HOW TO OPTIMIZE YOUR SUPPLY CHAIN FOR FLEXIBILITY
The past few years have brought unprecedented supply chain disruptions that have profoundly affected manufacturers, retailers and consumers alike. As many companies seek to diversify their supply chains for greater resiliency, these efforts are not without their own risks. But one risk-free approach offers guaranteed results in any scenario: optimizing the last mile of your logistical supply chain for the ultimate in efficiency and agility.
An IRI report shares the four key steps to succeeding in this strategy to find and fix inventory problems and avoid shelf disruptions. Learn these essential approaches that can help keep your customers happy and grow your market share — no matter what supply chain disruption hits us next.
- Smarter tactical management of the end of your supply chain can find inventory problems and help you recover the 5 to 8% of sales that would otherwise be lost to out-of-stocks.
- Addressing on-shelf availability issues can help you grow sales by 3 to 5% every year.
- Nearly 50% of shoppers won’t end up purchasing your product if they don’t find it on shelf, so avoiding shelf disruptions is critical.
- Day-to-day supply chain excellence depends upon balancing ongoing inventory well, maximizing on-shelf availability, optimizing store operations by creating labor efficiencies and prioritizing high-opportunity shelf actions, and maximizing the effectiveness of promos, new product introductions and seasonal events.