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5 Notable Trends Driving Global Retail POS Terminals Market Forecast

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Archives, Banking, Global Trade Daily, Special Reports

5 Notable Trends Driving Global Retail POS Terminals Market Forecast

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Consumer preference is shifting towards electronic payment systems. A growing emphasis of governments across the globe towards a cashless economy will primarily drive the retail POS terminal market expansion in the forthcoming years.

Reportedly, the global non-cash transactions increased about 14% between 2018 and 2019 to reach 708.5 billion transactions. In which the volume of cashless transactions in the Asia Pacific accounted for 243.6 billion in 2019. A surging number of non-cash transactions globally will complement the high adoption of POS terminals across retail shops.

According to a Global Market Insights, Inc., analysis report, global retail POS terminals market size is estimated to surpass US$45 billion by 2026. Below mentioned are some key aspects of a cashless payment system driving its demand among customers.


Growing preference for electronic payment cards

High usage of alternative forms of physical currency such as electronic payment cards, which includes ATM, debit, and credit cards would positively influence movements of cashless economy in the Asia Pacific and Europe region. Cash-based transactions have certain disadvantages and inconveniences, mainly in terms of security, irregularity in counting, and others.

On the other hand, retail POS terminals render advantages such as swift purchase transaction, consistent pricing, high reliability & durability, and others, as compared with other traditional payment systems. On account of such benefits, POS terminals have been increasingly deployed across small and medium-sized retail stores.

mPOS terminals in out-of-store transaction

The mPOS terminal segment is expected to witness considerable growth in the upcoming years, due to its mobility and ability to provide secure transactions in out-of-store environment. The product is widely utilized in local retail shops, flea markets, events, and tradeshows to easily process a large amount of sales transactions and reduce transactional time.

The escalating security concerns pertaining to data privacy due to the rising incidences of cyberattacks will impede the retail POS terminals industry growth to some extent. Also, the high cost of deploying these systems on a large scale could slow down its adoption rate in retail shops.

Software applications in POS terminals

The software segment in the retail POS terminals industry is projected to grow significantly by 2026. The software used in POS terminals stores transactional records of consumers which further helps in monitoring their buying behavior and shopping trends.

These features further aid retailers in enhancing customer experience and escalate sales. Additionally, the integration of sophisticated technologies including the Internet of Things and advanced security software protects the crucial data of consumers.

Robust demand in supermarkets

The hypermarkets and supermarkets segment will expand exponentially in the forthcoming years owing to the presence of a well-organized retail sector across the globe. The introduction of customized POS terminals provide real-time dashboard options and detailed users’ profile. It helps in classifying their preferences and brings more value to the customers. These features also enable large-scale retailers to organize their workflow and propel sales and profits.

Growing cashless economies across APAC

The Asia Pacific retail POS terminals industry is expected to experience substantial growth trends owing to the evolving retail sector in countries like India and China. The recent economic reforms in India such as demonetization have tremendously boosted consumer preference towards cashless transactions. The regional manufacturers are emphasizing on introducing QR code-enabled devices to accept payment through other cashless mediums, which will eventually complement the regional industry landscape in the upcoming years.

PAX Technology, NCR Corporation, NEC Corporation, Ingenico SA, and VeriFone Systems, are the prominent companies functioning in the global retail POS terminals industry. The industry expansion is majorly attributed to the growing demand for technologically advanced systems offering features like gathering customer information, payroll data, and inventory management.

The integration of highly secured software and other advanced technologies in retail POS terminals and the government support to encourage the utilization of electronic payment systems will positively impact the industry growth.

cybersecurity
Archives, Global Logistics, Global Trade Daily, Software

E-COMMERCE VS. MANUFACTURING CYBERSECURITY: WHAT YOU SHOULD KNOW

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In the digital world, most of us are constantly immersed in protecting data while ensuring smooth operations that have become increasingly complex in recent years, particularly in the age of COVID-19 for manufacturers and e-commerce leaders. With concerns of maximizing cybersecurity compliance increasing almost as quickly as consumer demand, we decided to take a deeper look at how data protection ties into e-commerce and manufacturing and what companies can do to remain competitive, compliant and trustworthy in the eyes of their customers. 

To gain a better understanding, we looked to Bindu Sundaresan, director at AT&T Cybersecurity Consulting. With the firm for the past 12 years, Sundaresan and her organization offer planning and professional services to help customers in retail, healthcare, manufacturing, finance and more reduce cyber risks.


 

“You name the emerging technology irrespective of customer security maturity, we are there,” Sundaresan says. “We are starting to see some implications of rushed transformation efforts, putting companies at larger risk. They have to take stock of their altered risk profile as the threat surface grows and with the adoption of digital technologies in pursuit of new business models and enhanced customer experiences such as e-commerce in manufacturing.”

She adds that in the modern age, e-commerce is no longer just in sight for retailers or e-tailers. In fact, e-commerce has transformed the way major industries are conducting business from manufacturing, B2B and even shippers. 

“It’s a whole function, end-to-end in terms of when the ordering is placed to checking on what stocks are available, to shipping,” Sundaresan says. “This is all happening through front-end e-commerce websites. E-commerce in general is an attractive target for the malicious actor, because that’s where the money is.”

Data protection in the digital space requires a strategic and tedious process–two words some would never think to put in the same sentence when talking technology. For businesses to successfully secure consumer data, company data and overall cybersecurity, all moving parts must be considered, starting with the basics. Sundaresan emphasizes that just because digital applications have been simplified, it does not ensure a successful launch of data-secured applications.

“Follow the data, think about every connection, think about the data flow, think about every connection you are making for every asset within your organization. Web application security must be taken seriously. Application Security 101 is how you should secure your third-party and open-source code because approximately 96 percent of apps today use borrowed code. Sure, it is a great way of standing an application up, making it run fast, and saving development time and resources. But at the same time, it will introduce vulnerabilities into your infrastructure.” 

From its inception, web applications present competitive advantages—and significant vulnerabilities if not properly deployed. One must carefully consider the limitations and vulnerabilities of the selected tools over protected information to effectively secure and operate it. 

“It’s not just about fraud protection or credit card data behind these applications,” Sundaresan notes. “It is about the denial-of-service attacks that can happen, making your website unavailable. It is not somebody stealing, it is somebody getting availability. It is about using your website and your brand to craft another webpage that looks exactly like your brand, and then do SQL injection on it. E-commerce websites now have sophisticated tools with shielding applications and technologies available. These are all affordable and easily consumable, eliminating the need to go in and actually change the code.”

Whether we realize it or not, almost all of us are using some type of e-commerce platform, IoT device or another form of digital technology enabling connectivity between us and the outside world of products and goods.

