It is commonly known that forecasting sales is complex and that retailers, wholesalers, and brands have struggled with achieving accuracy since the beginning. Consumer buying behavior is non-scientific. Despite algorithmic and statistical advances in recent years, as well as progress in data science and artificial intelligence (AI), high degrees of accuracy are not always achieved.Read more
The rapid growth of technology and the number of innovative service providers is advancing the variety of options available for retailers and direct-to-consumer brands to deliver products ordered online to customers. As a result, shippers must constantly evaluate their last-mile delivery options to ensure they are providing the best possible service using the most cost-effective process. There are several strategic questions that should be considered before evaluating the different options shippers have for products that end up on a consumer’s doorstep.Read more
In April 2018, the Bureau of Labor Statistics projected a 7 percent increase in jobs from 2016 to 2026 in the area of logistics. Other forecasts have estimated this rate of growth to be as high as 26 percent.
Is there really a talent gap or is there a management gap in developing resources to meet the needs? With the supply chain taking on more and more of a leadership role in driving strategy, the time is now to capture the excitement of the best talent and help them understand that they can make a real difference in a business.Read more
Today, the rise in e-commerce is affecting businesses across all markets and ushering in an era of rapid service delivery. One of the industries that is extensively influenced by the surge in e-commerce is healthcare. Consequently, with the healthcare industry spending billions on e-commerce and web services annually, smart sellers of healthcare products that provide digitally oriented purchasing experiences are performing better than the ones that do not. Therefore, in order to keep up with the growing influence of e-commerce, healthcare product companies are looking for an answer to their supply chain-related challenges. Delivering a solution that resolves the security, time-sensitivity, and compliance tracking in a healthcare product business’ supply chain, MonarchFx, a North Carolina-based logistics company, is assisting organizations to reinvent typical healthcare product purchasing.“MonarchFx ecosystem integrates the offline, online, and logistics data across a single unified supply chain to assist healthcare companies to fulfill their organization-specific needs to safely and securely deliver in two days or less” says Benjamin Patipa, MD, Vice President of healthcare strategy at MonarchFx.Read more
Travis’ Instagram post turned Brian splenetic.
While Brian was happy that his brother was at the World Professional Football Championship watching his favorite team, Brian wasn’t happy with the gear Travis wore – the same throwback Los Angeles jersey that Brian bought Travis from Football Fanatics Emporium, the one sitting in the box at Travis’ neighbor’s house in San Francisco because it had arrived a day later than the Los Angeles retailer’s website pledged – hitting Travis’ door when Travis was waiting for his flight at the San Francisco International Airport.
Thus starts the tale of how Football Fanatics Emporium ...Read more
The best way forward for Consumer Packaged Goods (CPG) is to start building direct relationships with end consumers, evolving their current business-to-business (B2B) mindset and developing a sales model much closer to that of their DTC competitors.Read more
There is a famous story you are no doubt familiar with about a menacing giant who was so ferocious that even the bravest of warriors did not dare to challenge him. Trained from birth as a warrior and ever so confident in his abilities, he challenged the warriors of Israel to one-on-one combat, winner takes all.Read more
Liliana wanted gluten-free rigatoni, organic pasta sauce and free-range meatballs for her Saturday shindig.
On Thursday, she logged onto the Mama Eleonora All-Natural Pasta Conglomerate online fulfillment center, which – without access to a distributed logistics network – offered delivery by Monday. Or overnight for an additional $25.
Supply chain is the difference between the planned margin for your product or business and the margin you achieve. Your supply chain will either help you maintain your margin, exceed your margin expectations, or it will erode your margin. At its core, supply chain is still the movement of goods; however, in today’s global unichannel marketplace every business support function plays a role in making sure your planned margin is achievable.Read more
Those who consider price only or as main factor in their logistics selection process are doomed to mediocrity and perhaps even failure.Read more
Tompkins International has been disrupting traditional supply chain thinking for over three decades. In a recent white paper, Achieving Revenue Gains from Distributed Logistics, we again extend the thinking of the role of supply chain and the business impact on supply chain. In addition to the white paper, we wanted to discuss several other key elements that have made a major impact on the supply chain.Read more
The retail sector has experienced unprecedented brick and mortar consolidation over the past several years. We are living in a time where retailers are trying to recraft their go to market strategy and redefine the competitive balance between bricks and clicks. Many have finally come to the conclusion that these channels play off of each other and must be a part of the go forward strategy to provide the product access and service response the customer requires.Read more
As businesses look to free up working capital to respond to the current market conditions, inventory planning is often a target. With inventory being the largest capital outlay for any business, making a nominal change in strategy has implications on a large sum of dollars. These freed funds can be used to expand operations, take on strategic initiatives, and position the company for a stronger tomorrow.Read more
Ever since its inception, supply chain management has largely been focused on cost and expense management, seeking methods to reduce the costs of logistics, transportation, warehousing, distribution, procurement, manufacturing, and all the other business processes that make up supply chains. Further, in recent years the costs associated with inventories (including working capital), fixed capital (facilities), and supply chain technologies have been measured and targeted for reductions. Since these processes and supporting investments were established as necessary functions of the enterprise, their operations were viewed as important for cost management.Read more
New technology being introduced into the market to automate historically manual tasks, brings back our sense of fear. Do we want people to complete menial/labor intensive tasks or do we want to create competent/reliable machines to complete these tasks?
These feelings of uncertainty are not new. In the 19th and 20th centuries there were also these concerns. The introduction of the car, electricity, and the telephone caused a lot of uproar.Read more
The MonarchFx management team recently reviewed a paper by McKinsey & Company titled Should CPG manufacturers go direct to consumer – and, if so, how?. As usual, the paper is thought-provoking, as well as providing meaningful executive advice.Read more
We recently held a very successful two-day open house at the Tompkins International Emerging Technology Center (ETC) in Orlando. Over 120 interested representatives from retailers, brands, and others were provided a two-hour discussion (the “context”) by our CEO, Jim Tompkins.Read more
Amazon is one of the most written about companies of the modern era. There are daily reports of astounding accomplishments and news of their plans moving forward. Why write more about the number one online retailer in the U.S.? Because they are leading the pack by a wide margin, with respect to the U.S. online retail world.Read more