Retail CIO Outlook Weekly Brief
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The modern retail industry is a marketplace that helps to streamline the transactions between manufacturers, producers, creators, shopping platforms, and consumers. To connect to the stakeholders, facilitating the exponential boom sector, efficient logistics and supply would be a key factor. According to a report by KMPG, there is an upward growth trajectory with logistics in the Indian e-commerce retail sector. The report also stated that with the rapid growth of e-retail in India, usual Logistics Service Providers (LSPs) try to stay relevant by providing e-retail focused logistics solutions, which resulted in the bifurcation of LSP into B2B and B2C industries. With expert data insights and experience by setting strong network, these LSPs have been rapidly extended to such extent that a quarter of market is occupied in real logistics. E-retail people will provide a different level of capabilities and services to attract their customers.
Features like automated tracking update enable retailers to make "their" choices which drive assurance and trust on the online logistics service providers. The process of doorstep delivery available on the online channel has an advantage of transparent dealings and regular updates for the clients. Clients can track and manage multiple orders globally and can get a real-time update on the progress of their shipment. Along with the customs’ clearance and documentation, information regarding the route of transportation, inclusive rates, and high standards makes the process transparent and reliable. Retailers are assured with regular shipments on time ensuring a smooth and positive service experience.
Startups are transforming the usual processes of intelligent, data-driven methods with the adoption of modern technologies. One such process is forecasting, which holds the data of past shipments like average delivery time, volume shipments, quality, and type of material that helps business retailers to gain information of customized costs and eliminate variability.
Consolidation of shipments from all over the country can be merged on the basis of destination which creates an organized logistics system. Consolidation can help reduce the shipment costs by bulk volume discounts and charges like customs’ fee and documentation charges that facilitate order management and timely delivery. Such effective logistics handling results in direct benefits, improved customer satisfaction, and reduction in storage and distribution costs.
Retail logistics is the process of having the online logistics reduce the burden of planning, supervision, management, and also control costs which adds to revenue growth through well planned and efficient functioning.
Check this out: Top Logistics Technology Companies in APAC
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