Procurement, Inventory Management, Retail Operations and Logistics.

That scope defined the set of processes we needed to change first.  The overall goal was to enable the transformation of the company which would manifest itself in higher revenue, improved growth and profitability, greater customer satisfaction and superior employee engagement.

We decided to attack this by introducing the Lean technique of Value Stream Mapping to the organization.  We had to start with mapping the Current State process.

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9 Key Considerations of an Effective Last Mile Delivery Strategy

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Blog post created by Adam Robinson and originally published on October 2, 2017 on  http://cerasis.com 

 

Understanding last mile logistics is only half the battle. Shippers need to reevaluate their existing last mile logistics processes and devise an effective last mile logistics strategy that aligns consumer and business expectation.

This is the only way shippers can safeguard their position in the market and continue to provide products to their consumer basis. In fact, an effective last mile logistics strategy must consider these nine key points.

1. Planning Is Essential To Have an Effective Last Mile Delivery Strategy

Any effective strategy must begin with effective planning. Shippers must evaluate current last mile logistics strategy processes and create plans for managing the creation or adoption of an effective last mile logistics strategy. As explained by Tarra Singh of Supply Chain Beyond, this includes prioritizing planning and establishing standard operating procedures for managing last mile logistics

2. Leverage the Right Technology as Part of Your Strategy

One of the first problems with creating a last mile logistics strategy is cost. According to Mitchell’s NY, last mile logistics is seen as the least efficient leg of shipping, and it accounts for up to 20 percent of the total shipping cost of a product. Last mile delays and problems during delivery can eat away at fuel costs and seriously devalue a brand, but shippers can leverage technology, such as Big Data, to make small changes and improvements to last mile logistics processes.

Shippers considering implementing or upgrading technology to meet last mile logistics demands should also consider ease and speed of implementation prior to making any such decisions. E-commerce markets move at the speed of light, and unnecessary delays could result in customer losses.

3. Analyze Everything

Nothing should be off the table when considering an effective last mile logistics strategy and implementation. Shippers should analyze everything from the biggest to the smallest possible influencers.

4. Manage the Whole Last Mile Delivery Process

Shippers must manage the whole last mile delivery process in effective last mile logistics strategies. This includes the driver, the shipment, the trucks, the technologies used to track such shipments, online platforms and consumer devices. Obviously, shippers cannot track what consumers use their personal devices for all the time, but they can use metrics and Big Data to track what consumers are doing on their respective e-commerce sites.

5. Be Consumer-Centric

An effective last mile logistics strategy must be focused on consumer needs. This is the cornerstone of all modern logistics strategies, regardless of whether it is direct to consumer or business-to-business sales.

6. Think Outside-the-Box

Traditional standards of delivery do not work effectively in modern last mile logistics strategies. Companies must think of unconventional solutions to meet last mile delivery demands, like Uber, Instacart or Deliv. These app-based last mile logistics providers are disruptors, but they can enable shippers to meet consumers growing demands for faster, tighter delivery Windows.

7. Measure Performance

Amazon sets industry standards for last mile delivery, reports the Supply Chain Game Changer, and the e-commerce giant’s free shipping services, otherwise known as Amazon Prime, highlights why shippers must measure performance.

With up to 6 percent of consumers in the US willing to pay for same-day delivery and 28 percent of consumers are willing to abandon their shopping carts due to excessive fees, shippers cannot afford to forgo measuring performance. Performance measurement goes back to cutting costs wherever possible, without sacrificing quality or service.

8. Manage Returns Thoroughly, Effectively

Managing returns and reverse logistics are another consideration in creating an effective last mile logistics strategy, reports Industry Week. Retailer differences in SKUs and returns options for both e-commerce and brick-and-mortar store purchases can complicate the issue.

As a result, shippers should consider the form, function and placement of inventory, including inventory coming in from reverse logistics channels, in their entire warehousing and distribution network. This will ensure the company has product, even if it is refurbished or returned product, available nearest to consumers.

9. Location. Location. Location

One of the final considerations goes back to how quickly a product can be mobilized and delivered. It goes back to the location of the product and the location of consumers. Shippers must create robust last mile logistics strategies that shrink the distance between warehouse and consumer.

This might include using stores-as-a-distribution center. Ultimately, shippers that reduce this distance as much as possible and through as many means as possible will be able to create a tighter, more effective last mile logistics strategy.

What’s Next?

After crafting an effective last mile logistics strategy, shippers come to one ultimate conclusion. They need to revamp the technology and processes used in managing both overall and last mile logistics. Moreover, last mile logistics is key to reducing overhead and improving customer service.

As a result, more shippers will turn to technology and newer transportation management systems (TMS) to aid in the efficient execution of the last mile.

 

Check out  Last Mile Delivery! What is your Strategy?

#Retail #ECommerce #SupplyChain #Logistics

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Brick and Mortar Stores: Stand Up and Unite!

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It’s time for the Retail Brick and Mortar Store to stand up and be counted!   All of the talk about the demise of Brick and Mortar stores is premature.

In this age of E-Commerce the vast majority of retail sales are still conducted face to face in a physical store.  Even Millennials shop in a physical store 50% of the time.

The phenomenal growth of E-Commerce is undeniable.  But more importantly we must remember that customers want an OMNICHANNEL experience, NOT a Single Channel experience.

At the intersection of what the Customer wants and what the Retailer wants is the Brick and Mortar store!  This is where the Brick and Mortar Store is uniquely positioned to leverage its significant advantages!

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International Expansion in Retail (Infographic)

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Infographic provided by Patrick Thuot at http://storetraffic.com

 

“We are going to expand in to the U.S.!”

I heard this refrain many, many times.  The growth and success that a Retailer experiences as they expand in their original, domestic market inspires a level of confidence in the company’s ability to expand beyond it’s geographic borders.

But is it that easy? The road to international expansion in Retail has been successfully travelled but it is also lined with a lot of accidents and failures.

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To DC Or Not To DC? That is the E-Commerce Fulfillment Question!

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The fast growing E-Commerce channel makes it an attractive avenue for most companies to participate in.  The tremendous amount of investment required to participate in online product sales requires explicit decision making as to how a company is going to fulfill those orders.

The E-Commerce Fulfillment solution you choose must take into account your customer’s demands, your competitive pressures, and the financial constraints that most companies have to deal with.

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World Class E-Commerce Fulfillment Design Principles (Infographic)

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E-Commerce is the fastest growing avenue for doing business anywhere.  It has been for many years and it will be for many years to come.

It is certainly a challenge to establish the sales, marketing, merchandising and transactional infrastructure to offer an efficient and effective E-Commerce solution to your customers.

At the core of the Supply Chain an enormous challenge is to have a highly competitive and compelling E-Commerce Fulfillment solution.  So what are the key principles that you must have in place to design, construct and deliver a leading E-Commerce Fulfillment solution?

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