While 2020 has provided no shortage of supply chain challenges, adopting AI and price optimization can offset negative financial impacts. Read the full InsideBIGDATA article to learn more.
It goes without saying that COVID-19 has significantly disrupted B2B supply chains. Predicting geographic differences and timing amid business closures, adjusting plans depending on uneven demand and inventory positions, and adapting fulfillment methods have been difficult and fluid situations to manage.
In addition to supply chain issues, we’ve witnessed a radical channel shift to eCommerce. At the onset of the pandemic, companies that were equipped to take orders online and had invested in a quality online customer experience, as opposed to those who have not made the effort to get their customers set up on eCommerce platforms, were in a better position to serve customers and potentially gain some wallet share. This difference in capability has been accentuated by the current COVID disruption.
Fortunately, it’s never too late to optimize and expand on the eCommerce offering you have in place today. Keys to success here are rational and market-aligned pricing, relevant product recommendations, inventory availability and speed of delivery.