The retail supply chain as it exists today across many verticals was built primarily for operational excellence and economic advantage, not agility. The inability of these supply chains to mount a rapid and effective response to changes in the business environment has been demonstrated in the catastrophic impact of COVID-19 on availability, inventories, service levels, and revenues.
According to research from retail analysts, RSR, the most successful retailers are recognizing how next-generation technologies such as digital twins, artificial intelligence and machine learning can be a competitive advantage. More than half of ‘retail winners’ identify high-value potential in every supply chain use case – from demand forecasting (80%) to last mile delivery optimization (67%).
With stark differences between the winners and their underperforming counterparts, the research findings are revealing.
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