It is an era where the purchasing behaviour of consumers is going through a drastic change in the lieu of transition from in-store to online e-commerce. This leaves the manufacturers confused for choosing between multichannel transport software or omnichannel transport software. Retailers, for being the one who is bound to keep up with any consumer behaviour change, are still unsure about the type of supply chain which will be more fruitful for the future. We tried to find the correct answer in the facts and figures to know which type of transport software are going to rule in the future. Interestingly, the consumer purchase trends can be broadly classified under 3 segments of millennials, GenX, and seniors(this includes senior citizens as well as baby boomers). It goes unsaid that the current trends for Millennials and GenX are predicted to turn into the trends for senior consumer segment down the line in a decade or two. This means that the trends from this segment will be pivotal in deciding the nature of future transport software.
Unsurprisingly, 67% of the millennials and 56% of the GenX shoppers are inclined to make a purchase via online channels. This is in comparison to only 41% from baby boomers and 28% of the senior shoppers. This clearly indicates that a transport software which supports an omnichannel supply chain is crucial for the retailers to keep selling successfully to a maturing consumer base. By 2018, shippers are also expecting to see the steadily growing online retail sales reaching a mark of 8.8% in the total retail sales. This not only reinforces the idea that transport software solutions need to go omnichannel to stay relevant but also indicates that online retail is going to see an upward trend in the near future too. It is not that the rise of online retailing is been a surprise to shippers, shippers have always expected that. Even retailers are expecting a that the online revenues will increase by 40% in the next 5 years. It is just that the growing need of transport software solutions to not fall into the single category to tap consumer segment of all types is catalysing in adopting omnichannel solutions. Retailers are also preferring to go for omnichannel transport software in the hopes of winning in-store sales too with a dependable omnichannel supply chain fueled by robust transport software solutions.
Which transport software solutions are contributing in achieving an omnichannel supply chain?
Transport software solutions need to focus on few special features in order to achieve the objectives of an omnichannel supply chain. These functionalities are based on the requirements which are encountered in achieving a fully functional omnichannel supply chain irrespective of the nature of channel involved. While we are focussing on describing the basic features, we are also mentioning their respective objectives and utilities which can help the retailers to improvise their business decisions.
Item tracking & automated inventory update
Radio Frequency Identification (RFID) tags, Automated Identification and Data Capture (AIDC), Bluetooth communication and cloud computing have made it possible to track every single unit in the inventory. While these solutions were earlier utilized for asset tracking and safety purposes, now we need them for inventory management to ensure seamless operations. Item tracking compiled with automated inventory status update ensures that the consumer can be provided with the exact product status irrespective of the channel opted. The data which is generated by tracking the inventory status for the different product also ascertains that with proper analysis the retailer can equip the inventory with smarter sourcing decisions.
Expansive data integration capabilities
An omnichannel supply chain works on the basic principle of providing streamlined consumer experience over all channels of purchasing. This needs the complete supply chain to be able to communicate the real-time status of the offline as well as online sales to calculate the exact inventory status. Failing this crucial step, the supply chain can fall out on providing a satisfactory consumer experience due to discrepancies in the offline and online shopping experience.
Robust supply chain CRM tools
To achieve this, transport software solutions targeting to achieve an omnichannel supply chain resort to a strong Customer Relationship Management (CRM) tool. CRM works dedicatedly for providing a holistic experience to the customer regardless of the sales channel used by him/her. This means that the CRM is able to fetch the key details needed by the customer to proceed with the purchase from all the sales channel in real time. Thus the customers are able to analyze themselves that which sales channel is more convenient for them rather than getting dictated by the constraints of the retailer’s supply chain. This makes a huge difference for the consumer satisfaction as they can now have a sense of freedom to choose while making a purchase while getting same consumer experience across channels.
What is stopping supply chains from going omnichannel?
Acquiring an omnichannel supply chain with dependable transport software solutions is easier said than done for most of the shippers. The operations remain same but to maintain a uniform experience with the streamlined consumer experience, transport software solutions need to be equipped with various functionalities. The major challenge of enterprise-wide data integration is already discussed but there are many similar requirements which are the foundation for an omnichannel supply channel. Shippers often struggle with finding an efficient development partner who can understand their infrastructural constraints and develop customized solutions as per their needs.
Technology evolves with the changing consumer trends and thus dictates the business requirements. The purchasing trends across the consumer segments have strengthened the belief that we need transport software solutions which can help a supply chain to become omnichannel to stay relevant in the market. The same conclusion drives many shippers to us consistently demanding for transport software solutions which can become a backbone of an omnichannel supply chain. We never disappoint our clients and have always come up with some innovative transport software solutions which are able to serve the purpose. If you are looking for transport software solutions which can help your supply chain to stay competitive in the changing business scenario, connect with us. We have always managed to deliver simplified technology solutions.
DreamOrbit is a Logistics and Supply Chain Technology Development company. We have been creating meaningful and reliable software products for the industry which is “Always on the go” for the past half decade. We are highly motivated team aimed at innovation. Our philosophy is to “keep challenging the potential within”. With the support of our happy customers and dedicated team, we strive to provide best possible solutions to industry problems. Visit our website to know more about DreamOrbit.