Retail in the Modern Age: Supply Chain Strategies for Adapting

Written by Bryan Ransford
2 minute read

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Retailers around the world have seen their supply chains face many disruptions over the years; global pandemics, recessions, trade disputes, regional conflicts, dramatic demand shifts, natural disasters, and significant congestion. Throughout the events the world faces, the supply chain has reacted accordingly. When businesses face challenges and mass crises, there are focus elements that can help retailers optimize their network, find success in the midst of obstacles, and strengthen the structure of their company.

As retailers look to navigate the next disruption, there are some common elements or areas of focus that are the foundations for a stronger and more reliable supply chain:

  • Visibility
  • Control
  • Agility
  • Resilience

Visibility goes beyond the shipment to orders and items to improve the decision-making process when disruption occurs and enabling businesses to adjust accordingly. Control of supply chain nodes and partners allows faster identification of anomalies or irregularities and lets shippers take corrective actions to manage risk and performance. Agility improves the speed at which the supply network can respond to shifts in the environment. Having alternative modes of transportation or routings ensures optimal product placement. Resilience intertwines network design, upstream planning, and technological resources to strategize structure enhancements and avoid disruptions, or at least respond effectively, on a long-term basis.

Cost and sustainability are two of the most important factors in the world of modern retail and underpin these focus elements, as well. Consumers want to get the most affordable price for a high quality, low carbon impact product.

Understanding the aspects of these individual elements and being able to integrate some or all creates a dynamic and flexible delivery process and enables more efficient operations.

In the coming weeks, we will provide greater detail around each of these focus elements with the hope you will discover more ways to improve your supply chain and how Expeditors can help to develop solutions critical to your retail success.

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Blog was originally posted on February 23, 2023 7 AM

Topics: Retail

Bryan Ransford

Written by Bryan Ransford

2 minute read