Like other industries, the wholesale supply chain sector is undergoing massive changes. The rise of online wholesalers means having the products customers want exactly when they want them is more important than ever.
National Association of Wholesaler-Distributors (NAW) released the State of Wholesale Supply Chain report, which asked NAW SmartBrief subscribers about key initiatives regarding inventory and supply chain planning operations in 2018. This report outlines what leading-edge companies are doing to compete in today's ultra-competitive landscape, and provides some tips on how to tweak inventory optimization operations.
Key findings of the study include:
- Increasingly complex demand patterns are causing firms to hold more inventories, but that's not translating into increased customer service.
- Many companies continue to struggle with how to forecast and manage promotions.
- Forecasting techniques most commonly used by wholesalers are often outdated and lack integration of more advanced data analytics.
- Wholesalers and distributors continue to struggle with cross-departmental collaboration.