Three Tips To Improve Your Retail Supply Chain From Shoptalk 2023
Shoptalk 2023, one of the biggest events in the retail space, recently concluded in Las Vegas — bringing together supply chain professionals, executives, and industry experts from across the globe to discuss the future of retail and e-commerce. The event showcased the latest technologies, trends, and strategies that are transforming the supply chain landscape, making it more resilient, efficient, and sustainable.
If you couldn’t make it or simply want a refresh, we narrowed down our top three takeaways as well as why Shoptalk is such an important event for retailers and supply chain professionals alike.
1. Build a resilient global supply chain with scalable technology
One of the main themes of Shoptalk 2023 was building resilience in global supply chains. The pandemic exposed the vulnerabilities global supply chains are susceptible to, and retailers are investing heavily in making their supply chains more flexible and adaptable. Leaders from Amazon, Puma, and E. & J. Gallo Winery, all shared that they’re using logistics technology to enable resilient supply chains — including leveraging returns to stand out from competitors.
Flock’s technology is one such solution that utilizes a patented algorithm to find and fill a truck’s empty spaces by matching locations, schedules, and compatible shipments, to create the best options to pool freight among billions of possible combinations.
2. Utilize convenient and cost-effective F&D options
Another important theme of Shoptalk 2023 was implementing convenient and cost-effective fulfillment and delivery options. Consumers are increasingly looking for ways to save, and retailers are providing options that give consumers the convenient shopping experience they want while preserving, or even increasing margins.A way to do this is by utilizing shared truckloads (STL) — allowing you to reduce damages by bypassing terminals, avoiding any surprise fees after delivery, and saving up to 20% by only paying for the space you use.
3. Make sustainability a strategic differentiator
Since the pandemic, leading brands and retailers have already rethought their supply chains and are investing in the skillsets, technologies, and partnerships that enable them to get materials and products where they need to go — both downstream and upstream. Becoming a more sustainable business in that process is often viewed as a cost driver, adding overhead that either pushes up product prices or eats into the bottom line. However, it doesn't have to be a zero-sum game. Retail and brand executives shared how they’ve improved their companies' sustainability efforts while also making their supply chains more efficient. For example, shipping shared truckload reduces empty truck space, and in turn, slashes greenhouse emissions by up to 40%.
Why Shoptalk is an important event for supply chain professionals
Shoptalk brings retailers big and small together and provides a platform for supply chain professionals to network with industry experts and peers, exchange ideas, and stay up-to-date with the latest trends and technologies. It also showcases the best practices and success stories of leading retailers and brands, giving supply chain professionals insights into what works and what doesn't. By fostering collaboration between retailers, brands, and solution providers, Shoptalk enables supply chain professionals to explore new solutions and partnerships that can help them improve their supply chains. We’re looking forward to the next edition of Shoptalk and the exciting developments it will bring to the retail industry.And if you’re looking for more ways to optimize your retail supply chain, book a demo to see how Flock Freight can work for you.
