In supply chain headlines
- Customer loyalty in 2024 driven by personalisation and rewards-based systems. Deloitte's recent 2024 Consumer Loyalty Survey found that 86% of respondents rank financial rewards and simplicity 'very important', while only 60% of consumers say they're satisfied with the level of customised experiences offered.
- Tech adoption in UK surging thanks to AI. 87% of business leaders are planning to increase investment in new technologies, with nearly two-thirds of enterprises listed AI as their top technology investment area. Read the full story.
- $3 billion to be awarded to US battery manufacturing sector. The US Energy Department plans to fund 25 battery manufacturing sector projects across 14 states in an effort to shift the supply chain away from China, writes Reuters.
How to implement a multichannel sales strategy
Expanding your reach to different sales channels means giving more customers the opportunity to buy from your business. But implementing a multichannel strategy can be expensive and risky if you don’t follow the right steps. Here are some best practices for implementing a multichannel approach.
1. Identify which channels suit your audience. Research your target audience to determine the most effective touchpoints, including social media platforms, physical stores, and online marketplaces.
2. Select your sales channels. Multichannel doesn’t just mean creating a Shopify, WooCommerce, or BigCommerce website. Consider social media marketplaces like Facebook, Instagram, and TikTok; online marketplaces like Amazon and Etsy; retail stores and pop-up shops; and alternative sales channels, such as email marketing or a mobile app.
3. Invest in multichannel software. To navigate the challenges of selling across multiple channels, you need to centralise sales and operations. Consider multichannel inventory management software, point-of-sale systems, and CRM systems to attain real-time data and keep the business running smoothly.
4. Ensure a seamless customer experience. Make sure your branding, pricing, promotions, and product availability is consistent across all your sales channels. This makes it easy for customers to move between touchpoints with less friction, reducing lost sales opportunities.
5. Integrate your campaigns. Run coordinated marketing campaigns between your different channels and use tools like Google Ads and Facebook Pixel to retarget customers that have interacted with your brand on any one of your channels.
The secret to sustainable manufacturing – meet Rain Yang
This week we're chatting with Rain Yang, Founder and CEO of WoodenAve – a wood veneers manufacturer based in Los Angeles. He spoke to us about the challenges of managing a sustainable supply chain, and how he overcame them. Here's his story.
In your own words, tell us about WoodenAve.
"We manufacture reconstituted wood veneers, offering an eco-friendly alternative to traditional wood products for furniture, cabinetry, and interior design industries. Our focus is on sustainability, and we’ve built a supply chain that reflects our commitment to responsible sourcing and efficient production."
What makes your company unique?
"We produce veneers using sustainably sourced wood from FSC-certified forests, repurposing it through innovative processes that mimic the look of rare, endangered wood species. This allows designers and manufacturers to achieve high-end finishes without harming old-growth forests."
What's been your biggest supply chain challenge so far?
"Navigating fluctuations in the availability and cost of raw materials, particularly sustainable wood, has been a challenge. As environmental regulations tighten, sourcing high-quality input materials that meet both sustainability standards and customer expectations can be difficult."
How did you deal with these difficulties?
"To address these challenges, we’ve diversified our raw material sourcing by working with multiple suppliers across regions, ensuring a stable and consistent supply. Additionally, we’ve invested heavily in production automation, which has allowed us to minimize waste and streamline manufacturing."
Could you share a piece of advice around building a sustainable supply chain?
"For manufacturers, moving towards sustainability doesn’t have to mean sacrificing efficiency. Focus on creating closed-loop systems, where waste from one process becomes input for another. Also, investing in sustainable materials early on can help secure better pricing and availability in the long term."
On the lighter side
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