The Friday Report: November 2nd, 2018Quick wrap up of a few hot topic newsworthy stories in the supply chain logistics industry
Focus on Providing Optimal Customer Experience Produces Rewards for Shippers
According to Logistics Viewpoints, 50 percent of Millennials have demonstrated a preference for deliveries in less than two days. This requires logistics and delivery services that shippers are finding challenging to provide.
For consumers, the last mile delivery experience is memorable, and often forms the basis for their perception of the retailer. Not only do consumers expect fast shipping but also damage-free goods, order and shipment tracking and a positive customer experience throughout the entire order fulfillment process.
Today, shippers are focused on determining a scalable shipping model that enables them to expand their geographic range. This can involve expansion or utilization of more fulfillment centers, internal to the organization or provided by third party logistics providers. Shippers are also expanding their use and selection of carriers to include local, regional and specialized transportation and logistics providers such as express carriers or specialists in last mile delivery.
Overall, shippers that focus on providing the optimal customer experience are reaping rewards in terms of customer loyalty.
How the Super-Intelligent Supply Chain
The advancement in the use of Internet of Things (IoT) devices with sophisticated computer technology, data analytics, machine learning and artificial intelligence is uniting to provide new insight into product life cycle, manufacturing and supply chain management. Using these innovative technologies is producing value for companies as to asset utilization and deployment in addition to helping to move operations closer to the factory of the future.
According to a survey of 700 executives by Forbes, enterprises report that they are embracing IoT to enhance supply chain operational capabilities, manufacturing operations, warehousing and logistics. In addition, companies reported united linking IoT to analytical and cognitive applications for added insight.
“Fingerprinting” Products in the Supply Chain
The popularity of forensic science is no longer limited to crime investigations and tv dramas. Today forensic science can assign a product a unique geo-chemical fingerprint to provide full traceability of the product back to its origin.
Scoffing in disbelief? Apparently every agricultural product absorbs some of the environment in which it is grown. This includes small traces of chemical elements determined by soil type, terrain and rainfall. Companies such as Oritain provide the means to test and trace products such as textiles, pharmaceuticals, food and beverage and even luxury goods.
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