Retailers Turning to Control Tower Power to Advance Tech Capabilities

Supply chain control tower software is walking hand-in-hand with advanced retail technology trends delivering new inventory management capabilities and fresh profit potential to an industry pivoting quickly to keep up with consumer demands.

Apparel retailers, responding to the boom in e-commerce, have been rolling out technology capable of tracking each piece of inventory from shipping container to final sale, including a new generation of radio frequency identification (RFID) chips. Retail giants, including American Eagle Outfitters, Victoria’s Secret and Nordstrom Inc. all have announced beefed-up RFID strategies.

Now smaller and cheaper, RFID chips are helping retailers combine supply chains for store and online sales and closing information gaps. RFID also offers better insights into shopping habits, order fulfillment and locating merchandise.

To keep up with inventory tracking trends, supply chain control tower software provides a natural ally capable of helping the retail industry push into new frontiers for customer satisfaction and expectation.

Control Tower Compatibility

Supply chain control tower capability locks arms with retail technology in many ways, including by offering real-time visibility across the supply chain. The hallmark of control tower software matches RFID technology’s ability to track goods at every stage of the supply chain, from manufacturing to distribution, and the data can be fed into the control tower software. This can help businesses to identify bottlenecks and inefficiencies in the supply chain and take corrective actions quickly.

Retailers are increasingly using RFID technology to improve their omnichannel retailing capabilities. RFID tags can be used to track inventory across multiple channels, including brick-and-mortar stores, online marketplaces, and distribution centers. This can help retailers provide a seamless shopping experience to customers, regardless of the channel they use.

RFID technology also can automate the data capture process, which reduces the need for manual data entry and minimizes errors. This can lead to increased accuracy in inventory management, reduced labor costs, and improved efficiency. By analyzing the data captured by RFID technology and feeding it into the supply chain control tower software, businesses can gain insights into trends and patterns in the supply chain. This can help them to make better-informed decisions about inventory management, demand forecasting, and supply chain optimization.

Supply chain control tower software can improve collaboration between different stakeholders in the supply chain as well, such as suppliers, distributors, and retailers. RFID provides real-time data on inventory levels and shipment status, which can help to improve communication and collaboration between these stakeholders.

Retailers are using RFID technology to improve inventory accuracy, reduce out-of-stock situations, and prevent loss. RFID tags can be used to track inventory levels in real-time, which can help retailers to identify when a product is running low and reorder it before it runs out of stock.

Key to Closing Gaps

As RFID technology becomes increasingly important for the retail industry to improve operations and provide a better shopping experience to customers, retailers are still vexed by supply chain information gaps.

These gaps can lead to inefficiencies, delays, and higher costs. Closing these gaps requires a coordinated effort between all stakeholders in the supply chain.  

One of the main reasons for information gaps is the lack of data sharing between different stakeholders in the supply chain. To close these gaps, it is essential to establish clear communication channels and protocols for sharing information. This can include standardized formats for data exchange and the implementation of secure data sharing platforms.

This can include the integration of ERP (Enterprise Resource Planning), WMS (Warehouse Management Systems), and TMS (Transportation Management Systems) to provide a unified view of the supply chain.

Supply chain control tower solutions are vastly increasing the ability to close information gaps and harness the latest technological advances, including AI and ML and other tech trends supply chain operators are under pressure to keep up with and master.  

ketteQ helps customers not only evolve past manual processes to gain efficiencies, but also acts as a partner to help with systems upgrades and integrations, incorporating supply chain control tower capabilities into other advances that improve information flow and help with data sharing.

By improving data sharing, increasing visibility, enhancing collaboration, improving data quality, and integrating systems, supply chain stakeholders can work together to close these gaps and achieve better results.

Trends Ahead

Through the rest of 2023, logistics businesses will be looking for ways to improve visibility.

Faster delivery rates, shipping to distant destinations, quick access to containers and movement of larger more complex freight are some of the current challenges that must be addressed, according to a recent report from Supply & Demand Chain Executive a watchdog industry publication. In this fiercely competitive market, the report notes, effective logistics technology is critical for businesses to succeed and gain customer satisfaction.  

That means organizations must make investments in technology that simplify operations and enable quick resolution of challenging issues.

If your company is seeking a trusted partner to improve supply chain visibility, ketteQ offers transformative solutions that are changing the course for customers worldwide. Reach out today and let us show you how we can help.

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