“Everyone cares about privacy, and this is a common thread across industry verticals,” Sundaresan explains. “We all use internally built applications, APIs and take payment information. Anyone that takes credit card information needs to comply with the PCI standard. It covers a lot of web applications and e-commerce security controls that are a must. Compliance is not the end goal, but it’s a great starting point for your framework.”

Looking at manufacturing, we see a different story unfold. Data protection measures are approached from a different angle that does not consider coverage for sensitive consumer payment information or personal identification. After all, many manufacturers are not dealing directly with the consumer but still have a need for securing digital transformation in the sector.

“As a manufacturer, you have to think about what the attack surface looks like and what the protection surface looks like,” Sundaresan warns. “It is critical for manufacturers to think of each new connection as a potential vulnerability to their attack surface. Gone are the days where manufacturers are going to look at just safety and well-being as the only priorities–security is now top of mind, and it should be.” 

Along with basically every other industry sector across the globe, COVID-19 impacted and changed manufacturing. Sundaresan highlights the changes sparked by the pandemic and how manufacturers are now prioritizing data security. 

“COVID propelled smart manufacturing, showing us that security is more about risk and resilience rather than just providing a technological element to operations. We have enough tools out there, and it’s time to initiate the joining of forces and look at how data can be exploited because of unpatched systems in manufacturing.” 

Over the past 12 years, Sundaresan and her team at AT&T Cybersecurity Consulting have learned the adage, “you’re only as strong as your weakest link” was more than relevant during the pandemic for the supply chain, challenging the notion that just because a company is not focused on B2C operations does not eliminate risk for data breaches and threatened security.

“In the 20 years I have been working in the industry, there is not one thing that we don’t do at AT&T Cybersecurity. Some assume we might only do large projects or cater to those if they are connected to our network. That is not the case. In relation to the industry as a whole, an important takeaway is to remember that what manufacturing and healthcare are going through now, retail and finance went through this same thing about two, three years ago.” 

To learn more about AT&T Cybersecurity and its diverse solutions portfolio, visit: https://cybersecurity.att.com/

____________________________________________________________________

Bindu’s experience, which spans more than 20 years, has been shaped by the opportunity to work with some of the world’s most innovative companies. She has worked with industry frameworks, including NIST/ISO/HITRUST, regulatory requirements including PCI, NERC, and HIPAA. Bindu has led dozens of cyber-risk engagements for Fortune 500 clients from strategy to technology implementation to breach response. She was tapped to lead a complex PCI and HIPAA compliance assessment for a leading global retailer, spearheaded a $1M security assessment, and worked on securing Criminal Justice Information Sharing Networks in NYC. Before AT&T, Bindu was a Senior Manager with Verisign. Before joining Verisign, she was a Senior Consultant with KPMG and a Senior Network engineer. Her love for teaching and mentoring started with her role as an Adjunct Faculty with the State University of New York (SUNY).

shopping cart
Archives, Global Logistics, Global Trade Daily, Uncategorized, Warehousing

Shopping Cart Abandonment: A Challenge for E-Commerce

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Unfulfilled shopping carts are rampant in the retail industry and represent a significant source of additional revenues. Too many sales are left pending due to the lack of a smooth process and relevant options presented in real-time to the consumer. To “tighten the weave” of these abandoned sales, retailers need to manage unique and omnichannel baskets. Here is an analysis of best practices.

According to Baymard Institute, 55-75% of initiated shopping carts are abandoned. Despite these statistical findings, shopping cart abandonment is not fatal to retailers. Retailers like Cultura and FNAC have been demonstrating this for several years with a dynamic, 360° approach to their customers’ selections. Their strength? Ensure an overall view of the product selection and associate additional offers and advantages in real-time, regardless of the customer channel (at home, on the move, in-store).

Distributors: Aim for the Top!

“This ‘seamless’ connection between physical and digital channels is the first prerequisite for better basket completion” explains Philippe Petit, product marketing manager at Generix. “The second element relies on the retailer’s ability to analyze, in real-time, the nature and value of products, and to trigger personalized offers in correlation, which improve customer satisfaction and the retailer’s margin.”

According to a study by AB Tasty, a personalized e-commerce customer experience can increase the revenue generated by 15%.

To turn this promise into reality requires a software suite capable of transforming “static” shopping carts into dynamic allies for retailers. “Omnichannel Sales ensures this mission by integrating ‘sales gas pedals’ that offer customers discounts, additional products, advantages or loyalty points depending on the products they select,” says Philippe Petit.

Golden Rules

1. A high-performance shopping cart is unique, omnichannel, and seamless

2. It is managed in a personalized, contextual, and real-time manner

3. It is a customer relationship and satisfaction tool

4. It improves sales, margin, and loyalty

The customer in search of omnichannel fluidity

Consumer journeys are made up of constant back and forth between several spaces (physical and digital), several terminals and several moments (information searches, price comparisons, analysis of comments, delivery conditions, etc.). In networks that combine in-store and online sales, too many baskets turn into a trap, due to a lack of management that is in line with this “mosaic” of expectations and behaviors.

There is also the case of franchised stores, which do not always have the same management systems as branches, resulting in a discontinuity in customer relations. In marketplaces, the rate of completion of baskets varies greatly depending on the costs and delivery conditions of each supplier.

The unified basket, a factor of recurrence, recognition, and valuing of customers

“The absence of a unified shopping cart, managed in real-time, penalizes the brands. Between two distributors that are apparently equivalent, customers always choose the one that offers them the most simplicity and recognition,” continues Philippe Petit. To reverse this trend, Generix Omnichannel Sales aggregates data into a single basket, thus freeing retailers from the problems of re-entering or merging files.

The solution integrates the entire spectrum of information including the basket (items, value), the customer journey (physical and digital), the transaction, promotions, loyalty, and history (recency, frequency, value). This makes consumers feel known, recognized and rewarded for their loyalty. “This is a strong element of differentiation, with a purchase act that is supported from start to finish, regardless of the channels and paths,” emphasizes Philippe Petit.

The statuses can be configured (pending, abandoned, or canceled). The customer, the sales advisor, and the after-sales service can find, in real-time, the shopping cart created via an e-commerce site, a wish list prepared on the phone, an order placed on a salesperson’s tablet.

The retailer can create and instantly distribute discount codes sent by SMS, encouraging consumers to go to the store or online. Omnichannel Sales even offers web services for VAT processing and legal collection of shopping carts generated via a salesperson’s tablet or an in-store kiosk.

According to a study by OpinionWay and iloveretail 48% of French shoppers use their store while in a store.

