Industries
Retail
While the retail industry still faces extended challenges due to the current economic climate, many retailers are looking for opportunities to streamline supply chain process from vendor to distribution center. They are looking to collaborate with merchants and service providers while reducing costs, shipment delays and improve customer service. As such, retailers are instituting cutting-edge EPR and supply chain solutions that enhance efficiency, bottom-line and meet green business goals.
Grocery Chains
According to Nielsen Company's Retail 2015 Forecast, supercenters and e-commerce will continue to show growth while supermarkets will be faced with declined revenue returns. To effectively combat these market conditions, grocery chains will be looking for tools and technologies to help with cost savings, supply chain efficiencies and streamlining overall business processes.
Strong Supply Chain Performance
>According to the Grocery Manufacturers Association (GMA), consumer packaged goods (CPG) companies are seeing improved performance and increased efficiencies through strong supply chain strategies, and retailers should expect this to continue in the long-term. In addition, logistics costs are down, on-time delivery percentages are up, and CPG companies are enhancing inventory management. Outsourcing, intermodal transportation and IT investments in warehouse management systems (WMS), transportation management systems (TMS) and other technologies are helping keep costs down.
Use of Smart Phones and Retail
While 23 percent of mobile subscribers in the U.S. are active smart phone users, the next step in innovation in retail will be to use this emerging platform as a primary enabler of consumer shopping engagements. In addition, retailers will be looking to new technology innovations that will generate additional opportunities for enhanced brand awareness and sales growth. Emerging geo-applications will also play a critical role in providing highly targeted promotions and up-sell opportunities for consumers.
Strategies for an Uncertain Future
In order to bring about long-term business sustainability, Nielsen Company recommends that retailers focus on key priorities such as developing strong digital marketing expertise, plan for diminished returns from traditional media marketing channels, better nurture retailer and supplier relationships, become more flexible with selling formats (digital versus traditional), as well as demand forecasting by category and consumer segment. Most important, retailers need to be able to recognize and leverage new opportunities when they arise - from both a marketing and technology integration perspective.
How Can MorganFranklin Help?
MorganFranklin provides a wide range of solutions to help with the development of innovative ERP and supply chain strategies that allow major retailers and grocery chains to overcome business challenges that impact their bottom-lines. From business intelligence and homeland security consulting to process improvement and internal controls, our professionals have the expertise to help you navigate many of the challenges you face.
