The return on investment (ROI) story behind internet of things (IoT) tracking in retail supply chains is compelling—especially for shipments with a high inventory value, cold chains, or when on-time delivery is critical. With specialized IoT sensors, retailers can keep tabs on location and other valuable information like temperature, humidity, and vibration. This real-time insight…Read more
Retailers looking to increase customer satisfaction while decreasing costs are turning to artificial intelligence (AI) to transform operations. Retailers use AI in the cloud to process large volumes of data to deliver online product recommendations or to optimize demand forecasting. With the advent of AI-optimized hardware and container-packaged analytics applications, retailers are now applying AI at…Read more
The business disruption caused by COVID-19 has resulted in four out of five retailers, 82 percent, changing their approach to how they manage their supply chains.1 Digital twin technology is one tool that retailers are adopting to address this issue. Digital twin technology enables retailers to model their supply chains as connected environments. Retailers can…Read more
In 2020 we saw retailers hard hit by the economic effects of the COVID-19 pandemic with dozens of retailers—Neiman Marcus, J.C. Penney, and Brooks Brothers to name a few— declaring bankruptcy. During the unprecedented chaos of lockdowns and social distancing, consumers accelerated their shift to online shopping. Retailers like Target and Best Buy saw online sales double while Amazon’s e–commerce sales grew 39 percent.1 Retailers navigated supply chain disruptions due to COVID-19, climate change events, trade tensions, and…Read more
