Omnichannel innovation isn’t merely a consumer challenge; it’s a business challenge – an obstacle that every organization, no matter the industry, must overcome.
Specifically, today’s businesses are faced with the unenviable task of collecting customer data generated across multiple channels, analyzing the insight, and using it to ensure the supply chain continues to deliver value.
But how many companies are truly capable of accessing this insight?
Data: The difference between supply chain leaders and laggards
SCM World recently developed an infographic – based on its latest research – that illustrates how many supply chain organizations are able to access valuable customer data, and some of the findings may surprise you.
According to the research, only 16% of those surveyed believe that data is easy to access. More alarming: Over one-third of responders say they possess no data at all.
But in today’s customer-centric world, the ability to capture insight regarding sales, delivery, and even returns is what separates supply chain leaders and laggards. Today’s top companies are able to access data by having “good” omnichannel processes and technology in place.
Furthermore, they’re able to widen the gap between themselves and the competition with additional investments in upgrading their existing processes and technology. Companies with “weak” processes and technology, on the other hand, are making no such effort; in fact, organizations with “weak” omnichannel sales processes and technology, for example, are 10 times less likely to have planned omnichannel sales investments.
3 tips to delight your omnichannel customers
The SCM World infographic concludes with several suggestions on how your organization can deliver a superior customer experience:
- Digitize your supply chain: Today, digitization is a business imperative. It can enable your organization to automate processes, increase reporting accuracy, and identify untapped sources of value generation. These improvements will lead to results you never could have imagined, and they’ll be critical in helping you strategize for the future.
- Make use of imperfect data: Imperfect data is different from bad data. Bad data should be eliminated; imperfect data can still be useful. Discern what’s bad data and imperfect data by setting specific parameters around the precision of your analytics.
- Create a menu of supply chain services: Conducting customer profitability analysis – also known as cost to serve or buy behavior analysis – will provide you with fresher, better, and more valuable data and help you become more customer-centric. With this data, you can then provide your business with a clear direction on what type of supply chain and distribution services you should be offering your customers.
Smart organizations today use agile processes and smart technologies to extract a wealth of customer insight from their supply chains. They’re using live data to improve all aspects of business performance and adapting to the unexpected to serve omnichannel customers better – leaving the laggards behind. Download the new SCM World white paper, “Customer-Centric Supply Chain,” to explore how you can replicate the best practices of omnichannel.