Modex 2014 in Atlanta was a great opportunity to learn about all the updates, new trends, and topics being discussed in the supply chain industry.
A few weeks ago, I went to the Modex 2014 conference in Atlanta. It was a great opportunity to learn and get updates about trends and topics being discussed in the supply chain
industry. I must admit that even though I've been working in finance and marketing for the last four years, once I entered the venue, the engineer that lives in my head was extremely excited with what could be found there.
Modex 2014 was full of innovation. From robots to automated warehouses, you could see all the new technologies surrounding the supply chain industry. For us, it was very interesting to engage with participants and explain the value behind business intelligence for supply chain processes. Particularly taking into account the complexity and level of data analysis required by manufacturers, distributors, retailers, and all critical functions along the supply chain.
From the moment a customer makes an order, the supply chain
machine activates. It starts to compile information related to the order, including the number of items, the estimated shipping requirements, the billing details, etc. Then, an information flow starts and hopefully the order is fulfilled to the correct customer, at the correct time, in the correct quantities, and with the correct specifications.
After the order has been fulfilled, it's the best moment to extract valuable information out of thousands of orders performed during a given time. This data crunching process is a great way to understand the market demand and expectations. It also enables better planning and higher levels of order fulfillment and compliance. From a personal perspective, it was very impressive to see how Omni Channel Order Fulfillment was a recurring discussion topic in the different sessions I attended at the event, particularly explaining the challenges of data integration between different platforms (ERP, SCM, WMS, OMS, etc.).
At the TARGIT booth, were able to demonstrate how Business Intelligence
is the perfect complement to any of the data sources in the industry. Particularly when it's used as a way to cross-analyze information from different sources to find true business insights.
For example, one of the most interesting insights I heard was that 41% of e-commerce revenue comes from 8% of online customers who are subscribed to auto-purchases. A company that's not capable of integrating their Web Analytics with their WMS or OMS would not materialize an efficient planning process for subscribed customers. The only way to take action to improve is by knowing who they are, what they buy, and what their buying specifications are, while also integrating that information with existing inventory, procurement forecast, and customer service, among others. That's when an integrated solution like TARGIT adds value.
Overall, it was a great show and a great opportunity to see how businesses are becoming more data driven, particularly as supply chain processes become more and more complex. Clearly, supply chain businesses that adapt to technology changes are the only ones guaranteed to achieve success.