MHD E-COMMERCE
OMNICHANNEL STRATEGY DURING A PANDEMIC A recent study revealed 20 per cent of retailers don’t think they have the right technology to execute their omnichannel strategy. Brittany Coles reports how the current pandemic is encouraging retailers to rethink omnichannel technology.
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ast year, many retailers were thinking about putting plans in place to invest in technology to support their omnichannel strategies. Due to the current pandemic that is sending shockwaves through global supply chains, these retailers are now needing to not only think about investing in technology, but to quickly start putting plans in place for their omnichannel strategies. Omnichannel strategies are still a work in progress according to recent research on omnichannel fulfilment. Forrester conducts the annual “The State of Retailing Online” study by the National Retail Federation (NRF). The 2019 research summarised attitudes and investments that retailers and digital business professionals are making for both their store and their online businesses. Findings in the research suggest that retailers were starting to make investments in order management systems to shore up inventory accuracy and order routing last year. However, when the sudden and unexpected challenges that came with COVID-19 hit retailers, many of them would have found that their plans for investing in technology to support their omnichannel strategies hadn’t progressed very far. COVID-19 highlights the importance of having a risk-aware supply chain with visibility, resiliency, flexibility and collaboration. As the pandemic continues, supply chain leaders are assessing their supply chains and seeking out risk-aware solutions. Having technology in place that helps to effectively execute their omnichannel strategy, while also meeting an individual business’ 54 | MHD MAY 2020
return on investment (ROI) goals, will be at the forefront of retailers’ investment plans. However, nearly a quarter of survey respondents said finding the right ROI metrics for a fulfilment program was very challenging. Raghav Sibal, Manhattan Associates’ Australia and New Zealand managing director says investment in technology allows a flexible and multichannel supply chain, which is focused on efficient order
fulfilment and a unified customer experience across all channels.
THE YEAR OF UNPRECEDENTED DEMAND Raghav says in today’s fast-paced, digital economy, new trends in retailing such as the rise of e-commerce and new and evolving consumer technology, such as smartphones, AI, geotargeting and more, have heightened customer expectations of service, which is why
