Today, retail supply chains are longer and more complex than ever. Along with intricate data sets and the management of widespread suppliers, supply chain management teams must satisfy the high expectations customers have come to expect in terms of service and reliability. Supply chain managers have to continuously do a balancing act between controlling costs and meeting service levels. On one hand with decreasing loyalties out-of-stock inventory and late deliveries to the store means lost sales. But on the other hand increasing competition also requires clamping down on inventory costs and distress sales. This dichotomy has forced many retailers and their suppliers in various industries like CPG, Hi-Tech and Fashion to adopt complex techniques to ensure optimal on-shelf availability.
Traditional tools fall short of the capability needed to handle today’s fast paced supply chains. To start with they typically have a delay of few hours to a day in acquiring and analyzing data, which means delayed visibility and not able to keep up with the fast paced changes that are common today. Further these tools do not have the flexibility needed to do the complex situation specific analysis that supply chain managers demand.
With traditional supply chain management solutions, supply chain managers can’t analyze data until after the fact. Therefore, they can’t detect problems or make the quick adjustments that are needed to prevent issues from affecting the customer.
However, with solutions like the OpsVeda Supply Chain Management system that deliver real-time analytics, they can resolve issues in a timely manner. With real-time analytics, they can monitor events across their supply chain in real-time to attain the much needed end-to-end visibility. Such tools referred to as Operational Intelligence Platforms or Business Execution Platforms also enable predicting disruptions to the supply chain. This enables proactive action that can prevent problems. For instance, with OpsVeda’s Supply Management system any inconsistencies in the procurement process are detected immediately when as events related to the transactions occur. The solution predicts how issues will impact the retail supply chain downstream and simplifies the decision making process for the procurement operations team.
To improve the efficiency of your retail supply chain, utilize OpsVeda’s Supply Chain Management solution, available at SAP HANA app center.