Friday in 5 – interesting news from around the supply chain landscape, served up in one spot to keep you up to date. This week: how drug companies are experimenting with Blockchain technology; the evolution of Rent the Runway’s business model; how Amway’s digitalization efforts are resulting in a superior customer experience; a deep dive into America’s online shopping habit; and the impact of supply constraints on the services sector.
Drug Companies Consider Blockchain for the Supply Chain
New regulations that are set to go into effect in 2019 are forcing pharmaceutical companies to reevaluate their supply chains. In Under Pressure to Tighten Supply Chain, Drug Companies Look to Blockchain, The Wall Street Journal reports on how some companies are experimenting with Blockchain technology to track product provenance, tampering, and more.
Rent the Runway Now Offering Logistics Tools to Luxury Fashion Brands
No longer just an evening-wear rental company, Rent the Runway extends logistics tools to luxury fashion brands. Fast Company reports on the retailer’s transformation, expanding beyond evening wear to include a broad range of clothes and accessories. It has also built a platform for managing its inventory, same-day delivery and dry-cleaning services and is now lending these logistics capabilities to luxury fashion brands.
Delivering a Superior Customer Experience
Supply Chain Digital takes a look at how multi-billion dollar organization Amway has standardized its warehouse operations and increased order fulfillment effectiveness in its article, Amway executes digital transformation with JDA Software. The company-wide digitalization efforts span the globe and have resulted in a superior customer experience.
More Than 90% of America’s Online Shoppers Have Bought from Amazon
NPR looks at recent e-commerce data in its report, What Americans Told Us About Online Shopping Says A Lot About Amazon. According to the data, most of America’s online shoppers have bought from Amazon. Yet, while e-commerce continues to grow, only about 10 percent of shopping dollars are spent online. The article also explores which products are likely to be purchased online, and of those, whether shoppers are likely to shop with Amazon or another online retailer.
Delayed Deliveries Cause Headaches for Businesses in the Services Sector
Truck driver shortage and slow rail service are behind delayed supply deliveries to the services industry, reports The Wall Street Journal in Services Sector Businesses Are Struggling to Get Supplies They Need. The supply constraints make it a challenge for some businesses to get the resources they need to stay on schedule. Price increases could be on the horizon if order backlogs continue for an extended period of time.