With shoppers finding much of what they want online, the future of the brick-and-mortar store can seem bleak. Such major retailers as J.C. Penney, Lowe’s, Gap and Family Dollar, among many others, have announced plans to close at least some stores across the United States this year.
Have you told your friends that this is the year you’re going to start your holiday shopping early? Chances are you made this same vow last year, the year before, and possibly even the year before that – only to wait until the last minute to pick up presents for your friends and family. With trade wars looming it may actually be beneficial to start your shopping now – as businesses predict steep prices for the holiday season. The products that will be affected are those manufactured and shipped from China. Included in those products are everything from toys and apparel to electronics.
Without capitalizing on modern technology, the supply chain is inefficient and a company unable to compete favorably. It can even be worse with rising consumer demands and expectations. With increased awareness among the consumers, there is demand for faster turnarounds. As such, the industry requires Artificial Intelligence (AI) to improve visibility and facilitate efficiency. AI is changing various things in the supply chain.
- Most read