Guest Column | By Corali-Lopez Castro and Mindy Kubs, Kozyak Tropin & Throckmorton
If the past is any prediction of the future, we can expect future bankruptcy filings by those retail companies nearing maturity on significant debt obligations, while at the same time experiencing decreased profits caused by under-performing stores and an inadequate e-commerce platform.
All businesses aspire to provide the ultimate omni-channel customer experience. Aspiring is easy, but achieving is difficult, with fulfillment often being the most challenging area to master. Delivering the perfect order requires a delicate balance of inventory visibility, routing logic, and strategies for dealing with exceptions.
As a general rule, the larger the printer the larger the price tag, but the cost benefits of choosing a smaller printer can be offset by sacrifices in efficiencies. It’s important to choose a printer that adequately meets your needs without paying for unnecessary capabilities.
Shipping isn’t free to the retailer, and it costs even more when it’s expedited. That reality has forced retailers to develop delivery strategies that allow them to retain their best customers while still making money. What have emerged are nuanced approaches to fulfillment. Instead of an all-or-nothing approach — free shipping on everything versus charging everyone what shipping costs us — merchants are coming up with creative solutions.
Craig Kelly, group product manager for Overstock.com, explains how the internet retailer was able to deliver data science at scale and improve data science velocity by over 500 percent resulting in an improved customer experience. Overstock.com also decreased the cost of moving models to production by nearly 50 percent, and data scientists can stand up new models five times faster than previously required.
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