The Record - Issue 15: Winter 2019

105 the available inventory levels in every location across the supply chain to determine where it should be fulfilled,” says Berkovitz. “For exam- ple, if a customer has selected same-day shipping and they live two kilometres from a store that has their desired product in stock, the order will be fulfilled there, rather than at a warehouse 200 miles away. This allows retailers to fulfil orders from multiple inventory sources to expedite delivery to the customer, while avoiding stock depletion and stockouts.” By implementing a DOM, retailers can meet customer demands for expedited shipping times and cut order fulfilment costs. “Retailers were concerned that fulfilling orders from different channels and offering shorter shipping times would be too expensive, but they’re finding that it’s bringing long-term costs down,” says Berkovitz. “This is because the prod- uct doesn’t sit in the retailer’s store or warehouse for as long. Plus, DOMs consolidate multi-item orders so they can all be fulfilled from one single location, rather in multiple shipments.” Building an omnichannel environment with a DOM should be a top priority for every retailer, says Berkovitz. “Historically, retailers could plan everything two or three years ahead and serve almost everyone via the same channel, but now that market trends and customer expectations evolve so quickly, they need to be more flexible and agile than ever before,” he explains. “By adopting DOM plat- forms with tools like data analytics, artificial intel- ligence and machine learning, they can accurately predict product demand and market trends and then optimise everything from demand planning to order fulfilment and customer engagement. Their chosen solution should also empower them to rapidly scale their operations according to changes in product demand throughout the year.” Berkovitz advises that retailers implement these solutions sooner rather than later if they want to remain competitive. “The modern retail world is evolving so quickly that retailers can’t wait for two years to find that perfect piece of software like they did in the past,” he explains. “They must act now and choose a solution that will take them most of the way towards achieving their core business goals within the shortest possible timeframe.That way they can use these new capabilities to instantly improve the customer experience, but still continue to refine the solution in the background until they’ve fully achieved their business goals. All they need to do is ensure that they’re implementing their chosen solution for the right reason – which should be to improve the customer experience – and the oper- ational and cost benefits will soon follow.” Partnering with an expert software provider like Tecsys can also help. “We have solutions for dig- itising and optimising everything from demand planning, to order fulfilment, delivery manage- ment, analytics and much more,” says Berkovitz. “We aim to provide retailers with an end-to-end solution that gives them complete control over their operations and empowers them to deliver a shopping experience that excites their customers, while driving business growth.”  R E TA I L & HOS P I TA L I T Y

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