TradeCard, Inc. and Sourcing Journal Online have published a new special report that explores the supply chain capabilities required to meet consumer expectations in an omni-channel retail environment. The report, “Cloud Sourcing for an Omni-Channel World,” explains that supply chain visibility across all sales channels, powered by smart deployment of cloud technologies, will be the key enabler for omni-channel retail success.
“Omni-channel fulfillment is all about getting the consumer the product they want, in the channel that they want, when they want it,” explains Tamara Saucier, VP of Market Development at TradeCard. “For retailers, delivering a consistent consumer experience across all channels is critical. To fulfill this promise, inventory knowledge across the supply chain has to be accurate, timely and actionable.”
Technology continues to empower consumers by allowing them to shop on their smart phones or tablets at home, while traveling, and even as they walk store aisles comparing products and prices in real-time. At the same time, smart technology is essential for retailers as they try to keep up with today’s consumers – both in-store and across the supply chain.
In recent months, as consumer spending has rebounded, omni-channel strategies have emerged as essential retail practices. The U.S. Commerce Department reported that U.S. retail sales increased 1.1 percent year-over-year in January and 4.6 percent in February. Online sales are a key driver of this growth. Forrester forecasts U.S. online retail sales will reach $262 billion this year, 13% higher than 2012. Online sales for apparel and accessories are expected to exceed $40 billion. Retailers are racing to deliver a consistent consumer experience online, in-store and via mobile apps.
The TradeCard report explains how cloud technologies can connect the entire supply network to enhance visibility, speed, efficiency, savings and agility – all essential to omni-channel retailing.
“Retail logistics needs to deliver the product, regardless of the point of purchase,” said Edward Hertzman, Publisher of Sourcing Journal. “As consumers expect greater selection, speed and service, managing raw materials, cutting fabric, promoting products, and shipping/warehousing goods become exponentially more complex. The extent to which retailers adapt and evolve their supply chain will determine who fails, who merely survives and who realizes the promise of omni-channel retailing.”
