"Retailers today are faced with an increasingly volatile market. The ability to transform their market channels in an agile manner is now a condition for survival in this environment. Mobile phone technology, the internet, social networks, and other elements are only the beginning of this revolution."
Robert Handfield, Director, Supply Chain Resource Cooperative
(http://SCM.Ncsu.edu/blog), Bank of America Distinguished University Professor of Supply Chain Management, NCSU
The dynamism of technology continues to increase the pace of retail channel advancement, FreshMinds was commissioned to take the temperature of change particularly against the rise of the smartphone and internationalization.
One of the challenges facing multi-channel retailers in 2011 is the potential for sudden surges in demand through channels which are under-prepared for growth.
With the exponential rise of smartphones and multi-channel integration the consumer expects the same brand experience across all channels.
The M-consumer is now able to scan a product’s barcode and instantly search for the product across local and global rival retailers.
Click-and-collect is set to rise as consumers, literally ‘on the move’, seek to order ahead for collection at their destination.
M-commerce sites, smartphone functionality and retail apps will act as a catalyst for sales. This is likely to put pressure on stock and inventory management, fulfilment and the supply chain infrastructure.
Retailers need to optimize supply chains in preparation for this ‘new wave’ of cross-channel ordering requirements to fulfil demands and meet the customer experience.
As retailers extend market reach through e-commerce into international markets, they are faced with the dilemma to fulfil from the home country or hold stock overseas.
