Press Retail
September 07th, 2022

Supply Chain Changes for Retailers: Transport Topics Interview

Change is a constant for the supply chain which is why it is important to continue to have new and engaging conversations around disruptions and e-commerce solutions. Verte CPO and co-founder Padhu Raman had the pleasure of speaking on Sirius XM’s show Transport Topics, the nation’s logistics, and tracking new leaders. Dan Ronan, host and Managing Producer at Transport Topics spoke with Padhu about the current supply chain climate, customer expectations, and the best supply chain technology to mitigate oversupply and gain visibility into business operations. 

Listen to the full recording! Part 1:

Part 2:

Below, we have outlined the main takeaways.

How Does Oversupply Happen and How To Curb It?

One question Dan posited was,” how did retailers and brands end up with such an oversupply of products since COVID-19?.” Padhu explained that most organizations do not possess one single, seamless source of truth in their supply chain, leading to overstock and excess inventory. Padhu went on to elaborate that companies would benefit from a unified commerce platform. This is especially true for retailers who require better inventory management since this kind of supply chain technology can react to disruption in an easy way and provides all partners with visibility. This transparency allows all existing partners to be dynamic with their supply chain’s data, and pivot easily based on scenarios, mitigating issues down the line. 

How Can You Ensure Happy Customers?

With the continuing shifts happening in the supply chain industry, retailers and brands need to be flexible. Adaptability must be adopted throughout the entire supply chain ecosystem.  Organizations need to look for technology that is connective and automatically makes predictive decisions to meet customer expectations. 

This flexibility extends to how organizations get their products to customers—this requires better cost optimization. Padhu noted that today’s consumers want choices in how they shop; they prefer more convenience and personalization, which means that brands and retailers need to adapt to those growing expectations. Adding sales channels and delivery options are two pieces of this puzzle, in addition to dark stores. Dark stores operate as a supplementary way that customers can collect their e-commerce orders, allowing brands and retailers to maximize excess inventory and make a profit while offering an additional way for consumers to shop.

How Can Supply Chain Partners Better Operations?

Padhu advises having good access to data to inform better business and financial decisions moving forward. This includes investing in software that converts unstructured data into structured analytics. Padhu also recommends investing in better orchestration of customer orders, including better sourcing and connectivity throughout the supply chain. He also mentions the importance of having inventory near to customers, especially since many people and popular demographics are moving around the country. Your California customer base may be moving to Texas, for example. All of this information can be solved with a unified commerce platform that gives transparency into your operations and the delivery journey of your products. 

What’s Next in the Supply Chain Landscape?

New technology that increases visibility is Padhu’s prediction. The only way to combat supply chain disruption is with more seamless communication among partners, from manufacturers to shippers. Investing in software that helps with that communication is the only way forward to building a healthier supply chain. This requires integrations, regardless of the technology retailers or brands use. 

Final Thoughts

Today's retailers and brands need to prepare for the future and changing demographics. From consumer demands to business constraints, supply chain technology must address everything from inventory management, transportation and delivery, and most importantly, the customer experience. Success is derived from the willingness of supply chain businesses to be adaptable, flexible, and have the technology to increase the speed from order receipt to delivery. Real-time data and workflows that allow retailers and their partners to communicate via dynamic integrations are a requirement for meeting increased order volume—whether it is peak season, a holiday, or just a highly sought-after product. There is no way around the fact that the supply chain is changing. Will your business change with it?

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Flora Collins

Written by Flora Collins

Flora Collins is a prize-winning writer and published author. As content manager, she is responsible for the development and creation of content for Verte blogs, case studies, ebooks, social media, and more. Flora aligns her strong communication and organizational skills to help deliver meaningful content and thought leadership to Verte prospects and customers.