Disrupt Yourself – Or Someone Else Will is the new mantra that every business leader must adopt. Entrepreneurs need to figure out how to keep evolving and innovating business processes quickly before their competitors. The pendulum of progress is always moving, slow or fast, just like the market trends and pressing customer expectations.
Consumer expectations are changing from acquiring goods to accumulating experiences. Therefore, customer experience has emerged as the new competitive battle ground. However, a part of CX is the product experience related to supply chain.
The demand is certain, you need to transform your supply chain that is aligned with people, processes and technology within your organization to deliver the outcomes your customers desire.
The hyper-connected retail customers demand shopping experience that is engineered by speed and convenience at the core. Delivering an excellent product is not enough anymore. Customers want personalized and everlasting interactions helped by dynamic processes. That’s why CX is one of the leading factors spurring the supply chain innovation.
How Supply Chain is Considered a Cornerstone for Customer Experience?
Driving superior CX is the need of the hour. Supply chain needs to be precise and nimble to deliver a unified customer engagement through personalized offers and optimum levels of inventory.
A customer-centric supply chain practices bring operational transparency across all partners. This helps in building seamless and dynamic brand experience and provide value-added services to their customers.
Businesses Can Deliver Better CX Through Supply Chain By:
- Aligning the Process: Integrate all the customer related functions with the core company strategy to fulfill customer needs. Having transparency with your suppliers can also increase efficiency and responsiveness.
- Enhancing Visibility: Organizations need to integrate and connect different departments to increase visibility of real-time supply and demand across various channels. Moreover, it helps in managing inventory levels while reducing the time of planning cycles. Especially using real-time customer data can help in demand forecasting to be a better and reliable service provider.
- Introducing Flexibility and Agility: Integrated supply chain operations help organizations to identify process bottlenecks, increase floor visibility and manage operations with agility. This in turn helps organizations to shift their focus from creating mass production to mass customization.
- Delivering On time: The delivery phase is very crucial in supply chain management. It can either make or break the customer experience. For example, real-time vehicle tracking can optimize delivery routes based on traffic conditions that helps in optimized delivery of goods to the customers. Thus, improving the overall productivity and customer satisfaction.
- Personalizing customer needs: Supply chain management helps in providing personalized service based on the customer’s purchase history. It also helps in catering lean inventory and creating discount strategy to build superior customer experience.
Embracing the right technology to implement these strategies enable businesses to make better decisions related to customer satisfaction.
Key Technologies That Help Modernize Supply Chain for Better CX
Technology is a key enabler of driving supply chain modernization to provide better customer experience.
Overhauling operations without using relevant technologies won’t improve the overall service levels. For a large consumer-goods company, it is important to use leading-edge technologies to support operations which can rapidly improve customer experience.
For example: Internet of Things (IoT) helps in gathering data from the integrated operations right from manufacturing, transportation, warehouse operations, inventory levels and suppliers to customers and even insights of after sales services.
Furthermore, this collected data can be mined and converted into valuable insights through Advanced Analytics. Data Analytics powered by AI often helps in predicting issues, understanding customers’ buying patterns, monitoring asset health, and responding proactively to better serve the customers’ needs. While Machine Learning helps detecting fraud in the overall process.
Another breakthrough and the much talked-about technology – Blockchain, plays a significant role in supply chain management process. It helps in creating a secure ledger to enable tamperproof and secure transactions among stakeholders.
In addition, Cloud technology enables seamless collaboration and integration of data recorded of partners, customers and organizations ensuring transparency and trust across all domains economically.
Using these smart technologies, enterprises can overcome the challenges of a volatile and complex market trends and deliver better customer experience.