As if the pandemic, ongoing strike action and economic crisis was not enough to worry businesses ahead of the peak holiday retail season, the latest dip in consumer spending has heightened pressures for supply chains and now it is fight or flight.
In the current era of uncertainty, with ever increasing supply disruptions amid shifting buying patterns, organisations cannot simply rely on traditional models of buying and selling – they must become more agile to beat the disruption and avoid lasting impacts.
By utilising cloud and digital twin technology, organisations are bolstered with the tools for real-time quality decision making allowing better interoperability between different business units, dissolving data silos and cutting down on decision lags whilst effectively managing the squeeze on tight margins. Businesses can now also get to a post-code level forecasting and understanding what the trends are at the hyperlocal level. This effectively renders over-ordering as redundant, so brands no longer need to compromise on cost when getting rid of surplus stock.