New research reveals that 88% of retailers with new supply chain initiatives said it has helped them exceed customer expectations; and 84% claim these efforts allow them to give customers more control over their shopping experiences.
"Internet of Things (IoT) endpoints are becoming ubiquitous thanks to a predicted compound annual growth rate (CAGR) of 32% from 2016 through 2021, according to Gartner research published in December 2017. These endpoints have the potential to disrupt order-to-cash processes and will enable digital optimization by creating new ways to serve and collaborate with customers and channel partners." Despite the expected disruption, the new report also revealed that only 22% of respondents have already or are currently investing in IoT. "However, in terms of the dollar value of spend on supply chain IT, only 18% of budget spend is put toward supporting innovation and agility to transform operations and create sustainable advantage."
Succeeding in today’s ever-changing digital commerce world requires mastering a complex mix of people, process and technology innovations that must all work seamlessly together. Organizations face myriad of choices — from developing the right strategy to building a high-performing team and laying a solid foundation of the right technologies.
To keep pace with growing consumer expectations, retailers must be equipped with modern order management systems that greatly expand their fulfillment capabilities. However, many still lag behind. To gain insight into these challenges and retailers’ top priorities for a future OMS investment, Radial partnered with Incisiv to conduct a quantitative survey of retail executives spanning key business functions across the retail supply chain.
In the old days, consumers went shopping because they had to. However, thanks to a plethora of new options, consumers today must now be inspired to want to shop. To improve the customer experience, retailers are looking toward many different options, such as buy online pick up in store (BOPIS), click and collect and ship-from store. While convenient, these fulfillment methods have only further exposed the problem of out-of-stocks.
Chargebacks are an unfortunate reality of a retail business and can be devastating to your bottom line. When you consider that over 84 percent of chargebacks are now due to fraud, developing a comprehensive strategy for managing them is critical for success.
Over the past few years, improvements in mobile devices, Wi-Fi, and cloud computing have made mobile point of sale (POS) solutions effective and affordable for businesses of all sizes. Tablets have emerged as the most popular platform for mobile POS solutions, and you may have already heard the buzz about them. There’s a reason for all the hullaballoo. In addition to integrating payments and making retail transactions more effcient than using a traditional electronic cash register (ECR), tablet POS solutions can provide robust management data.
Competition is growing fierce for restaurants — and not all of it comes from other local dining establishments. With grocery stores and meal kit services offering additional convenient and affordable dining options for customers to choose from, and with many restaurants turning to faster and smarter automation methods to power their operations, now is the time for your restaurant to step up its game.
Consumers worldwide continue to adopt and use technology in their shopping experience. Faced with rising customer expectations and increasing competitive pressures, retailers now are prioritizing in-store innovation. Many retailers have adopted multichannel implementations, in which mobile, web, and in-store shopping are enabled but not delivered consistently to the customer.
The potential of mobile technologies to transform the transaction experience has been discussed regularly over the past decade. The transformation first promised a decade ago always depended on significant advancements in both consumer and business transaction technologies. The consumerization of smartphones, which began in 2007, introduced what would become the key enabling technology on the consumer side. This marked the beginning of robust growth and continuous advancements in consumer mobile technologies.
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