Adapt or Die: How Supply Chains Are Changing to Meet New Consumer Demands
Technology and industry are progressing at a drastic rate. As the shape of commerce changes, supply chains will have to adapt or die. So what will this new and improved supply chain require for survival?
Commerce is making a shift toward being more and more consumer driven. In the digital age consumers can see all of the options available and they will begin to expect more and more customization. Due to this more personalized demand, the number of consumers is no longer a good enough metric to forecast demand. People want customized product and they want it at a moment’s notice.
In order to keep up with this new focus on personalized consumer demand, supply chain processes and technologies will need to work seamlessly to orchestrate and produce products that the consumer desires. What this means is that access to inventory must be flexible. The supply chain must be able to provide not only enough of the product, but also enough different versions of the product.
With this increase in production variable comes an increase in risk. It will be harder to estimate demand forecast error and will complicate the supply lead timelines. The supply chain will need risk mitigation policies for each new “what-if.”
One of the biggest risks here is that supply chain managers will not have funding solutions to keep up with this fluctuating demand. Curve Commercial provides alternatives to traditional funding options. Their TradeTermz program thrives in non-traditional and progressive supply chains because it guarantees that minor or major shifts in a supply chain will not affect a company’s bottom line in a negative way. TradeTermz accommodates the need for variable levels of inventory by allowing companies to purchase more inventory on a timely schedule with extended repayment plans.
In an era of industry where progress means your business has to adapt or die, it is vital to have a partner like Curve that can help you become as adaptive as possible.