By Jim Tompkins
CEO, Tompkins International
Retailers need to adapt to next and next and then to next. As I have predicted, e-commerce has taken a huge toll on brick & mortar stores and retailers need to adjust their supply chain. A supply chain now must accommodate the need to be omnichannel retail, omnichannel logistics, and omnichannel delivery.
Some of the retailers that are being affected by e-commerce this year are:
These have not and will not be the only retailers affected by the changing marketplace. Some of the globe e-commerce titans include; Alibaba, Amazon, Apple, eBay, Finish Line, Google, JD.com, Lyft, Otto, Rakuten, Tesco, Uber, and Walmart. These titans have been able to adapt to the new omnichannel world of retail and have recognized the importance of moving onto Next. Because of this recognition they have been able to grow, transform, innovate, and be on the offense.
Omnichannel retail is a multichannel approach to retail that provides the customer with a seamless shopping experience whether the customer is shopping online from a computer or mobile device, or in a brick and mortar store, seamless inventory visibility and seamless continuous improvement. Omnichannel logistics is a multichannel approach to network planning, combined distribution centers/fulfillment centers/returns centers/liquidation centers and lean facilities planning. Omnichannel delivery is a multichannel approach of selecting the most efficient and effective mode and carrier for multichannel transportation while addressing the personalization expectations of each individual channel/customer.
It is clear e-commerce is changing retail, consumer products, and distribution. These changes are having huge impacts throughout the supply chain. Your evolution to omnichannel requires that you move on to Next. And, the rate of change is acceleration. HANG ON TO YOUR HATS!