Clear and efficient returns management: An important decision factor for e-customers

Returns are the third most important decision factor for e-customers, after price and delivery terms. The clearer the brand is on the conditions of return (deadlines, logistics), the more it encourages customer trust and commit to purchasing.
“Generix uses the complete information of the registered baskets in the case of a partial or complete return of a purchase”, underlines Philippe Petit. Whether it was generated in-store and/or online, the single basket kept in Omnichannel Sales facilitates the management of returns, with the same level of information whatever the origin of the order (mobile, web, store, call center, etc.).

Generix hopes to eventually offer an analysis of the reasons for basket abandonment, whether it’s due to a product line’s pricing policy, an over cost between the product’s value and its delivery cost, or a lack of clarity on the return conditions. The result is a significant reduction in the number of unfulfilled shopping carts in consumer e-commerce.

As omnichannel-driven demands become the norm, with resulting customer satisfaction harder to achieve, supply chain professionals need to leverage advanced WMS technology to keep their operations nimble, efficient and scaling – especially in these volatile times. Given Generix Group’s completeness of vision and ability to execute, as recognized once again by the Gartner analyst community, their Solochain WMS is well-positioned to help companies needing a modern, flexible and agile solution that can easily adapt to their changing needs. We invite you to contact us to learn more.

This article originally appeared here. Republished with permission. 

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Archives, Global Trade Daily, International Trade

5 Ways to Ease Canadian Supply Chain Pain

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Canadian businesses are facing a painful dilemma as they enter the second half of 2021.

A study released by the Bank of Canada in early July shows business confidence has soared across the country as vaccination programs have rolled out and reduced restrictions on public movement. Business leaders reported strong sales outlook, unprecedented levels of planned hiring and plans for greater investment. In fact, the monetary policy overseer’s quarterly survey showed confidence at its highest level since 2003.

There is good reason to be buoyed about the future. Canadian consumers have saved an estimated $220 billion during the pandemic that they are now looking to spend. Another Bank of Canada survey showed near unprecedent intentions amongst consumers to spend their savings once the economy opens. That is the good news.

The bad news is retailers, wholesalers and service-sector businesses reliant on the movement of goods are also facing unprecedented supply chain woes. Shipments of goods critical to the success of these businesses have been delayed by months due to backlogs at ports in Asia stemming for a global container shortage. In its survey, the Bank of Canada found 60% of businesses would have some difficult or significant difficulty meeting demand if there was a sudden increase. Commodity prices have soared to their highest levels since 2014 while factory-gate prices in China – where many manufactured goods are produced and exported to Canada – witnessed a year-over-year increase of 6.8% in April 2021. Shipping costs from China to the coast of British Columbia have tripled.

‘Just in Case’ Becoming the Norm

The delays and escalating costs of shipping are prompting businesses to stockpile inventory at rates not seen in recent years. The just-in-time supply chain model that has characterized the movement of goods throughout most of the 21st century is now being traded in for a just-in-case model. But the market has responded accordingly with warehouse lease rates up 25% and warehouse availability almost non-existent with little new capacity slated in the near term. In some cases, businesses have had to invest far more heavily in warehousing than they had planned when inventory arrived at port on time, along with delayed inventory and the oversupply that could not be contained within existing warehouse space. In addition, fiscal stimulus programs have tightened the labor market, driving down labor availability and driving up labor costs.

All the added expense is fuelling concerns about inflation as businesses pass down the additional costs to consumers. A spike in inflation could dampen consumer demand, which would then resolve the supply chain woes, but would also stagnate economic recovery. This leads to the greater challenge of whether to plan for a consumer boom or a more temperate market.

What is a Business Decision Maker to Do?

As the old saying goes, necessity is the mother of invention. Businesses have been finding creative solutions to supply chain problems as they have arisen – from alternative transport routes and methods to new suppliers and even alternative materials to build their products.

The reality, however, is there is no one-size-fits-all solution to the supply chain woes being faced by Canadian importers. Solutions will vary based on industry, pain points, sourcing markets, ports of entry and several other factors.

Gain Visibility: One of the key actions being taken by businesses is digging in to learn more about their suppliers’ suppliers. Doing so allows them to better identify potential disruptions where materials may be scarce, or transit routes are congested.

Call for Backup: Even businesses that have reliable suppliers should consider finding alternative sources of supply and ideally from a different country. In most cases, delayed supply is the result of congested ports or a regional dearth of cargo container availability. Finding backup suppliers in other markets means not only having an insurance policy for supply but also for transport.

Make Accurate Supply Projections: It is a tall order to know how consumers intend to spend in the wake of a global pandemic. But businesses that use analytics to gauge future demand will suffer fewer supply chain headaches as they will be able to plan better for anticipated inventory arriving from overseas.

Secure Freight: Cargo capacity is at historic lows as businesses around the world fight for space on ocean freighters. Even inland transport has become challenging. For businesses that have not secured space, finding available transport can be near impossible. Working with a freight forwarder can help not only to identify available capacity but also to secure space for future supply. This is particularly true for businesses that have a stronger gauge of upcoming demand.

Lower Landed Costs: Businesses searching for alternative suppliers can often find cost savings by leveraging free trade agreements to reduce duty outlay. Canadian businesses may find refuge in trade agreements like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, which gives importers free trade access to markets like Vietnam and Singapore. Other opportunities may be found with suppliers in Europe via the Comprehensive Economic and Trade Agreement (CETA). Of course, Mexico is a viable alternative to sourcing in Asia and is party to the recently enacted United States-Mexico-Canada Agreement (USCMA) that replaced NAFTA. Using Mexico could also remove the need to use ocean freight where congested ports are forcing weeks-long delays to bring goods to market.

When will it End?

Canadian importers are anticipating the day when business can get back to normal. After years of uncertainty over the fate of free trade in North America, conflicts with the U.S. over steel, aluminum, and lumber, and conflicts with China over agricultural goods, there is a desire to see things stabilize. The reality, however, is that Canadian importers will have to compete with their counterparts in the U.S. and other markets with recovering demand for cargo space. While more containers are being brought online, the shortage is anticipated to continue into the early part of 2022 or even later. That means rates will remain high for the foreseeable future, particularly for Asia-origin goods moving to North America’s west coast.

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Michael Zobin is a Canada-based director of global trade consulting at Livingston International. His expertise includes supply-chain optimization; duty deferral and drawbacks; conducting compliance program reviews; developing compliance procedures; voluntary disclosure; and post-entry review.

hybrid production
3pls, Archives, Global Logistics, Global Trade Daily

The Future of Sustainable Manufacturing is a Hybrid Approach

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If you’re in the retail business, one of your worst nightmares is being stuck with boxes and boxes of unsold inventory taking up space in your warehouse. Wasted stock can be a huge cost to your bottom line and pose serious risks to your business.

For eco-conscious brands, a lot of unsold inventory is also detrimental to the environment, especially if the products are textile-based. Of the more than 100 billion items of clothing produced each year, some 20% go unsold leftovers are usually buried, shredded, or incinerated (Forbes).

