Supply Chain and Consumer Industry
The world of supply chain is evolving due to advanced technology. KPMG offers insights as to how 'smart' supply chain trends will emerge in the year 2024 with a focus on AI, data and ESG. Read more at KPMG, Online 2024.
Experts believe that reinventing the approach to customers should be one of 4 focus points for supply chain executives already today to outperform competitors over the next couple of years. Focusing on customer satisfaction might soon not be enough. Enabled customers (e.g. ones that are provided with gift wrapping upon delivery, which saves time and effort) are twice as willing to repurchase as customers who were merely satisfied. Read more about 3 other equally crucial areas at Gartner, Online 2023.
The environment, we are living in today, is much more volatile than what we have seen in the last 20 years. The invasion into Ukraine, Omicron, lasting inflation, supply chain crisis, energy crisis, the return of COVID-19 in China. Fashion suppliers and brands are facing significant economic and geopolitical challenges. Business has to rethink tech from front end to back end. Investments in the digitizing the whole supply chain end to end is a big topic in fashion industry. Brands have to be ready to dress their consumers according to their demand. Many consumers are in "traveling mode" after the pandemic. Sustainability demand is as high as ever. To stay competitive experts, recommend not to put all eggs in one basket. Business has to be active in different geographic regions and across different product categories. Read more at McKinsey & Company, Online 2022.