Chris Newbery, Industry Consultant Retail/CPG EMEA at Teradata shares supply chain predictions for 2022.
“The biggest surprise this year has been how hard the supply chain challenges have hit retailers and CPG’s. Although very hard to manage and account for, it does highlight the urgent need for more real-time capabilities down to individual SKU and store level, to drive improved early warning signals, and help mitigate the ‘just in time’ delivery challenges. The more you see, the more you know, and the more you know, the sooner and quicker you can do something to adjust your plans and reduce the risk of lost sales.”
“Physical supply chain challenges, such as shipping port congestion and lorry driver shortages, as well as consumer demand as they change their minds, change the channels they use to shop and expect a high level of responsiveness, are likely to continue into 2022. Covid-19 magnified these issues causing sudden sharp shocks, and we’ll continue to feel the aftershocks for some time, but it’s likely we’ll see other global disruptions such as trade wars, and more local disruptions too. Consequently, we need to find a way of managing the new normal, which is constant disruption.”
“We need near real time visibility of what is happening, both within our physical supply chain and with consumer demand at a granular level, and we need to be able to understand why those things are happening, identifying the drivers of changes. Once we have identified the drivers we can then watch them to start to predict what is going to happen, rather than what is happening, through the service. service or experience. Through the application of technology, ultimately we can better understand the drivers as well as quickly resolve opportunities and challenges”
Teradata is a connected multi-cloud data platform company for enterprise analytics that delivers actionable answers and predictive intelligence. Teradata gives the flexibility to handle the data workloads of today — making data easier to consume everywhere, with no added risk. Their open approach embraces the modern ecosystem to create a seamless experience for ingestion, exploration, development, and operationalisation. They have created a path to analytics in the cloud at scale at the lowest risk.
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Rebecca Morpeth Spayne,
Editor, International Trade Magazine
Tel: +44 (0) 1622 823 922
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