How to Power Demand-Driven Planning and Replenishment With Blockchain

Omnichain Solutions in the News: In retail, profitability is all about positioning the right product in the right place, at the right time. But with the rising number of digital marketplaces, fluctuating consumer demand and the proliferation of SKUs, it has become increasingly difficult for businesses to accurately forecast, plan and replenish inventory. Too little inventory inevitably leads to lost sales and unhappy customers, while excess results in poor turnover and high carrying costs.

In these hyper-complex supply chains, there is often a disconnect between suppliers, manufacturers, warehouses and retail channels as products pass through a complicated chain of technology and distribution networks. Siloed information at each level results in inadequate data transparency, making it difficult for businesses to take a proactive approach to inventory planning and demand forecasting. Without true visibility, they respond reactively to replenishment, creating supply and demand imbalances upstream and downstream in the supply chain.

These imbalances result in greater costs and lower profits due to inaccurate replenishment, excess channel inventory, poor turnover, increased markdowns and out-of-stock items. To overcome these challenges, companies need a holistic view of the demand landscape and value chain. Some may utilize enterprise resource planning (ERP) systems to try and manage production and inventory. However, 80% of in-market ERP solutions only provide warehouse-level planning. The other 20% do not incorporate store-level demand.

Instead, companies need a solution that connects all channels and bridges the gap between suppliers, manufacturers, vendors and retailers. True data transparency from source to shelf can be achieved through Blockchain technology. 

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