It’s been said time and time again that digitization within the supply chain is critical to success, and that point has been proven throughout the COVID-19 pandemic amid rapidly changing shopper demands.
Many apparel retailers couldn’t react quickly enough to the decreased need for product, and as a result, lost millions in revenue, all while having an overabundance of merchandise lying in stores and warehouses for months on end. And on the supply side, manufacturers and suppliers were forced to eat the costs of deferred or even cancelled payments, straining the relationship altogether.
As companies seek to improve communication across all stakeholders within the supply chain and gain access to as much real-time data as possible, Suuchi has made it a goal to eliminate supply chain siloes by offering a GRID module that encourages communication and collaboration across all international borders and skillsets.
“It really starts by having everybody digitized. All of the participants at corporate, agents, consultants, factories and suppliers—all have a seat at the table,” said Suuchi Ramesh, CEO and founder of Suuchi, Inc. “When they’re all conversing with each other across the length and breadth of the supply chain and you can empower them to do that fast, that is the foundation off of which everything else can be built.”
Watch the discussion between Ramesh and Caletha Crawford, publisher of Sourcing Journal, to learn:
- Why digitizing all supply chain participants delivers the quickest time to value
- Three main priorities retailers have when pivoting to supply chain digitization
- How companies can remove friction in the supply chain partner vetting process
- Three parameters retailers must account for when onboarding new factories
- Why inventory optimization starts upstream