The next evolution of the supply chain will be all about visibility
PVH Corp., the parent of Calvin Klein and Tommy Hilfiger, is more highly prioritizing real-time inventory visibility to better adjust to potential disruptions coming out of the pandemic. Eileen Mahoney, PVH’s CIO, told The Wall Street Journal, “It’s allowed the business to get a better handle on where demand is, where the consumer is shopping, and we’re now going to be nimble about where inventory is.” A new report from the Capgemini Research Institute finds 66 percent of consumer products and retail (CP&R) organizations saying their supply chain strategies will change significantly in the next three years, with much of the attention on heightened visibility. The supply chain realignment is expected to focus around three areas.
Sixty-eight percent of CP&R organizations surveyed faced difficulties in demand planning due to a lack of accurate and up-to-date information on fluctuating customer demand during the pandemic. Two-thirds plan to segment supply chains according to demand patterns, product value and regional dimensions post pandemic, while 54 percent will use analytics/AI-machine learning for demand forecasting.
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