Blog originally featured in Supply & Demand Chain Executive business magazine on July 7, 2015.
Information flows quicker and easier than it ever did before. Long gone are the days when we heard about yesterday’s news in the morning paper. Asking someone for directions seems like a quaint ritual of our parents. Asking a hotel concierge for dining recommendations feels like a chore.
I recently had a chance to speak with Philip Britt who was writing an article for Enterprise Apps Today about the 9 Tech Trends Transforming Retail. There is one area in particular that we discussed I thought I would spend some more time on here today – the Cloud.
The retail industry is facing a host of challenges today; new regulations (such as EU 1169 in Europe), changing shopping behaviors (Mobile and Online shopping), an increased demand for access to product information (thank you Smartphones), and shifting buying power (Millennials beginning to outspend Baby Boomers). Any one of these challenges over a five-year period would put stress on the infrastructure that most retailers rely on. All 5 at once are causing them to transform the way they operate their business, and the infrastructure they use to do it.
International trading has always played an important role in Asian countries. In a practical business, it takes a lot of effort to get customers’ orders shipped out; however, it is even more challenging on the back-end of production. There’s potential risk which can cause continuous logistical errors. Product information errors cause a domino effect of errors resulting in invoicing and sizing errors…just to name a few. All of which result in a decrease of profits.
“Boing” tolls the bell of doom. On 13th December 2014 another Grim Reaper of corporate IT budgets visits the European Grocery Market when the Food Regulation (EU) No. 1169/2011 come into play. Or at least that’s the way some people I speak to are seeing these new regulations. Continue reading
We have come a pretty long way since we’ve hunted our dinner with crossbows and scavenged leaves and berries from the forests. In the 21st century, modern civilization is running global food and product supply chains that make markets independent from seasonal and regional restraints.