Digital transformation remains a top priority for supply chain leaders today and that importance was evident in discussions and sessions at the recent retailX conference. Historically, digital transformation in retail has been focused on transforming customer access, the digital storefront and e-commerce, but the challenges resulting from COVID-19 have precipitated digital transformation in the supply chain itself.
Retail consultant Tyler Higgins, speaking at a retailX session, explained how the pandemic’s disruption has led to a number of key adaptations by supply chain leaders, such as sourcing from multiple vendors, expanding critical inventory, seeking strong partnerships for more resiliency and implementing a faster onboarding process for new vendors.
Higgins also identified five driving priorities resulting from COVID-19’s impact:
- Digitization – empowering decisions using data and technology
- Agility – turning vendor relationships into partnerships
- Flexibility – multi-sourcing from across the globe
- Innovative Fulfillment – leveraging the omni-channel environment
- Strategic Input – elevating the role of supply chain leaders
Digimarc and its partners WestRock and Avery Dennison also addressed the topic of digitization and the supply chain. Digimarc’s Phil Stafford, along with Julie Vargas from Avery Dennison and John Dwyer from WestRock, gave a presentation in the WestRock booth titled, “Retail and Connected Supply Chain.” Watch the full presentation:
Discover how Digimarc Watermarks are transforming the modern supply chain.