There is also good reason for it – the online retail sales have grown at a much faster rate than conventional retail (see below the data from US Census Bureau).
New research from RSR shows that almost three quarters of retailers now have an online channel, while a full fourth of them operate at least four sales channels in addition to their stores.
While the world of multi-channel retailing is new, their top challenges are not. In fact, the top two challenges quoted by more than half the retailers essentially remain deficient supply chain capabilities followed by merchandising, customer concerns, and inventory optimization:
- Real-time inventory visibility/ management (#1, more than 58% retailers)
- Managing fulfillment across channels (#2, more than 56% retailers)
- Optimizing inventory deployment to speed delivery and minimize holding costs (#5, more than 35% retailers)
- Multi-channel Retailing- Are You Up To the Challenge?
- Replenishment Policies and Inventory Planning
- Can Your Supply Chain do That?
Want to know more about supply chain processes? How they work and what they afford? Check out my books on Supply Chain Management at Amazon.