Top 3 Supply Chain Trends to Watch in 2017
The Supply chain industry is one of the most dynamic commercial sectors. The industry thrives on the flow and transformation of goods from raw materials to end-user products. Heavy reliance on technological innovations means that there are changes in the sector almost on a daily basis. It is, therefore, necessary for the main players in the industry to keep tab of the latest developments so as to remain competitive and identify fresh business opportunities. Below are some of the trends to watch closely this year.
The ever rising popularity of e-commerce
Online shopping has over the recent past confounded skeptics and fans alike with its phenomenal growth. With large e-commerce businesses such as Amazon reporting sustained profitability, the trend is unlikely to slow down this year, or anytime soon. Supply chain professionals need to create more capacity to respond to the increasing need for timely deliveries of goods purchased online.
Importance of efficiency and customer satisfaction
As more players join the supply chain and logistics industry, higher customer acquisition, and retention rate boil down to the provider who exceeds clients’ expectations. Industry disruptors have capitalized on excellent customer service to turn the taxi business around the world on its head.
The edge in technological innovation
Advent of drone deliveries, though slow to take off, has undoubtedly marked a significant technological milestone in the supply chain industry. Amazon has taken the lead in making this futuristic venture a reality. As expected, more retailers are joining the bandwagon with 7-Eleven even beating Amazon at making the first regular commercial drone delivery in 2016. It is important for traditional players in the industry to understand how this development will affect their business and adjust accordingly.