Protect the Customer Experience
The end consumer is a core part of your supply chain, no matter if you sell B2B, B2C, or both. Data analytics can bring in the customer’s perspective, allowing you to improve their experience with your brand.
Protecting the customer starts with production-level data. When analytics improves your ability to reliably source materials and products, you’re a safer and more reliable supplier for customers. You can be the brand they turn to time and again, enhancing loyalty and lifetime value.
The shift from just-in-time to just-in-case inventory management also uses data to protect your customer experience. Predicting demand curves and planning for longer lead times enables companies to shore up or reduce stock, as necessary. Surviving in troubled economic times often means slimming down goods that don’t sell as quickly or generate as high of margins.
Let data tell you when long-term storage pricing pushes your total landed cost for an SKU or order into negative territory.
If you’re working with a 3PL or have significant relationships with carriers, consider using your data to check their capabilities and customer satisfaction. This is like A/B testing you do in other areas, but it requires robust data management. You’re tracking customer complaints, returns, and replacements across many channels to see if delivery performance impacts satisfaction.
That’s a big lift, but eliminating a 1% or 2% return rate can become extremely valuable when you consider the costs of replacing goods, return shipping, labor spent on QA, repackaging costs, and more.