Industry 4.0
Vol. 4 (2019), Issue 3, pg(s) 124-127

The hyper-personalized supply chains

Abstract

Today’s customer has more choices than ever. Customers always have had high expectations about what is in the items they buy. This desire for clarity has heightened the need for supply chains to provide more, and more granular, content. To succeed in today’s business environment, companies need to meet consumer demand for in-depth product information across a variety of shopping channels, with greater specificity, than in the past. Excellence in business is driven by consistent information. Today technology and innovation enable a much closer connection between the buyer and seller, paving new paths for experience and sales. Using them to build the hyperpersonalized supply chain that delivers exactly what the customer wants, when, where and how they want it will become the paradigm of modern supply chain management. Personalization (creating a progressively better customer experience by using technology and data to meet and anticipate its needs in a way that makes their interactions easier) is a growing challenge, particularly for supply chains strongly influenced by global competitors. Personalization is fueled by new technologies and new data sources, all leading to more impactful customers insights. In this paper we will examine how personalization today is not only a strategic imperative for companies, but also for their supply chain partners in order to reach better profitability and increased customer lifetime value.

Keywords

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