Overcoming Infrastructure Deficiencies in the Retail Supply Chain
The COVID-19 pandemic has had a direct impact on the retail industry in terms of consumer presence in brick-and-mortar stores, growth in eCommerce, and more, but it’s also highlighted some glaring inefficiencies and shortcomings in the industry’s supply chain. Notably, retailers lack visibility and data regarding their supply chain and its infrastructure, leaving them largely…
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The COVID-19 pandemic has had a direct impact on the retail industry in terms of consumer presence in brick-and-mortar stores, growth in eCommerce, and more, but it’s also highlighted some glaring inefficiencies and shortcomings in the industry’s supply chain.
Notably, retailers lack visibility and data regarding their supply chain and its infrastructure, leaving them largely in the dark and forcing reactive approaches to challenges as opposed to proactive ones.
Further, the industry as a whole has been slow to adopt solutions powered by artificial intelligence and machine learning that could help ease that strain and provide more actionable insights.
To explore where the retail industry needs to go from here in addressing these issues, MarketScale host Stephanie Otey invited Vikas Rajput, Vice President of Customer Success for OpsVeda, to share his expert insights.
OpsVeda is a platform solution offering AI-infused solutions that help enterprises engage in proactive agility, optimization and automation based on the discovery and analysis of key data patterns and more.
The duo dove into optimizing production tracking and downstream impact, assess raw material supply challenges, adapt to shipment delays and route changes, optimize inventory, and more, offering retailers a game plan for forging ahead in a world more connected and demanding than ever before.
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