Fulfillment IQ Interviews Deposco CEO Bill Gibson on the eCom Logistics Podcast
It’s not enough to focus on solving today’s problems; we have to look to the future. By the time we’ve perfected anything, the goalpost moves a little farther out. There’s new technology to adopt and new best practices to deploy in an engaging conversation with Fulfillment IQ’s Ninaad Acharya, CEO and Harshida Acharya, CSO.
The duo recently interviewed our CEO Bill Gibson on the gamut of topics for their eCom Logistics Podcast. They covered everything from the importance of real-time operations to the integration of advanced technologies like AI.
The conversation lays out a roadmap invaluable to any supply chain professional struggling to navigate the rapidly changing market and the uncertainties in serving it. Here’s where you can listen to the full episode:
Is your peak season strategy ready to handle the storm, or just crossing fingers?
From the show, here are the big-ticket items that any fulfillment leader needs to focus on to be successful.
Early market gaps
In the mid-2000s, as cloud computing started gaining traction, there was a noticeable lack of cloud-based supply chain solutions. Despite the rise of ecommerce and the emergence of early movers like Amazon, many brands needed help with operational aspects.
There was an apparent lack of solutions focused on addressing omnichannel natively. The preceding generation had bolt-ons and modules, forcing retail fulfillment-focused solutions to serve an Internet customer base.
Fulfillment leaders who want to succeed today and in the future need to think about what they really need—or what their customers are demanding—and seek partners who are focused on that.
Stop trying to force yesterday’s tools to solve tomorrow’s problems.
Focus on 3PLs and adaptability
A significant shift in the market has been increased focus toward Third-Party Logistics (3PLs). As brands increasingly faced challenges in managing their operations, the need for dedicated business partners specialized in fulfillment became apparent.
Previously, these were off-site storage. They often managed multiple clients and required solutions that could handle diverse needs. This adaptability was – and still is – crucial for providing efficient and effective services to their clients and ensuring pallet in, pallet out.
The modern 3PL provides storage, replenishment, order management, and direct-to-consumer (DTC) services. They must ensure smooth operations across various channels.
In that light, their available software was just as limiting as retailers. The need for dynamic, adaptable, and configurable 3PL solutions became evident, focusing on a full network view of inventory and efficient demand fulfillment.
Results include 77% faster order processing times, 86% reduction in billing time, and new client onboarding in 2 hours.
Real-time operations and democratization
Real-time execution is no longer a luxury but table stakes.
Traditional batch processing methods do not meet the real-time demands of modern customers, and supply chains that rely on them are falling behind. Continuous adaptation in the operations space and the need to democratize supply chain solutions to all parts of the business—not just traditional DCs and FCs—have meant previously niche solutions need to serve all users.
By making these real-time solutions accessible to all businesses (not just those with enterprise-sized budgets), Deposco empowers companies with efficient and effective operations, regardless of their scale.
Related: OMS and 5-year impact of legacy systems on mid-market firms
Future trends and AI integration
AI and machine learning is poised to revolutionize supply chain management.
While many are focused on predicting future trends, understanding what will not change is vital. Core business needs such as value, service, and selection will always be relevant. What is changing is the data, speed, and computational power available on demand.
By integrating AI into fulfillment operations, companies enhance the decision-making processes and achieve better outcomes. AI provides actionable recommendations, helping businesses navigate complex challenges with greater ease.
Reid Bishop discusses what key roles in the supply chain need from AI: Executives, Operations, and IT/Security.
The guiding star must be fundamentals. As long as businesses treat AI as another exceptionally powerful tool for servicing customers, its positive impact on logistics will be guaranteed.
Peak season preparation and challenges
Peak seasons present unique business challenges, and preparation is critical to successfully navigating these periods. Many companies believe they are prepared for each peak season, only to realize gaps in their peak planning when the time comes.
Forward-looking planning and continuous improvement are essential to ensuring customer satisfaction and smooth operations. Additionally, forecasting requires consistent reevaluation of new information on both the short—and long-term horizons.
Last year’s XX% increase isn’t going to cut it.
Real-time data integration plays a critical role in this process, enabling businesses to adapt quickly to changing circumstances. What will separate the winners from losers? The sharing of information between internal and external systems to coordinate owned and accessible inventory.
Customer-centric approach and brand loyalty
In the omnichannel era, aligning brand promises across all facets of the business is more important than ever. Loyalty is down, and it’s easier than ever to switch to another provider if you don’t feel you got the service you deserved.
If you aren’t organizing your supply chain for your customers, they won’t be your customers for very long.
Previously, the supply chain was often in “Respond-and-get-it-done” mode, but that’s not enough for a modern, fast-moving operation. A customer-centric approach, where logistics and supply chain leadership sit at the table, is crucial to great decision-making. Businesses can maintain customer loyalty and satisfaction by ensuring that the brand’s promise is consistently delivered. This applies to the solutions provider and the supply chains that leverage them.
Meet the challenge or get replaced.
Where to find the eCom Logistics podcast
Go deeper on these topics: Read more and listen to the full episode of the eCom Logistics Podcast.
Ninaad also did a great follow-on post on this topic:
“Peak Season 2024: Optimized Solutions for 3PLs and Retailers”
These topics are critical for businesses aiming to thrive in a dynamic environment. By focusing on core business needs, customer expectations, and brand promise alignment, your company can navigate uncertainty and achieve long-term success.