Is your supply chain keeping up with the times? That's the question RILA and Auburn University's Center for Supply Chain Innovation are exploring in our annual "State of Retail Supply Chain" report.
For the past seven years, RILA has worked with today's top retail supply chain executives to find out what challenges and wins they're seeing as supply chains continue to evolve.
This year's report is the culmination of research derived from industry hot topics, executive input, and emergent issues. To obtain the most comprehensive research, we sought participation from organizations with annual revenues above $1 billion, omnichannel capabilities and broad geographic activity.
The report provides in-depth analysis of the most front-burner issues facing America's retail supply chains and highlights tools and best practices to compete in an evolving marketplace.
When delving deeper, we've found that retailers identify three supply chain capabilities that are augmenting the digital transformation of industry:
- Enhancing order fulfillment capabilities
- Incorporating extensive use of stores for fulfilment
- End-to-end supply chain planning
One of the main takeaways from the report focuses on striking the balance between omnichannel costs and revenue growth. Retailers are realizing that an increased focus on the supply chain is the key to profitably serving customers. To achieve success, retail must invest in supply chain teams that excel at primary fulfillment roles, figure out how to best utilize stores that were never designed for large scale fulfillment, and develop strong capabilities in areas previously managed by other groups. With the proper oversight and investment, supply chain success will enhance retailers' financial vitality and outlook.
Are you getting the most out of your retail supply chain? Find out more here.