For economies to run efficiently, it is imperative that the goods produced are managed optimally to avoid unnecessary losses during the journey from production to consumption. Thus, for the overall supply chain, warehousing and distribution play a pivotal role in ensuring that goods are delivered to the end-user at the right time and in the right condition.

In certain cases, this crucial aspect is often neglected due to lack of infrastructure, thus, effectively pushing businesses towards inefficiencies. Therefore, corporations are looking into the problem and seeking solutions that help build capacities to ensure their stored products are given proper and appropriate attention. Most organizations have expertise in producing and selling their products; however if the manufactured goods are not delivered at the right time and businesses lack warehousing competencies, it causes a blot on the business. Warehousing infrastructure also requires significant capital expenditure; therefore, businesses need the expertise to solve this and other bigger problems related to the supply chain. Logistic companies come into play to help businesses to offer holistic warehousing and distribution and willingness to invest in infrastructure development.

The uses mentioned above are at the rim of the basket; there are many other benefits of having better logistics and warehousing infrastructure to make the supply chain more streamlined.

Here are more advantages of using efficient warehouses to ensure a smooth supply chain:

Warehouses are Key to Effective Logistics

Warehouse offers a platform where companies organize their goods and create a systematic supply chain, whether it is about dispatching large-scale raw material or small-scale doorstep deliveries. Every product dispatched from the warehouse must be in perfect shape so that delivery is executed correctly. The warehouse is a crucial link between the overall supply chain, and without its proper planning for capacities, firms could fail and incur heavy costs for not being able to arrange raw materials or inability to serve their consumers.

Now that the warehousing services can be outsourced to a third-party logistics partner, organizations can control their inventory better through improved visibility and traceability across their supply chain. They know which inventory units are about to face shortages due to rising inventory pressures and understand which department or product is nearing its expiry date. These clear indications help businesses tweak their capacities and capabilities and ensure that any negative impact is mitigated promptly without sustaining any losses. Such decisions can help companies sustain their business for the long run and manage it efficiently. Taking the correct decision for warehousing helps businesses maintain their supply chain and enables smooth distribution, transportation, and production.

To know more - https://katalysttech.com/blog/warehousing-plays-pivotal-role-in-supply-chain-management/

The online marketplace is a massive sector, making it obvious why it has become a hot topic. The global eCommerce sales were approximately 3.5 trillion dollars in 2019, indicating that the novel business marketplace is increasingly becoming a profitable alternative for the enterprise.

The sales increased from 2014 to 2017 by an average of 25.6 per cent per year, and in the coming decades, it is anticipated to provide even more promising solutions and undergo a transformation that will change enterprises can’t even imagine.

In the current blog, we will look at some of the hottest trends for 2022 and understand major significant changes in eCommerce.

Let us have a look at them:

Augmented Reality Boots Online Shopping:

Augmented reality (AR) has emerged as a complete game-changer for eCommerce. The technology lets shoppers visualize the item they are shopping for, which further helps them make an informed decision when heading to the final payment gateway. It alters ones’ experience and has shown impressive results in specific industries, such as fashion and home décor. By using the new-age solution, these industries are able to provide a better feel for the item purchased without seeing it in person. Gartner had already predicted that the 100 million consumers would shop using AR technology by 2020, and the pandemic further drove this claim. According to the Gartner poll, 35 per cent of people have said that they would be more interested in shopping online only if they could get to try on a product virtually before heading for the final payment. 22 per cent of buyers have said they would be more interested in visiting a brick-mortar store only if AR was available in the stores.

To know more - https://katalysttech.com/blog/top-5-trends-reshaping-digital-ecommerce-in-the-coming-decade/

The US consumers’ spending on eCommerce is expected to hit a record $1 trillion, all thanks to the pandemic-driven shift to online shopping this year, as per Adobe Analytics. The forecast anticipates jumps of 13 per cent from 2021, following total spending of $1.7 trillion over the period of two years of the COVID-19 crisis, starting March 2020.