Businesses that end up in an overstock situation generally use traditional bulk manufacturing which requires products to be made and then warehoused until they are shipped. While there is a risk of costly unsold inventory, bulk production can also be economically effective if a product is proven to be a best-seller.

On the opposite side of the spectrum sits on-demand manufacturing–a process by which goods are produced only when they are needed and in the quantities required, eliminating the cost and effort of storing and managing inventory. Although on-demand products are not produced at economies of scale, businesses can more easily and quickly test and go to market with new products and designs.

Previously, businesses would need to choose one method or the other but with recent advancements in technology in the past decade, retailers can get the best of both worlds through hybrid manufacturing. An economically and environmentally sustainable solution, a hybrid approach blends the cost-effectiveness of bulk production with the risk-free per-order fulfillment process of on-demand manufacturing.

How Hybrid Works

Before adding any new item to product lines, experts recommend testing them through on-demand manufacturing to ensure viability. An on-demand approach gives retailers the freedom to sell more SKUs and products that they might not think will take off en masse. Once retailers know a product has the potential to move into mass production, the switch can be made. Eventually, when interest wanes and the product becomes more evergreen but to a smaller audience, retailers can realize ongoing value by going back to an on-demand approach.

Having spent a career as the former VP of On-Demand at One Live Media, an eCommerce agency that works in sports, music, and entertainment, I am well versed in fulfilling merch orders for thousands of sports teams and artists including but not limited to the L.A. Lakers, KISS, Willie Nelson, and Zac Brown Band. Before getting stuck with a warehouse full of stuff, my team would run every new product through the on-demand cycle. Most of the brands we worked with fulfilled 25-60% of their orders through on-demand and the rest with mass production. It’s important to find the right mix of on-demand products and bulk inventory in order to optimize sales.

Why Utilize a Hybrid Approach

Adapt to trends quickly without risk. Culture is now manufactured on-demand. In the past, consumer trends were generally set by businesses. However, in the recent decade, the tables have turned and consumers are setting trends on social media. Because buyers are now changing the way we capitalize on culture, it is affecting how brands produce and manufacture products on-demand. With a hybrid approach, brands can quickly mock up a design and add the product to their online store without prepaying for costly order minimums by first using on-demand manufacturing. If the product doesn’t fly off the shelf, then you can simply remove it from your store and not have to worry about piles of unsold inventory. If it proves to be successful, then they can switch the production process to bulk manufacturing.

Improve cash flow. When a business utilizes a blend of on-demand and bulk manufacturing for its products, it can more easily optimize its cash flow. For bulk products, they can get a higher per product profit margin due to economies of scale. For on-demand products, they don’t have to pay for costly inventory or order minimums, freeing up a business’s cash flow. This liquidity allows brands to boost revenue-driving activities such as marketing, which increase sales, and ultimately grows their business.

Shift toward sustainability. Being eco-conscious is no longer a consumer marketing trend, it is a real practice many businesses are implementing in their business model. Because on-demand manufacturing allows companies to produce only what consumers order, it eliminates unnecessary production and harmful waste—saving both the business’s bottom line and the environment.

Be better prepared for economic disruptions. When COVID-19 disrupted supply chains across all industries last year, many retailers were forced to shut down and were left with boxes of unsold inventory. When utilizing on-demand manufacturing in a hybrid approach, it is important to look for a provider that manages a distributed supply chain network. This type of fulfillment process allows on-demand manufacturing providers the ability to carry a large number of product SKUs in more than one facility, therefore orders of that product are able to be fulfilled in multiple locations. That means if one location closes or has an external disruption— they can seamlessly move order fulfillment to another facility.

It has never been easier to embrace a hybrid manufacturing approach. Many retailers can use traditional manufacturing for bulk products that sell all year round in conjunction with on-demand for short-term collaborations and innovative, trending designs. Because on-demand doesn’t require a large amount of startup capital, it is a low-risk method that can lead to high returns. The ease and efficiency of on-demand combined with the cost-effectiveness of traditional manufacturing is truly paving the way for the future of sustainable retail.

_____________________________________________________________

Dale Manning is Head of Market Expansion at Gooten

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Archives, Global Trade Daily, Special Reports

Reinventing Retail: 6 Ways Retailers Can Drive Customers Back In-Store

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We’re about to experience one of the biggest booms in the history of retail. As the world continues to recover and stabilize, we are entering unimaginable levels of consumer spending. By all predictions, the second half of 2021 will result in a highly competitive race between marketing investment and retail spending that will fuel unprecedented retail expansion.

The last 16 months have led to dramatic changes to the retail landscape and consumer expectations overall. The global pandemic has shuttered many retail operations and crippled the in-store experience. It’s no surprise that customers not stepping foot in-store is a massive and multi-faceted problem for retailers.

No retailer could have predicted the current situation and the preceding events that brought us here, but that’s all about to change. With the global economy on the verge of breakthrough growth, now is the time to reflect and reinvent retail to attract consumers, bring them back in-store, and capitalize on the massive opportunity that lies ahead.

Here are six ways retailers can drive customers back in-store to reinvigorate growth.

 

Start With A Fresh Perspective

Before a wave of customers floods your store, it’s essential to start with a fresh perspective.

What drives your customers? Why would they want to come in and shop? What have they been missing over these last 16 months?

No amount of tactics will help attract customers in-store unless you can provide what they’re looking for—and delight them in the process.

Being fully stocked with the latest SKUs, along with having updated displays and a revitalized interior, are the bare minimum to motivating customers to set foot in-store. In addition, having enough staff available to provide prompt and friendly service is essential.

Give Them A Reason To Visit

Many customers will need an incentive to justify coming back in-store, so give them one. Whether it’s exclusive discounts, priority access to limited-quantity items, a loss leader, or a free bonus for stopping by, make sure that you give customers a reason to visit.

Remember that not all customers want the same thing, so you’ll need to use various incentives to cater to the different types of customers you have. In addition, you can use triggers like new products, inventory restocks, customer birthdays, or other events to solicit customers to stop in. Starbucks does this exceptionally well with their rewards program where they offer double points (called stars) based on the customer’s purchase history and behavior.

Amazon Prime delivers unparalleled (and frankly unbelievable) delivery times on many products, but often even overnight shipping is too long for customers to wait. Retailers can play to their advantage by promoting in-store availability on products that customers are eager to have the same day.

Do everything you can to find creative and personalized ways to motivate customers to come back in-store. There is no silver bullet; you must regularly test new ideas and offers to see how customers respond.

