Market Disruptions Provide Challenges, Opportunities To Grow

As technology continues to give customers more control over their buying experience, their expectations are growing at a rapid pace. This evolution has taken place in a shockingly short amount of time, and the logistics industry needs to implement new ways of doing business in order to serve the modern consumer.

Businesses now have a higher degree of control over e-commerce, and those that successfully harness this can find themselves with a big advantage over their competitors.

A lot of brick-and-mortar stores are essentially transforming into miniature fulfillment centers. What was once considered extraordinary is now becoming essential for firms that want to keep up: connecting online storefronts with physical ones and warehouse and distribution centers.

B2B customers are now buying directly from manufacturers more than ever before. They are demanding seamless interaction through several platforms, which is disrupting the market in significant ways.

B2B and B2C transactions once called for slightly different procedures, but now the flexible, personalized and on-demand nature of B2C is also driving B2B expectations.

Look At Operations From Every Angle

One way that companies can improve their supply chain operations is by taking a look at the entire process from the customer’s point of view. For example, consider how much they are paying for their products to be shipped and how long it takes for them to receive them after placing the order. If there is a way you can get them their products just as fast for a lower price or even faster for the same price, those are changes you should make right away. Balancing tradeoffs between service and cost has never been more important than it is right now.

Auditing supply chain methods as well as customer engagement is something you should be doing every year, and it’s important to take a critical look at the big picture as well as the individual parts if you want to make tangible improvements.

This blog post was based off an article from UPS. View the original here.