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Key Insights from NRF 2024: Navigating the Future of Retail

ToolsGroup

The curtains have closed on the National Retail Federation (NRF) 2024 Retail’s Big Show, and this year’s event has been extraordinary, with a record-breaking attendance of nearly 40,000 participants from around the globe. Retail shrink, an enduring issue within the industry, garnered a collective effort to surmount its detrimental effects.

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Key Tools and Technologies to Build the Warehouse of the Future

DELMIA Quintiq

billion by 2026. Predictive analytics, together with artificial intelligence (AI), can be very effective for recommending optimized inventory levels, replenishing inventory and increasing operational efficiency—as well as for warehouse optimization as a whole. billion in 2020 and is projected to reach USD $14.18

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Retail Apocalypse Predicted to Continue

Enterra Insights

An apocalypse is defined as an event involving destruction or damage on an awesome or catastrophic scale. Howland reports, “[UBS] analysts’ best case estimate is for 75,000 stores to collectively shutter by 2026, if e-commerce penetration rises from today’s 16% to 25%.” Footnotes. [1]

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The Role of Blockchain in SCM, with Examples

SCMDOJO

As per an estimate , in 2020, its worth was $253 million and predicted to grow up to $3,272 million in 2026. Efficient Inventory Management : Blockchain can be used to make a common and continuous perspective on stock across the inventory network. Predictions of rapid growth are made about this market.

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14 Logistics Trends for 2023: A Brave New World Has Arrived – Part I

American Global Logistics

And being able to track flows and unexpected disruptive events is mission critical. By 2026, Gartner estimates more than 75% of IT supply chain management companies will deliver advanced analytics (AA), artificial intelligence (AI), and data science solutions. Also, as with robotics (discussed below), the technology is available now.

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Only as Good as Your Data: Why Supply Chain Digital Twins Require Real-Time Data Unification

ToolsGroup

With the advent of true “single source of truth” inventory visibility , a digital twin is a more feasible goal than ever before. They ingest information like transportation plans or shipment delays and model the implications of unexpected events. Digital Twin Applications For instance, say you’re a manufacturer or distributor.

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The Biggest Manufacturing Industry Trends in 2022

Unleashed

While sustainability has been a trend for some years, the pandemic and an increasing number of extreme weather events have meant the issues at play have felt more urgent than ever before. Global contract manufacturing is forecast to grow at a CAGR of over 9% until 2026. They include: Industry 4.0: