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As digital commerce continues to grow and be an integral income source for retailers and consumer goods firms, the digital transformation of their supply chain is also crucial for these firms. They need the ability to prepare and adjust to evolving consumer needs quickly, use AI and machine learning to automate orders orchestration, fulfilment, and distribution, and finally, incorporate new fulfilment strategies such as buying online in-store pickup or curbside pick-up effortlessly. Client shopping preferences are increasingly evolving, but when purchasing online or in-store, shoppers continue to experience near-instant satisfaction.
As per a recent report conducted by Microsoft 69 % of retail companies were affected by supply chain disruptions and changing consumer demand triggered by the COVID-19 pandemic, and only 51 % of retail decision-makers believed their supply chains were allowed to address the rising needs of digital commerce. Improving end-to-end transparency of their supply chain and accessing real-time omnichannel inventory is among the ways to achieve mobility. Creating a digital twin supply chain is a building block to help companies achieve transparency all the way from the upstream producer to the downstream client.
In addition, retailers can drive demand for surplus stock items and speed up the replacement of out-of-stock goods in a cost-effective way with real-time insight into their stock.
Microsoft Dynamics 365 Supply Chain Management is used by businesses to be more flexible in adapting to evolving business needs. Companies intensified their rollout of Microsoft Dynamics 365 with their stores affected by shutdowns due to the pandemic to achieve end-to-end supply chain transparency and increase the availability of their important inventory.
They resolved shipping problems for worldwide clients and moved smoothly to using each retail store as a facility so that customers can purchase jewellery online and pick at their preferred store.
A big step-change is switching supply chain to Dynamics 365, and the really interesting part is the pace at which we are now responding to evolving business goals, whether they drive increased efficiencies in our warehouse, test new distribution models or uncover greater insight into consumer experiences. They are able to test new designs faster than ever before and mature them.
Using Dynamics 365 Supply Chain Management, companies can use the client’s first approach to help their warehouse management system, turn their supply chain, and directly link output, inventory, and delivery to in-store operations and client fulfilment. They also are able to extend their choice of satisfaction to their clients as a contactless option in Canada, like a curbside pickup.
In order to achieve a great client experience, Dynamics 365 Supply Chain Management helps businesses close the distance between demand and fulfilment. With in-memory microservice, businesses can easily re-plan the production and delivery of goods in near real-time within moments to efficiently respond to changing client demand.
To guarantee on-time delivery in a price-effective way, the smart distributed order management system can control, automate, and improve order fulfilment. It means that the inventory is located not only nearer to where the demand of the client is but also in the correct amount to minimize the time to delivery. This helps bring down the surplus stock.
Firms have introduced digital warehouses using real-time omnichannel inventory and along with their overnight store refuelling capabilities, they are able to find the correct items to the right market within a short turnaround time.
In addition, retailers build resilience into their supply network to achieve versatility and are more robust, as per the report. 45 % of distributors expect to expand the size of distribution systems, and 42 % of distributors plan to bring more distributors to ensure better flexibility in the future. This entails adding transport partners to eliminate bottlenecks in the procurement of goods.
Last-mile delivery is considered by 48 % of retailers as one of the top 5 most major elements of supply chain agility. Dynamics 365 Supply Chain Management provides retailers with a quick and advanced supplier certification process to maximize their procurement and fulfilment approach. It improves vendor communication across portals and simplifies the scheduling of inbound and outbound shipments to ensure consumer timely delivery.
They will boost durability and easily run with cloud and edge computing as retailers start on their path to the next standard, allowing quicker decision-making in a shortened time frame.
An organization with 500 franchise stores and 20,000 products, has been digitally migrated to the cloud in order to give its clients a true omnichannel shopping experience. It implemented Dynamics 365’s enterprise resource planning, customer relationship management, and business-to-business offerings to achieve full accountability about items on order, who delivers it, when this is shipped, or who has ordered it. It has helped them optimize distribution and open the way to extend their online presence, from clicking and collecting to clicking and distributing, while client engagement is at the forefront.
Time to deliver value is the principal justification for using the Dynamics 365 platform. Scalability and mobility are the two important factors for an organization. It’s just about being able to provide the client with a better experience.
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References – cloudblogs.microsoft.com