Create A Memorable Customer Experience

When customers return in-store, you must deliver a memorable and favorable experience. This experience could include creative point-of-purchase displays, free samples, or self-checkout. Think about the experience you want customers to have and find ways to surprise and delight them at every touchpoint.

Trader Joes is famous for its exceptional customer experience. There are many stories of employees giving free flowers to customers who are going through challenging times. Similarly, Chick-fil-a is world-renown for its impeccable operational process and unheard-of attitude and kindness.

It’s not enough to deliver the same experience as you did before. Level up your customer experience by defining new procedures that will make your customers leave the store happier than when they entered.

Drive Traffic From Digital To In-Store

To get customers back in-store, you have to reach them where they are, and that means digital. Use your social channels to get the word out and stay current with customers. Similarly, your email marketing and website should both generate awareness and in-store visits.

Paid digital advertising is incredibly effective for reaching the right customers at the right time. Two of the most powerful digital advertising capabilities are targeting specific customer segments and testing offers and incentives to see which work best.

Use your digital marketing wisely and ensure it plays a cohesive role in helping drive awareness and foot traffic to your locations.

Retrain Your Customers

The harsh reality is that consumers are lazy—and they’ve been trained to become even lazier. Delivery and curbside pickup have become mainstream, and many consumers prefer this convenience over setting foot in a store.

You have to retrain customers how to shop with your business, which means cutting back on the convenience factor. To drive in-store visits, you must create an experience where the past of least resistance—and highest value—is through the door.

All of the tactics mentioned above can help create such an experience, but the key takeaway here is to make sure you’re not cannibalizing your efforts. Any curbside and delivery options should include flyers or catalogs that help customers understand what’s available in-store and why it’s worth their time and effort.

Keep Them Coming Back

Getting customers back in-store will require effort—and you want to make sure you maximize your chances of customers coming back and telling others to do the same.

One of the best ways to get customers to return is by giving them a tangible, monetary reward. Kohl’s is famous for “Kohl’s Cash” which is essentially a voucher for a fixed amount of money that you can apply to your next purchase within the specified redemption period. The key detail being the redemption period, which is always a week or two in the future—meaning you have to come back again to use it.

In addition to generating return visits, consider why a customer would spread the word and tell others to stop in. Small gestures go a long way, and anything you can do to help customers become advocates will add up incrementally to drive a sustainable increase in in-store visits.

It’s Time To Reinvent Your Approach To Retail

Now is the time to reinvent your approach to retail. The world has changed, and there is no returning to normalcy. There was no advanced warning of how drastically retail would be affected and the long-lasting impacts the pandemic would bring. Treat this as your forewarning of the opportunity that lies ahead.

Customers are tired of the predictable retail experience, and you must invest in creating an innovative experience that can satisfy customer demands while exceeding their expectations.

The retailers who prepare and invest in the reinvention of retail will thrive and experience unprecedented levels of customer acquisition, satisfaction, and retention. Retail will never look the same again—and that’s a good thing for those who are willing to evolve.

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Tim Parkin, President of Parkin Consulting, is a consultant, advisor, and coach to marketing executives globally. He specializes in helping marketing teams optimize performance, accelerate growth, and maximize their results.

By applying more than 20 years of experience merging behavioral psychology and technology seamlessly, Tim has unlocked rapid and dramatic growth for global brands and award-winning agencies alike.

He is a speaker, author, and thought leader who is featured frequently in industry publications. Please visit www.timparkin.com for more information on Tim’s services and his private community of marketing executives.

digital marketing
Archives, Commentary, Global Trade Daily

Why Small Businesses Need to Embrace Digital Marketing

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In the last decade, marketing has shifted in a different sphere. With the rise of technology and social media, we got introduced to a new branch of marketing which is digital marketing.

In many ways, digital marketing is no different than traditional marketing. Digital marketing is the use of the Internet to reach consumers.

But digital marketing has replaced most traditional marketing tactics because it’s designed to reach today’s consumers online, and as we know, the digital world is so trendy right now.

Our question is: why should small businesses embrace digital marketing? A simple answer: Because it’s the future. With the rise of social media, digital marketing is a new trend.

If you’re not sure how to do this, we are about to give you some of the most efficient tips and tricks that will for sure grow your business.

So, let’s dive in. How to make a business rise in digital marketing:

 

1. Make a strategy

Before even starting with anything, it is a good habit to make a strategy and know what you are expecting for your business, whether it is a new, a small, or a big one. Strategies are what keep your business on track and always evolving. Also, social media strategies are what make your business pop up more, and we will talk about this later on.

2. Make a user-friendly website

Having a website is a good start. But, it doesn’t mean that you cannot succeed if you don’t have a website. However, this section is about those who want to have a website. A good and easy way to build a website is WordPress. We are not sure what your field is, however, WordPress is free and most of the themes there are free. If you want a more customized website you can hire a web developer, or now with the quarantine going on, it is a very smart idea to hire freelancers. Another way is that you can hire a digital marketing company to do all these for you. But, again, this is something you can do yourself, it just needs a little more time.

3. Search Engine Optimization

If you haven’t heard about this, no worries, it is a new technique that digital marketers are using lately. Search Engine Optimization(SEO) is a technique that helps your website rank better on Google by using link building as the main source. However, it is divided into two parts, On-Page SEO and Off-Page SEO where:

On-Page SEO is 30%

Off-Page SEO is 70%

On-Page SEO is mostly focused on the website, making sure that your website has meta descriptions, best titles for crawling, keyword research, h1 tags, etc. Optimizing your website with SEO is a very important step. There are a lot of companies that offer such services, however, if you don’t want to spend your money on this you still can do it yourself, however, it will need some time.

Meanwhile, Off-Page is focused mostly on campaigns, where you need to work on backlinks and link building more. Why is this so important? Because link building is what will get you ranked on Google. More links linked to your website, the more visitors it will bring, and this way Google will rank it higher. Ahrefs is a very good tool to use if you want to track your competitors.

4. Keep track of your competitors

Since we already mentioned that you have to track your competitors, it is important to know the reason why. You need to track your competitors to see what they are doing, and be better than them! If you have very big competitors, it doesn’t really matter that you are a small company, use it as an advantage to get inspired and become better than them.

What are some of the benefits of digital marketing?

Benefits of digital marketing:

1. It’s free

Promoting your business on social media is mostly free. Because social media apps are free. However, if you want to promote it in a more advanced way then you have to pay for the ads. But, we would advise you not to because with the right social media advertisement you can attract as many clients as you want. We also need to mention that it is cheaper than traditional marketing.

2. You connect with your customers more

By using social media, you get really close to your customers and you get to know what they like and dislike more. This way, you get to hear their feedback even in a closer way. If they don’t like something, you will know right away, and then you will make it better!

