E-Commerce: Thriving in the Supply Chain Revolution

Introduction

Welcome to the webinar series titled "How to Thrive in the Supply Chain Revolution." My name is Josh Inany, partner in charge of the Manufacturing and Distribution Group at Saks LLP. Saks is a multidisciplinary accounting, tax, and advisory firm headquartered in Clifton, New Jersey. The manufacturing and distribution industry is our biggest vertical. We are recognized as one of the top 10 fastest-growing firms in the country by Accounting Today and as a top five all-growth firm in the Northeast by Inside Public Accounting.

I have the pleasure of being joined by Sandy Bosque, founder and CEO of Advantage Technology Solutions, a leading technology provider in the warehouse and logistics industry. Sandy is also the co-founder of the Supply Chain Experts group, a tri-state networking group of individuals serving all aspects of the supply chain, designed to share industry knowledge and create opportunities for one another.

Overview

Ongoing technological advances and increasing customer demands are transforming the supply chain industry at an unprecedented pace. To thrive in this rapidly changing environment, your company needs to consider new and better ways to meet customer requirements and allocate the right people and resources quickly, efficiently, and profitably. Saks' Manufacturing and Distribution Practice has joined forces with Advantage Technology Solutions to provide essential insights from industry experts on technology and the supply chain revolution.

Speakers

I have the pleasure of being joined by Sandy Bosque and John Cosgrove. John is the founder and president of Atlantic Handling Systems, a leading materials handling solution provider with over 40 years of experience. He has served as the past president of the Material Handling Equipment Distributors Association. Sandy Bosque, as mentioned, is the founder and CEO of Advantage Technology Solutions, which works with supply chain companies to leverage technology, improving profitability, operational efficiency, and the ability to meet changing customer demands.

Introduction

Sandy underscores that we are living in an amazing time, a supply chain revolution driven by exponential growth in technology and e-commerce. There's no way to cover everything in e-commerce in a short webinar, but today's focus will be on people as the most critical factor, especially given the significant labor shortage in the supply chain industry.

Bob Biesterfeld, the new CEO of CH Robinson Worldwide, once stated, "Technology plays a huge part in our transformation, but our focus is not just on developing tech. It's on how we bring together innovation to improve processes and fuel our people so that they can focus on the meaningful work they want to do and add value to our clients and carriers."

E-Commerce Trends

E-commerce is experiencing exponential growth, with all regions showing significant increases. Projections suggest that within the next four years, China and the United States are expected to witness over 70% and 45% growth, respectively. This surge creates both opportunities and challenges for everyone in the industry.

Industry Impact

This paradigm shift impacts everything from orders, shipping, and returns, affecting every aspect of infrastructure and systems. Companies must consider their approach to order processing, integrating shopping carts, and managing carrier connections. The solutions often involve sophisticated middleware software to handle changes in rates, rules, and shipping options effectively.

Keys to Success

Great enterprise projects occasionally fail due to critical factors not being addressed. Successful projects require a comprehensive strategy encompassing the planning and execution stages and engaging a cross-functional team including IT, executive, and operations.

Industry Metrics

Standard industry metrics to measure success include on-time delivery, order accuracy, and profit realization. Metrics vary across companies but are crucial for assessing the return on investment.

Solutions from Experts

John Cosgrove elaborates on the integration of hardware components in a material handling system. A well-designed pick module combined with a strong warehouse management system enhances productivity and cost savings with increased accuracy. Picking the right kind of system is dependent on the industry and specific business requirements.

Hardware and Software Integration

Efficiently handling e-commerce orders often involves technologies such as pick modules, pick-to-light systems, and automated carton sealers. Each facility is unique and solutions need to be flexible to accommodate different warehouse designs and operational needs.

Conclusion

In summary, thriving in the supply chain revolution requires focusing on people, investing in technology, and strategically managing change. It is about enhancing both top-line and bottom-line performance through continuous improvement and intelligent investment in systems and processes.

Keywords:

Supply Chain Revolution
E-commerce
Technology Integration
Demand Management
Efficiency
Operational Improvement
Return on Investment
Material Handling Solutions
Cross-functional Teams
Warehouse Management
Industry Metrics

FAQ:

What is the main factor for success in the supply chain revolution?
- The primary factor for success is focusing on people. Investing in technology and strategically managing change while involving a cross-functional team is essential.
How do I keep up with changing customer demands in the e-commerce sector?
- Employ sophisticated middleware software to handle changes in rates, rules, and shipping options. Consider integrating advanced warehouse management systems and flexible material handling solutions.
What should my business prioritize to stay competitive?
- Begin with an assessment of current requirements and capabilities. Prioritize solutions that enhance order processing, reduce errors, and manage carrier connections effectively.
How can I measure the success of my supply chain improvements?
- Implement key performance indicators (KPIs) such as on-time delivery, order accuracy, and profit realization. These metrics will help track the effectiveness of your improvements.
How do I choose the right technology and hardware vendors?
- Start by thoroughly understanding your business requirements. Consult with experts to assess potential vendors and solutions that will address your specific needs efficiently.