Retail Logistics Empowered by Teknowlogi
The retail logistics sector has evolved much the last 12 months. In fact, more than it has in the previous three to five years. This comes from the progression of online retail also coupled with consumers’ want-it-now mentality. It has made retailers across the world looking for ways to improve their supply chains.
Starting today, Teknowlogi will share its latest technology innovations. It will also share this with attendees at the D3 Retail Supply Chain Summit in New York. Teknowlogi is the pioneer of the Logistics Expert System, or LES. It is the creator of Tai. Tai is also the industry’s only cloud-based solution built on artificial intelligence or AI.
Teknowlogi representatives were in Booth 1 throughout the conference. It also showcased how the Tai platform of solutions can help retailers. It helps with the most practical and relevant ways to stay ahead of industry evolutions. The Tai platform also includes a shipping marketplace and mobile app. Teknowlogi’s solutions help bring efficiency and automation to retail organizations. They can maximize productivity, improve operations, and also upgrade outdated “non-intelligent” technology.
“Economic factors, societal shifts, and changing consumer preferences and demands. Those are the parameters shape the retail environment.” That is what Spencer Askew, founder and CEO of Teknowlogi said. “Through technology, we create a path forward that will enable retailers to ‘live on.’ At Teknowlogi, we also develop innovative technologies that will give retailers key abilities. This allows companies to survive and thrive in our on-demand world.” These are also technologies with very practical applications for real-world business challenges.
Teknowlogi and Supply Chain and Retail Logistics Business Intelligence – D3 conference
New research indicates the need for solutions to address the on-demand consumer. The Retail Supply Chain Report examined retailer progression during the last 12 months. It recognized the improvement of their supply chains’ quality and velocity. Teknowlogi commissioned the report. Results from the study show a surprising find. Retailers are in dire need of practical, relevant ways to understand shopping behaviors. To predict them as well. They also want to do this while delivering an on-demand consumer experience.
Some of the Report’s Key Findings:
Only 17 percent of retailers say they have full visibility over their inventory. This also includes in stores, in transit and in returns. It uncovered one of the biggest variables that challenges inventory optimization and forecasting. The variable is end customers who have turned the retail marketplace on its head. They’ve gone mobile, they’ve demanded “now” delivery, and they also don’t want to pay much for it.
The top forces shaping retail distribution network design are:
- Origin of demand at 81 percent
- Cost at 77 percent
Network Design and Retail Logistics
Network design is an equation of weighing up cost versus origin of demand. It’s an ongoing process. It also needs to be often measured, strategized and readjusted. This needs to happen often since costs change and consumer expectations evolve.
Forty-six percent of retailers say that the customer experience, or CX, is crucial. It takes the main part in measuring supply chain performance and accountability. Also in 2016, the majority of retailers considered CX only a company goal. It had no formal measurement for its impact on supply chain performance. Fast forward to 2018. Now, respondents are also active in measuring its impact. They now use key indicators. These include:
- Customer Satisfaction (CSAT)
- Net Promoter Score (NPS)
- Customer Lifetime Value (CLTV)
“On-demand shipping is no longer nice to have; it’s expected,” Askew said. “To compete, it’s worthwhile for retailers to explore investing in innovative solutions. This drives more productivity into current business processes and software systems.”
Teknowlogi is also the Title Sponsor at the third annual D3 Retail Supply Chain Summit. Askew presented the session, “Simplifying Your Business with Applied Intelligence.” It took place at 9 a.m. on May 10 at the event.
Based in Atlanta, Teknowlogi is the pioneer of the Logistics Expert System (LES). It also offers a cloud-based solution that combines:
- transportation management systems
- mobile intelligence
- integration intelligence
- consulting intelligence
- business intelligence
- artificial intelligence
It does this also all in only one platform. It is the only technology company to offer this.
Then there’s also the affordable Tai solution. It can analyze millions of data variables in real-time. Also, it allows companies to enhance and change business processes. It does this within the complicated and multi-party global shipping and logistics industry. It addressing unmet needs in the market.
The Tai Mobile Intelligence app is also another industry first. It allows any segment within the logistics network to operate with the data. This way it can address all shipment lifecycle “hot points.” It also does this anytime, anywhere. Shippers can enjoy having an intelligent LES platform. These include:
- freight forwarders
- asset carriers
It’s easy to install, use, and upgrade. Even other logistics software companies can use this technology.
For more information, you can also visit www.teknowlogi.com. You can also follow us on LinkedIn and Twitter @Teknowlogi, and like us on Facebook. Here you can find out how to advance your logistics into the future.