3. You can reach a bigger audience

As we know, the internet is globally spread and it is used almost in every part of the world. This way, if you are located in North America, you can reach people in Western Europe by using social media. It won’t be a problem to do so because social media does this amazing thing for you. All you have to do is keep track of what your audience loves.

We really hope that we helped you out to start your own business and be in the spotlight with our tips.

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Archives, Global Logistics, Global Trade Daily

YES, AMAZON AND NIKE EXCELLED, BUT HERE’S A SECRET: YOU CAN, TOO

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The Internet has been hailed as a driver of growth, opening new sales opportunities to a multitude of industries that may have once been limited by geography. That, coupled with international supply chains and a global delivery network, has paved the way for a new economy, one that isn’t limited by borders, distance, or any other barrier that could hinder the growth of commerce. But this is not a one-way street paved with gold, because along with unprecedented opportunity has come unprecedented competition. Just as we can easily enter new markets, a new upstart anywhere in the world today can pose a significant competitive threat tomorrow.  

This shift in the competitive environment has been particularly challenging for retailers.  While e-commerce opened the door for extraordinary levels of growth for virtually any business that takes advantage of this incredible sales avenue, it also created new competitors and the need to develop new capabilities to serve new channels to market. Retailers that have been slow to respond have been left competing amongst themselves for a smaller and smaller share of consumer spending. But this is the order of evolution. As Darwin said, “It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change.”

In the unique climate brought on by 2020 – one of social distancing, minimal store visits, and an increase in online shopping –with e-commerce, which was once berated by retailers for their downfall, has become a lifeline for businesses and an essential service for most of the world. The winners in the pandemic have been those that quickly shifted and adapted to the new realities; be it retailers that could satisfy the demand for click and collect or home deliveries. Or even the brands that could shift quickly to more direct-to-consumer (D2C) sales or the beverage suppliers that could shift their beer supply from kegs for bars to cans for home consumption. Agility and resilience are not new concepts and were in vogue prior to the pandemic, but for many, these supply chain capabilities are now a top strategic priority. 

One of the big winners from the pandemic has been a company whose origins as an e-tailer which, while novel at the time, was not particularly earth-shattering as they offered an endless library of books that could be shipped almost anywhere. This retailer gradually increased the number of items that were offered and began to use data and algorithms to adjust product prices on-the-fly. The company eventually made it possible to sell products faster and more efficiently than anyone else. And on top of that, it slowly constructed a distribution network that was more agile, resilient, and far-reaching than anyone could have ever imagined. 

Compete in the face of insurmountable odds

All of this begs an important question: How can any company expect to keep up with this retailer? If its attributes don’t sound immediately familiar, then its name certainly will: Amazon. Built on the growth of the Internet and an always-connected, on-demand world, Amazon became a stalwart unlike any other.

Amazon’s growth isn’t as complex as it sounds. The company has managed to successfully dominate a multitude of sectors – and continues to seek out new areas of growth, including groceries and pharmaceuticals – by using what could be described as a very simple process. In short, Amazon is very agile. But there is another element to the Amazon secret sauce, which was also mentioned by Darwin. Much of Amazon’s agility is driven by intelligence. Amazon has amassed a very significant amount of data. While the vast majority of data is not leveraged by most businesses that collect it –as much as 68 percent per as much as 68% per researchers at IDC – Amazon utilizes as much data as possible. This online retail leader uses its data to gain insights into the likes of price elasticities and demand shifts. If an item increases in overall popularity across all retailers, Amazon may very well be the first to know about it, providing a notable edge in reaching those who want it most.

The obvious success of Amazon’s intelligence has awoken many retailers and brands in the Consumer-Packaged Goods (CPG) industry. Companies such as Nike have shifted sales online during the pandemic, during which time Nike managed to increase the D2C channel to now account for 33 percent of total sales. This provides Nike with access to a lot of additional information about its own customers and demand patterns from which it can garner powerful insights. This ability to analyze Point of Sale (POS) data quickly and gain insights is the first part of the Amazon advantage. The second part is the ability to respond to this intelligence in close to real-time through empowered processes and an agile network.  

Persevere even when challenges persist

Incumbents may not be terribly enthused by Amazon’s capabilities, but they are catching on. They recognize the fact that if they aren’t careful, the digital retail giant might do to them what it has already done to booksellers. But is the only solution for brands to embrace D2C and must retailers just accept their fate and take what they can get from a company that has revolutionized the way the world shops?  

The surprising answer is that businesses are not at Amazon’s mercy. Yes, Amazon is a powerful force and it should not be taken lightly by any enterprise looking to sell products anywhere. But we have to look to Amazon for inspiration and take what Amazon does and improve it. The answer is not new either. It lies in virtual supply chains.

Don’t try to beat them – partner with them

Businesses that operate in the same supply chain often see each other as competitors and, consequently, relationships can be adversarial. This is a natural reaction – there are only so many dollars to share around, and only so many items that people are interested in acquiring. However, they need to realign that thinking and recognize that it is actually supply chains that compete, not companies. Martin Christopher, professor at Cranfield School of Management, famously said, “Individual businesses no longer compete as standalone entities, but rather as supply chains. We are now entering the era of ‘network competition’ where the prizes will go to those organizations who can better structure, coordinate and manage the relationships with their partners in a network committed to better, faster, and closer relationships with their final customers.”  

Supply chains will always be physical – that will not change as long as there are physical goods that need to be manufactured, shipped, and acquired. What can change is the collaboration between businesses and the outcome of the process. 

This enables Amazon to have a long tail of products while most businesses focus on rationalizing SKUs. The e-tail giant makes it possible for consumers to find whatever they want through its distribution system in which it can locally store the most frequently purchased items and rely on its massive network to deliver the rest within two days at viable costs.

So how can other businesses compete? Consider the network that many of them already have in place. Brands like Hugo Boss and Nike are doing more D2C sales, which is one component of the virtual supply chain, providing the company with end-to-end control of its relationship with and delivery to the consumer. By selling directly to those who wish to purchase their products, brands will ultimately gain Amazon-like benefits, including in-depth insights from the data it gathers as a result of those sales. 

But these brands – and the retailers and suppliers that service them – could all further benefit by joining forces in a virtual supply chain. 

Integrate with suppliers to improve agility

Businesses can begin by understanding that while the need to control their supply chains is valid, they don’t necessarily need to own them. Instead, brands should consider the effects of Amazon’s dominance – the e-tail leader is forcing collaboration to create these virtual supply chains. Brands must partner with retailers in order to compete and they must be willing to sell directly to consumers. And retailers must embrace omnichannel and collaborate with brands if they are to improve the viability of the “‘virtual supply chains”’ that they find themselves within. 

