Omnichannel retailing is here to stay, and retailers not using it successfully are losing sales and profits to those that do. In devising an omnichannel strategy, the natural starting point is the point of purchase "” brick-and-mortar stores and/or e-commerce sites for online and mobile shopping. But customer expectations don't stop when the sale is made. Order fulfillment is every bit as important to winning repeat business. Now more than ever, a well-developed supply chain strategy is vital to retailers' success.
The Stifel Logistics Confidence Index continued its downward trend in May as it fell for the second consecutive month. Compiled by Transport Intelligence, the overall index, which combines the current situation with future expectations, was down 0.8 points from April to 50.7 in May and was 1.3 points lower compared with the same month in 2012. Yet, even with deteriorating confidence, the Logistics Confidence Index registered above the 50 threshold, indicating growth, for the fourth consecutive month. An index value of 50 indicates no change in the volumes currently being experienced for the time of year; above 50 indicates higher volumes, while below 50 indicates lower volumes.
Depending on which corporate silo you belong to, inventory can be a liability, an asset or something in between. How do supply chain professionals overcome these biases and implement optimal inventory management solutions?