Consequently, the retail sector has been enjoying some of its rosy results in the past couple of years. Walmart has already recorded the strongest first-quarter sales in its history, with its US sales rising 6 per cent year-over-year. This can be partly attributed to people standing stimulus checks but also was connected to the retailer’s eCommerce success. Walmart has reported online sales rose by 37 per cent YoY and more than doubled over the last two years. This indicates that retailers must step up to the challenge and not just support online sales but also embrace emerging technologies to create connections with customers and make their journey more convenient.

Let us look at the various new trends in eCommerce that helps digitally native to thrive in the ever-evolving landscape:

The Rise of Other Trending Product Categories

Ecommerce during the initial outbreak of the pandemic thrived because people had no other choice barring online shopping. The stores were closed, and shoppers’ fear of contracting the pandemic accelerated the use of virtual platforms, and this phenomenon continued into 2021 until vaccines became widely available. Additionally, consumer demands for goods surged, with consumers spending their stimulus checks and reallocating their expenditure on travelling and other leisure activities, such as restaurants, home repairs, furnishings, and many other items. This led to a massive shift in the products people shop for and altered consumer behavior, and finances caused massive shifts in digital commerce by category.

According to Adobe, online grocery sales increased 103 per cent year-over-year in 2020, where US consumers spent around $73.7 billion online. Shoppers kept up that pace in 2021 and spent $79.2 billion on online groceries, up by 7.2 per cent compared with 2020. Consumers prefer to spend an average of $6.7 billion online each month for groceries, increasing from $3.1 billion pre-pandemic. According to the reports by Adobe, this category was purchased to remain at the top with a whopping $85 billion in 2022.

To know more - https://katalysttech.com/blog/digital-commerce-solutions-fitting-into-post-pandemic-era/

In the last couple of decades, logistics have undergone tremendous changes, from an entire operational and manual function for reporting, storing, manufacturing, delivering, and many other aspects of the business. It has now transformed into the most efficient aspect of the business that focuses more on the production supply.

The base for supply chain management has shifted to planning sources, including analytical demand planning or integrated S&OP. Many companies have the most established business processes, while operational logistics are many times outsourced to third-party LSPs. The supply chain function ensures integrated operations from customers to suppliers. The latest advancements in technology have compelled eCommerce businesses to rethink how they design their supply chain. New-age solutions and customer expectations are frequently changing the online marketplace and its landscape. On top of it is the need to adopt digital supply chains to expand the horizon of operational effectiveness.

Several megatrends have had an influence on supply chain management, such as wealth shifting to areas that have not been served, pressure to reduce carbon footprint, regulation for socioeconomic challenges, and many more. The changing demographics have also impacted the logistics issues and led to reduced labor availability with increased ergonomic requirements that arise as the workforce age increases. The growing customer expectations indicate better services combined with stronger granularization of orders, personalization, and customization that drive businesses to compel online firms to move towards supply chain management. Besides, the online-enabled transparency and ease of to access multiple shopping and product options drives businesses to gain an edge in supply chain management. These changes also suggest that the need become faster, more granular, and more precise to cope with changing requirements.

The digitized supply chain enables online companies to address the new requirements put forth by customers challenges businesses face and efficiently helps meet expectations. Digitization helps bring about changes in the supply chain, and in the pointers below, we shall explain how proper supply change management can transform your business.

Here are a few ways digitized supply chain can revolutionize business models:

Faster Delivery

New approaches of product distribution reduce delivery time as the basis of these services is built on advanced forecasting approaches, such as predictive analytics for internal and external trends and data. In fact, in the future, the world will witness "predictive shopping", a concept which Amazon hold the patent for, enabling companies to ship product even before the customer places an order. The customer order will be later dispatched with a shipment that will already be in the logistics network, and the shipment will be rerouted to the exact customer destination.

To know more - https://katalysttechnologies.medium.com/digital-supply-chains-streamlines-entire-business-processes-bee9371052c5