Brands found that they could foster new relationships, create stronger bonds, and more intimately reach their customers by going directly to them. This has led to distinct advantages in the form of POS data that would normally be relinquished to a retailer. By attaining this information through direct sales, businesses can learn more about who’s buying their products and make smarter, more targeted decisions going forward.

The question is then what to do with the information and insights. The winner is not the most intelligent supply chain but the most intelligent and suitably agile supply chain from end to end that wins. Yet most businesses continue to struggle with traditional planning strategies just within their own four walls, particularly S&OP. Survey after survey reports that approximately 50 percent% of companies consider that their S&OP process are not fit for purpose.  This is both because of cumbersome processes and also the lack of network transparency and visibility.

In an increasingly volatile world, the winner will operate and compete from within virtual supply chains that are truly connected from end to end with real-time information, rapid decisions, and orchestrated network response. This requires the virtual supply chain to be global – powered by information and empowered by collaboration.  

Virtual supply chains are required for smooth global trade

In addition to shifting competition due to globalization, demand and supply-side shocks are inevitable and have increased in frequency. This is not necessarily because the world is more volatile, which may or may not be the case, but certainly, because supply chains are now truly global and so a shock anywhere in the world can immediately disrupt these fragile networks. That is not likely to change even when the world feels normal again, so the pandemic should be thought of as a “stress test” for planning systems. Case in point: what hasn’t worked well in this situation is not working well with smaller day-to-day challenges.

Enabling virtual supply chains also requires a new way of supply chain planning – a strategy that is focused on real-time, event-based scenario planning that will enable businesses to quickly and effectively respond to changing scenarios. It’s a strategy that makes it possible to evaluate feasible options and determine the best decision for optimal results.

But good scenario planning is hard to achieve when the underlying processes are not designed for managing events. However, with planning processes that focus on managing events – such as promotions, product launches or capacity changes and how they might impact operations – businesses will be better equipped to withstand or entirely avoid future challenges and disruptions. Only then will it be possible to create a truly virtual, real-time supply chain that can ebb and flow with real-world demands and disruptions and persevere through the most difficult scenarios.

Anticipated events are just the beginning

The aftershocks of COVID-19 were once considered to be an anomaly – an unanticipated event that few could have predicted. Now that businesses have been living with the pandemic for roughly a year, they may feel that they are more prepared for another event of this magnitude. It wasn’t easy to get to this point and the challenges brought on by the pandemic are still challenging many. But after months of stay-at-home orders and supply and demand fluctuations, enterprises have learned to cope. Now the focus is switching to how businesses can learn to be more prepared for the next unforeseen challenge. 

New and unexpected events will occur, that is a given, and supply chains must react accordingly. Whether dealing with political coups, trade wars, or even the threat of another pandemic or comparable world event, supply chain agility and resiliency are the keys to ensuring businesses can keep up. Whatever these events are, scenario planning, scenario planning, driven by data and the insights they provide, empowers people to make rapid decisions while making it possible to share info with suppliers and orchestrate the network for outstanding success.

It is absolutely vital that supply chains become and remain agile and resilient beyond these trying times, knowing full well that the world can turn upside down at any moment. Businesses and supply chain networks that are prepared for sudden changes – whatever they may be, and in whatever shape they may come – will be the ones that are capable of not only surviving but thriving in the face of adversity.

Amazon demonstrated the power of data – now others can use it to their advantage

If the rise of Amazon has taught us anything, it’s that businesses must evolve in order to compete. Likewise, if the pandemic has taught us anything, it’s that agility and resiliency are essential to building the very best supply chains. Both challenges are critically linked: if a business fails to survive one – the current climate or a dot-com retailer that took the world by storm – it will be difficult to survive the other.

Amazon is, in a sense, more predictable than the pandemic in that we already know the company’s next move: continued growth by dominating an ever-growing portfolio of industries. On the other hand, we don’t know every challenge the pandemic could bring, nor could anyone predict the next disruptive, Amazon-sized empire. As new technologies and new forms of commerce are introduced, who knows what’s possible?

No one does – and that’s precisely why agility, resiliency and event-based real-time scenario planning are needed. By developing a strategy with all of those components front and center, businesses will have what they need to create supply chains that can endure the worst and persevere with superior, more reliable results.

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Antony Lovell is vice president, Applications, at Vuealta, a Global Anaplan Partner that helps organizations around the world solve complex planning challenges, through the delivery of a suite of applications powered by the Anaplan Connected Planning Platform. Founded in London, Vuealta has its U.S. headquarters in New York City as well as offices throughout Europe and Asia. 

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Archives, Global Logistics, Global Shippers 101, Global Trade Daily

Be More Than a “Shipper of Choice” to Differentiate from The Competition

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Severe truck capacity shortages mixed with high freight demand continue to plague the road transportation market for shippers in 2021. As a result, shippers are having trouble maintaining pricing power and contract rate compliance in this inflationary market. According to the latest DHL Supply Chain Pricing Power Index, road carriers will retain pricing power in the transportation market for the foreseeable future.1 One major component of the index is freight tender rejections, which have jumped to a staggering 30%, further reinforcing the magnitude of truck capacity shortages.1 To combat these unfavorable conditions, shippers cannot continue to exercise a transactional approach to supplier relationship management and expect to retain service providers and grow relationships in the future.

Shippers must differentiate from the competition and go beyond the best practices of reducing detention time, providing driver amenities, implementing favorable payment terms, and tendering steady freight volume. These “Shipper of Choice” best practices should already be standard procedures for any organization today. Instead, they need to adopt a new mindset to differentiate themselves and remain competitive.

Today, manufacturers, distributors, and retailers need to be more than just a “Shipper of Choice” to grow their business and add value to their supply base. For shippers to provide real competitive value from now on, they need to address each of the following:

1. Adopt a partnership first mindset by developing a robust strategic carrier base and minimizing transactional relationships:

Shippers should continue to form deep alliances with carriers and prioritize collaboration over temporary rate cuts; it will provide a competitive advantage. In the North American truckload market, buyers often engage in transactional relationships with suppliers, operating directly from the spot market or leveraging continuous sourcing initiatives and short-term contracts. While this might temporarily raise positioning power for a shipper, it falls short as an overall approach to procurement and carrier management, ultimately harming supplier relations. Instead, strong carrier integration will provide shippers with more value opportunities such as joint ventures, cooperative savings strategies, detailed service level agreements, and optimized distribution networks. An efficient long-term partnership with a strategic carrier base nets more significant savings opportunities and helps a shipper remain innovative, profitable, and competitive.

2. Share consistent performance transparency through a voice of supplier and carrier scorecards:

Move away from a reactive approach to supplier relationship management to a strategic one by improving carrier communication and continuously refining operations. Through a “Voice of Supplier,” a carrier can provide reliable market intelligence to a shipper, including insight into how a shipper compares to the competition. Organizations should use this feedback to invest in improvement initiatives, such as internal development programs, to keep carrier turnover low and attract new service providers.

