Is your supply chain ready to fulfill customer expectations in peak season?
Benchmark reveals confidence levels in existing systems and offers strategies to simplify growth
Deposco, the omnichannel fulfillment supply chain solutions platform for brand owners, retailers, ecommerce, and 3PL companies today launched a “Peak Season Performance Quiz,” to provide retailers with mid-season benchmarks and best practices for improving the performance of their supply chains both this Peak Season and beyond. The assessment grades companies based on three ‘pillars of readiness’ that are crucial to long-term growth: preparation, agility, and efficiency.
Click here to take the quiz now.
“We wanted to give businesses a mid-peak season check-in for an honest assessment of how they’re executing and how preparations that were made–or weren’t made–are impacting current performance,” said Michael Johnson, Vice President of Business Consulting, Deposco. “All of our Peak Season data and research reveals that the cost of ‘getting it wrong’ is only getting higher, which makes data-driven preparation and smart, quick-to-value investments even more important.”
In September, Deposco released “Navigating Peak Season 2023: North American Supply Chain Leaders’ Top Strategies & Priorities,” the findings from a July 2023 survey of retailers, wholesalers, and 3PL/4PL firms regarding their top challenges, priorities, and predictions for Peak Season 2023. The survey found insights from more than 350 US and European supply chain executives.
Supply chain operators who take the assessment will receive a ‘grade’ and detailed recommendations based on their inputs, broken down into three areas, along with tips on which warehouse management metrics and KPIs to watch:
- Preparation: Are the right key performance indicators (KPIs) in place to ensure that the right products are in the right place at precisely the right time? Specifically:
Forecast Accuracy, Stockouts, Supplier Lead Times, and Fill Rates
- Agility: Are systems integrated and automated appropriately to create an agile supply chain network, deliver value by reducing manual work, and make efficient, data-driven decisions? These KPIs include:Cost-per-Order, Order to Delivery Cycle Time, Order Entry Time, and System Uptime
- Efficiency: Can the warehouse truly operate as the nerve center of the supply chain? This requires real-time inventory tracking and data analytics with actionable information to help ensure both speed and accuracy – necessary components of a successful customer-centric supply chain during Peak Season. KPIs include:Order Accuracy, Inventory Turns, and Lead Time Accuracy
“Digitizing peak season is the future–one that most retailers, wholesalers, and 3PL/4PL firms are embracing to manage the realities of peak season,” continued Johnson. “The vast majority of respondents indicated that investing in a modern warehouse management system (WMS) or order management system (OMS) is the key to peak-season profitability: 92% declare that these solutions will prepare their warehouse operations to be more profitable during peak season. Of this group, 70% plan to invest in WMS or OMS solutions this year.”
Deposco’s Bright Suite omnichannel platform is the first to unite order orchestration, warehouse management, demand planning, supply planning, and omnichannel fulfillment through a single view of demand against real-time physical inventory execution everywhere. The platform is designed for B2B and DTC (Direct-to-Consumer) brands that need to scale sales and operations but have not had the right tools to optimize their financial, operational, and service metrics.
Deposco’s Bright Suite of omnichannel fulfillment supply chain applications enable fast-growing companies to rapidly scale their warehouse management and order management operations. Bright Suite helps Deposco customers see what inventory they’ve got, where it is, and where to position it to fulfill demand when It’s Grow Time™. It’s the only solution that provides this much actionable insight into both your supply chain and the broader marketplace. Deposco makes supply chain fulfillment simple, fast, and always forward. Visit Deposco.com