The relationship between supplier and customer is critical to both parties. But it most often falls on the customer to manage that relationship because while the supplier has plenty at stake, the customer has their own customers to consider. And if the product being delivered to the end customer falls short of expectation in any way, the customer will be the first to feel the impact. Supplier relationship management (SRM) is no longer just a ‘feel good’ part of the business. It’s critical and is being treated as such, and automated to a large extent. Having fast and accurate evaluation of supplier performance and acting in positive ways to either assure stability or taking quick action to avoid problems needs to be at the top of the list for companies that want to assure the best results for their own customers Here are four areas to pay attention to when managing the SRM.

reverse logistics minThe retail industry faces a growing challenge in managing the billions of products consumers return every year. These returns can result in both financial losses as well as potential negative environmental impact such as waste. With the increase in online shopping, return rates have increased exponentially. As painful as it is for retailers, returns have been absorbed as a cost of doing business and until recently, the environmental impacts have been ignored.

blockchain08According to recent financial technology (FinTech) industry data, “billions of dollars have been poured into blockchain companies” as of September 2017, with initial coin offerings or token sales climbing to roughly $2 billion compared to just $256 million in 2016. Private investments into blockchain companies exceeded $4.5 billion from Q1 through Q3 of 2017—including the $3.6 billion acquisition of Canadian FinTech firm DH Corporation by Austin-based Vista Equity Partners and more than 150 additional blockchain transactions totaling $965 million—versus the $624 million raised over the same period last year.(1)

omnichannel shoppingThe 2017 holiday season saw a significant increase in shopping, with nearly 80% of U.S. holiday shoppers buying gifts from Amazon, more than any other top retailer. Feeling the pressure to stay ahead of Amazon, many retailers began holiday promotions in early November but this approach can backfire.

holiday sales strategy 1Consumers are continually increasing their holiday spending budgets year-over-year. With more sales opportunities than ever before, can your business handle the influx of orders, customers, and shipments? Here are 7 things your business can start doing now to prepare for the holiday rush.

supply chain 4.0Transacting business in the supply chain generally means communicating orders via EDI formatted files or some other equally rigid set of rules. The reasons are easy to understand; order times are critical and specifications for orders are complex so their formats need to adhere to formats that can be instantly read by computerized systems.

online shopping cover photoEarly results from 2017 holiday shopping show big increases in spending. As of this writing brick and mortar results are still preliminary with Cyber Monday and weekend online purchases still not tallied. But a survey conducted by Voxware indicates this year’s shoppers have higher expectations than in previous years. And they want flawless delivery in record times. Will the increased activity and inflated expectations dampen shoppers’ confidence in online ordering when they count on expeditious delivery the most?

call centerDid you know that 82% of consumers have stopped doing business with a company after they’ve experienced poor customer service? That’s not hard to imagine. We’ve all been customers who have called a company for help, only to be put on hold or talked to someone unwilling to find the answers we needed. Conversely, we’ve all talked to a call center representative who was cheerful and effective. When we hung up, we were ready to move forward with our day.

tesla semi 1This week Tesla announced its new line of Tesla Semi electric trucks. The company does an interesting job of reverse-hype in the ‘promise less / deliver more’ kind of way and according to those attending the event this introduction was no exception. Semis are the mainstay of logistics company around the world and while it’s too soon to know how big an impact Tesla’s all-electric vehicles will have, it’s safe to say they will change the vehicle industry. But will it make any noticeable changes to the supply chain?

logisticsAccording to Gartner, one of the world’s top business research firms, the global logistics software market is growing at a faster rate with each passing year. Just take a look at the numbers: from 2012 to 2013, the supply chain management (SCM) software market grew by 7.3% to $8.96 billion. In 2014, it grew by 10.8% to $9.92 billion.