The Internet of Things and blockchain can give retailers more insights into where their products are and how they can deliver them more efficiently to customers.
If retailers the world over want to compete with Amazon.com’s one-click ordering and next-day (or even same-day) shipping, they need to up their supply chain game.
This is not exactly news to retailers. However, retailers say that gaining visibility into their supply chains is actually more important than same-day delivery, according to a recent survey of retail logistics executives.
To gain that visibility, retailers are increasingly turning to the Internet of Things, as connected solutions offer retailers enhanced insights into where their products are, from production through distribution and delivery to stores. Blockchain is poised to become an important tool in verifying where products are along the supply chain.
“True visibility into each step of the supply chain is essential for peak operations, particularly in today’s uncertain global landscape,” Blake Shumate, COO of American Global Logistics writes in a Supply Chain Dive column, adding, “To remain competitive, businesses need the technology, processes and systems to identify where products are and redirect them quickly around the globe.”
Source: Retail Supply Chain Visibility Gets a Boost from Emerging Technology – BizTech