As we enter the age of Industry 4.0, organisations need to digitise many aspects of their supply chain operations. The implementation of new digital technologies will facilitate the creation of a connected, smart and highly efficient supply chain. According to PwC, the aim of digitisation is to transform the supply chain of today from “a series of largely discrete, siloed steps” into “a completely integrated ecosystem that is fully transparent to all the players involved”. Check out our dedicated infographic to learn more about what digitised supply chains will look like in Industry 4.0.
Thinking of starting an online drop shipping business? Read our guide to find out everything you need to know…
What is Drop Shipping?
Drop shipping is a supply chain management method in which a retailer does not keep inventory but instead assigns the fulfilment of customer orders to a third party wholesaler or manufacturer. When a customer makes a purchase, the dropship supplier will ship the order directly to the customer in the retailer’s name.
As a result of the Brexit vote, there has been a lot of political uncertainty. This has led to a major reduction in consumer confidence. With the unwinding of currency hedging, the cost of goods bought overseas has become much more expensive. Retailers will now have to decide whether they should increase prices or absorb the loss into their margins. In the future, significant concerns for retailers will be:
In years gone by, consumers shopped in their local shops and even when online shopping became available, many people felt uncomfortable giving their personal information to online stores and using their credit cards. However, that has now changed.
Ecommerce In A Digital Age