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Retail Supply Chains in the New Normal
Supply chains have seen unprecedented challenges over the past few months. Demand has spiked in some areas, disappeared in others. This was further affected by supply issues, halted manufacturing lines, and closed ports. Consumers shopping behaviour has changed.
The crisis has revealed hidden weaknesses as well as opportunities in supply chains. Industry leaders are moving quickly to improve visibility, orchestration and collaboration. With so much uncertainty, how do retailers need to respond? And what do they need to consider in order to come out ahead during times of uncertainty?
While the full extent is still unknown, retailers across the globe are managing the disruption caused by COVID-19 in a variety of ways to better address the challenges which will continue to affect the retail marketplace.
Solutions in the form of new technologies such as Artificial Intelligence (AI) and Machine learning (ML) have enabled many retailers to respond faster and more effectively to the changes and it is has become critical to adopt these tools in order to succeed in the new normal