Evolving Business Landscape and Logistics Imperative

Khushi Agarwal | roll no- 479 | E div | group 1

As the world moves towards stability, businesses worldwide have started analyzing this new landscape to apply the lessons learnt from the pandemic.

The supply chain systems all round the world have disrupted in ways we couldn't have imagined in the past 2 years. The way things are manufactured, the way we shop, the way we work, the way our economy functions and the way our mind is always skeptical has been redefined which has brought in significant changes in our lives

A major shift towards online shops and ecommerce is being witnessed right from covid-19.

The E-commerce Logistics market was expanding at an HCAGR of 12.8% from 2018 to 2022. This industry was worth US$ 531.6 billion in 2022.

Omnichannel fulfillment is the process of picking, packing and shipping orders that are sold across multiple stores, online marketplaces and sales channels. These strategies aim to provide an integrated and seamless experience for customers across multiple channels.

One of the most complex difficulty faced under this strategy is inventory management. Real time accurate visibility of inventory is essential. The next step is routing the order through the most suitable fulfillment stores for faster and efficient delivery.

Another problem is customers expectation of a super quick delivery. In today's time, Amazon provides the fastest delivery due to its vast distribution network and supply chain. Through achieving economies of scale, they have made it possible to deliver orders at the max within 2 days in any part of the world. Other Ecommerce platforms are trying their best to reach that level of logistical success. Order fulfillment speed, returns and reverse logistics, scalability and flexibility, technology integration and customer relationship management are all different complexities that should be overcome.

Implementing effective omnichannel fulfillment strategy needs proper planning, robust technological infrastructure, and efficient operational capacity. Retailers must consider these logistical complexities to provide a seamless and consistent customer experience.

However efficient last-mile delivery plays a critical role in the success of omnichannel fulfillment strategy. It has a significant impact on customer satisfaction and loyalty. The goal of superior last-mile delivery is to enable every delivery to reach its destination every time, on time, efficiently, accurately and sustainably. It is often the last interaction customers have with the retailer, therefore it has to be ensured that the delivered goods are in good condition just the way the customer hoped for it.

Retailers need to invest in technology, infrastructure and partnerships to optimise their last-mile delivery operations and meet customer expectations for speed, convenience and reliability.