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Poor inventory processes and lack of systems integration causing overstocks, out-of-stocks and needless returns are to primarily blame for $1.75 trillion in retailer losses worldwide. Personnel issues are the third component of the inefficiencies.
Retailers and consumer packaged goods manufacturers are spending great sums of money, energy and time on their omnichannel sales operations, but only 16 percent of companies said they can fulfill omnichannel demand profitably.
Getting goods from point A to point B in an omnichannel environment has become a daunting challenge for retailers. They recognize the complexity and are investing to keep pace, but most still rely on outdated tools and ineffective processes to manage the end-to-end value chain.
The labor dispute involving West Coast dockworkers that stalled international trade at 29 ports that handle an estimated $1 trillion in cargo annually was tentatively resolved with a new five-year contract proposed on Friday, but many challenges remain.
For years 3D printing has largely been a novelty, a niche experiment for churning out cheap plastic toys. But as 2015 kicks off, 3D printing looks to be on the rise and how retailers react to the way it changes their industry could define whether it's a blessing or a curse.