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Featured Insight:
How to Manage Demand Volatility with Supply Chain Data
Consumer behavior plays a significant role in supply chain management. Understanding how your consumers are interacting with your products, the root causes of sudden surges in demand, and your product lifecycles is paramount to making the right decisions regarding replenishment rates.
How Supply Chain Data Platforms Unlock Improved Management Strategies
The logistics of managing a supply chain can be overwhelming. You likely have a large amount of data to sift through, and there are constant challenges, including supply chain disruptions, recalls, and needing to maintain relationships with many different retailers. With a data platform that puts all of your data in one place and shows you everything you need to see at a glance, you can ensure that you are making the right decisions.
How Do Retailers & Manufacturers Work Together To Improve Supply Chain Management
Share Retail POS Data with Suppliers
If you own a retail brand, you should work with your suppliers and manufacturers to ensure they have access to accurate and close-to-real-time inventory data from your locations. Sharing this data can help increase their visibility and awareness of when items are low and need to be replenished.
Share Reporting & Supply Chain Insights
Going a step further, if retailers and manufacturers share a unified platform that allows both teams to see similar reports, they can speak the same language. When both groups are seeing the same data, it is much easier to communicate your goals and needs so that items are replenished and both stockouts and overstocks are prevented. Our supply chain data platform provides reporting that can be customized and shared between businesses so that everyone can more accurately communicate.
Use AI-Driven Technology To Get Insights Quicker
Supply chain management requires quick action. One of the common issues with trying to use sales data and inventory data to make decisions is the time commitment. Ideally, you need a platform that puts all of your data in one ecosystem and to easily be able to organize that data so you can get a clear and accurate picture of your supply chain. Our platform goes a step further and provides AI-driven tools that use your data to answer your questions and provide visualizations of data by either using our industry-tested presets or by creating custom reports for the data trends that matter most to you.
Featured Solution
Circana’s Supply Chain Solutions
Elevate Your Supply Chain Management With A Flexible Supply Chain Platform
Our supply chain solutions give you the ability to monitor, measure, and react quickly. With our tools, you can use retailer data to track inventory across retailers. You are empowered to make data-backed decisions that can help improve your relationship with your retailers by replenishing items based on their consumers’ shopping behavior.
How Can Consumer Data Improve Your Supply Chain Management?
Understand What Is Needed Across Channels
You likely supply more than just simple brick-and-mortar stores. Most manufacturers are working with e-commerce, chains, and traditional stores. Different sales channels require very different strategies when it comes to fulfilment and replenishment. When you partner with a data platform that has experience working across those channels, it can ensure that reporting and insights are tailored to those channels, especially if you work with retailers that are working with both in-person and online shopping.
Track On-Shelf Performance
Retailer data can give you visibility into how your products are actually performing, as well as the driving factors that might be causing overstocks or outstocks. On-shelf performance platforms can provide deeper visibility and insights into what is working and what isn’t working. These insights can help identify distribution voids and lead to overall category and brand growth.
Predict Changes in Demand
Some changes in consumer behavior are somewhat predictable. If you sell items that tend to have higher demand during the holiday season, you can routinely prepare your supply chain for that shift. But consumer trends and shopping behavior are sometimes a blind spot in supply chain management. Having access to robust consumer data and trends at a glance can help you predict shifts in demand that can impact your supply chain.
