In 2018, eight out of ten shoppers were unlikely to shop again with a vendor after a poor delivery experience and 90% expect a full refund for late deliveries. As consumer expectations continue to grow how are retailers keeping up?
By 2017, businesses in the United States were spending $1.5 trillion on shipping and logistics, up 6% from 2016. During this same time, e-commerce sales, time-sensitive freight volume, and US imports also increased, furthering the pressure. When considering solutions, smart business leaders focus on tools that manage profit margins while also reducing operating costs – easier said than done. Yet with certain AI tools designed to predict market demand, adjust inventory accordingly, and maximize shipping logistics, this system of central intelligence builds enough synergy to solve system-wide issues. In 2017, a study showed that 71% of retailers found it beneficial for their business to share order data, like shipping and delivery, across all departments.
To help meet the expectations of consumers while also maintaining high efficiency, retailers begin turning to AI to manage supply chains. See what it has to offer businesses, detailed in this infographic.