The global supply chain is flawed, ridden by many discrepancies, obstacles, and roadblocks. These hurdles translate into unimaginable challenges, which impede CGs’ success in the short and long term. Hence, leveraging trade execution analytics is the game-changer, enabling the global supply chain to become more streamlined and hurdle-free.
Significant execution challenges in the supply chain can impede a company’s growth. Before such hidden or unforeseen challenges derail the company’s growth entirely, it is better to identify them and act accordingly.
Below are a few bottlenecks common to CGs:
Demand fluctuations: The consumer market is never stable and is constantly subjected to changes influenced by multiple factors. As a result, short-term demand fluctuation can worsen, compounded by a lack of real-time demand signals. This causes high demand variability, stockpiling, and wastage.
Sales reps not productive: Static route planning pre-configured doesn’t allow deviations, often ignoring the shortest possible routes from Point A to Point B. Hence, more time spent on one customer results in two customers lost. This impeded the productivity of field sales representatives.
Too many manual touchpoints: Legacy systems have excessive manual touchpoints in the ordering process, resulting in increased order cycle time and costs.
Fill rates remain low: Lack of inventory visibility and delayed shipments and/or deliveries lead to lower fill rates.
Low market coverage: In brick and mortar, distance and store size leave large numbers of stores unserved or under-served.
With the help of supply chain management and execution solution, most of these roadblocks are quickly addressed.
Smart and tech-savvy CGs have recognized the importance of new-age technology to streamline the complex supply chain. As a result, they are reversing the tide in their favor. Let’s find out!
Did you know that CGs adopting AI and advanced analytics experience more than 10% revenue growth?
Increased visibility of the supply chain can help address the bottlenecks mentioned above. However, data collected is usually present in different formats or scattered across multiple documents, which impedes data analysis. This is where supply chain execution and analytics can make a significant difference, driving efficient supply chain operations and positioning them for growth.
With the help of forecast data, channel inventory visibility, new product introductions, and promotional calendars, CGs are in a position to generate better-suggested orders for their customers. Suggested orders are based on product category, market basket analysis (to understand the category of SKUs purchased), Analysis of retailers’ buying patterns, and retailer warehouse capacity allotted to CG, among others.
CGs can experience a surge in sales opportunities with better-suggested orders. As a result, they can ensure retailers’ stock comprises the right mix of CGs products, strengthening relationships between trading partners, thus increasing current and future sales. Suggested ordering can provide CGs with various benefits — from leveraging channel partners’ working capital to getting more actionable product recommendations based on workflow steps.
This increases the visibility of retailers’ stock levels; hence, when replenishment occurs, the CGs are automatically notified of the same. Further, targeted replenishment simplifies the ordering process, eliminates costly emergency deliveries, and helps CGs to better estimate projected needs, thus maintaining optimal product quantities for each retailer.
This is considered one of the critical key performance indicators of CGs, arresting forecasting errors, manufacturing delays, and insufficient logistics and supply chain visibility. However, execution analytics can help CGs achieve better OTIF fulfillment by setting the right customer expectations during order-taking and providing real-time updates on shipment status.
Route planning aptly identifies which stores field reps should visit and in what sequence should replace conventional, calendar-based, static route planning. Dynamic route planning provides near real-time demand signals, ensuring sales reps are visiting the right stores at the right time, thus maximizing strike rate and visit productivity.
Partnering with the right solution provider can reduce more than half of the burden. As a result, CGs are increasingly searching for the best supply chain execution solution to help them overcome the challenges present in the current supply chain environment.
TradeEdge Execution Analytics empowers CGs with the right insights and increased visibility into the supply chain and converts those insights into actions, and implements them as and when needed.
Here are the following benefits of the TradeEdge Platform:
Hence, a comprehensive and user-friendly supply chain platform like TradeEdge helps provide real-time insights across the demand value chain. It also allows CGs to take actions on time, implement them, and accelerate profitable growth. Such platforms take CGs one step closer to operating in a fully autonomous supply chain, improving channel visibility and retail execution, and enabling them to reach new markets faster.