Use carrier scorecards to ensure suppliers understand where their performance ranks based on a set of key performance indicators. Then detail those metrics, especially on-time delivery and tender acceptance rate, to make immediate changes and correct recurring inefficiencies. That process helps provide a pathway to successful future interactions and strengthens a partnership. If a carrier is to remain compliant, a shipper must hold their performance accountable too. Measuring performance, such as OS&D percentage and freight allocation, will instill trust in the carrier base that a shipper will work at their improvement areas.

3. Embrace technology for improved connectivity, visibility, and communication:

Logistics companies deal with vast quantities of data simultaneously. Employing a global Transportation Management System (TMS) and Freight Bill Payment and Audit (FBP&A) program yields increased accuracy for shipment tracking, rate compliance, and freight spend visibility. They reduce rework that comes with manual process errors, allowing a shipper to streamline operations and identify more cost-saving opportunities. With the increased market volatility in the logistics industry, logistics managers must maintain real-time visibility into the flow of goods through their worldwide network. The ability to track a product’s location from the first mile to the last is now a must-do.

Application Program Interface (API) is becoming the preferred system over Electronic Data Interchange (EDI) for information exchange between shippers and carriers. Purchase orders, shipping statuses, payment confirmations, and other data sets are sent seamlessly between carrier and shipper without delay. API enhances connectivity, leverages automation, and seamlessly integrates a supply base. Carriers embrace that technology and are no longer inclined to haul for those shippers who are still reluctant to invest and adapt.

If shippers have not already, they need to begin treating carriers as core business partners. 2020 marked a year filled with uncertainty and market volatility for the logistics industry. In 2021, shippers will continue to wrestle with severe capacity constraints and will need to tackle unique challenges in the future market climate. Collaboration with suppliers makes overcoming those hurdles much easier. Employing the covenanted “Shipper of Choice” best practices is now a requirement but adopting a new supplier relationship mindset and embracing new technology will help organizations remain competitive and differentiate from the competition. 

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Alex Hayes is a Senior Associate at GEP, a leading provider of procurement and supply chain solutions to Fortune 500 companies.

Citations: 1https://www.freightwaves.com/news/stimulus-round-3-provides-huge-boost-to-consumer-economy-freight-volumes-are-next
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Archives, Global Trade Daily, News

C.H. ROBINSON AND SAS JOIN FORCES TO UNLOCK NEW ERA OF DYNAMIC BUSINESS PLANNING FOR RETAIL AND CPG COMPANIES

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Today, leading global logistics company C.H. Robinson and world-renowned data analytics company SAS announced a partnership to rewrite the way global supply chains work as they become increasingly more complex. Until now, supply chain demand planning and shipping execution often worked in autonomous siloes without connection, digital integration, or real-time visibility. This partnership will solve that problem by creating a first-of-its-kind offering: an end-to-end supply chain solution that integrates inventory and demand signal data with real-time transportation data. Steering a supply chain from a centralized operation like this will allow companies more fluid adjustments in scheduling, carriers, and responses to changing consumer demand while inventory is still moving on the ground.

Retail and CPG (consumer packaged goods) companies in North America will benefit first from this integration, although it is designed to eventually fill the gap between business and logistical planning across all industries.

“The C.H. Robinson and SAS collaboration uses data and analytics to solve a gargantuan supply chain problem: agility,” said Brian Kilcourse, retail and CPG analyst at RSR Group. “As 2020’s shortages illustrated, COVID pushed retailers and consumer goods companies over the supply chain cliff. The C.H. Robinson-SAS partnership combines data from retailers and consumer goods companies with logistics and transportation data to build faster, more resilient, cost-effective shipping methods that honor traditional models while clearing a path for needed innovation.”

According to SAS’ Richard Widdowson, Vice President of Global Retail & CPG Solutions, the future winners in transforming retail supply chains will be those who change their mindset from long-term planning to agile planning by effectively leveraging data to make adjustments in real time. “Powered by SAS and mobilized by C.H. Robinson, this partnership helps companies see their supply chains in a new light,” Widdowson said. “It will help make opportunities and challenges visible as they happen so our customers can accomplish more – even during a disruption of pandemic proportions.”

Within an integrated data loop, SAS triggers a demand plan which feeds into C.H. Robinson’s dynamic transportation procurement tool. In turn, that connects into the world’s largest supply chain management platform, Navisphere, to provide real time visibility of inventory, which then links back and informs SAS’ Intelligent Planning suite. This means a retailer or maker of packaged goods, for example, can connect its corporate demand plans to products and freight on the move. They then can better react to real-time changes in demand, such as surge in consumer interest, and real-time changes in transportation factors, such as inclement weather.

“By establishing this unprecedented information loop, we are transforming the procurement process and giving companies the information advantage and flexibility needed to better compete in today’s rapidly evolving transportation marketplace,” said C.H. Robinson’s chief commercial officer Chris O’Brien. “Rather than relying solely on an annual transportation contract event which frequently becomes out of sync with real-world variables, we can build a more dynamic procurement plan that can flex based on real-time changes in product demand and the transportation market. More than ever, supply chain agility, based on real-time data, can be a competitive advantage for companies.”

“Our work with C.H. Robinson and others at the MIT FreightLab has shown that the freight transportation industry needs innovation in procurement and demand-planning to reduce cost, minimize risk, and increase the level of service for shippers,” said Chris Caplice, Executive Director of the MIT Center for Transportation & Logistics (CTL) and FreightLab. “This partnership helps move the industry forward in the right direction of a more responsive and agile transportation procurement solution.”

For more information on the SAS and C.H. Robinson partnership, or to request a demo of the integrated tools, visit CHRobinson.com/SAS.

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About C.H. Robinson

C.H. Robinson solves logistics problems for companies across the globe and across industries, from the simple to the most complex. With nearly $20 billion in freight under management and 18 million shipments annually, we are one of the world’s largest logistics platforms. Our global suite of services accelerates trade to seamlessly deliver the products and goods that drive the world’s economy. With the combination of our multi-modal transportation management system and expertise, we use our information advantage to deliver smarter solutions for our more than 119,000 customers and 78,000 contract carriers. Our technology is built by and for supply chain experts to bring faster, more meaningful improvements to our customers’ businesses. As a responsible global citizen, we are also proud to contribute millions of dollars to support causes that matter to our company, our Foundation and our employees. For more information, visit www.chrobinson.com (Nasdaq: CHRW).

About SAS

SAS is the leader in analytics. Through innovative software and services, SAS empowers and inspires customers around the world to transform data into intelligence. SAS gives you THE POWER TO KNOW®.