Today, retailers are finding challenges in every link of the supply chain: making the right planning and sourcing decisions, managing inventory, handling logistics, fulfilling orders in a timely manner, dealing with pricing fluctuations, and hiring and retaining workers. While some disruptions are out of their hands (such as container ships getting stuck in the Suez Canal), retail leaders are looking for ways to gain more control of their supply chains.
Data is an important element in creating that resilience. Data can reveal what’s happening at every step of the chain, from product development to sales, and the location of issues or bottlenecks. Third-party data can tell you what outside factors may affect production, warehousing, and order fulfillment.