“Supply always comes on the heels of demand,” said Robert Collier.
It’s no secret that goods and services offered in the global market are what enable our day-to-day functioning. From grocery and furniture to technical equipment and professional services, the interplay of demand and supply prevails at every level. While availing of the products and services offered, one seldom considers the tedious and lengthy supply process involved in fulfilling customer demands. While the basic structure of the closely integrated supply chain remains the same, the process has also gone through a number of changes over the span of the past century, owing to large-scale technical advancements. In such a scenario, should rule-based supply chain tasks such as payment processing, barcode verification and transportation, hold the supply industry back?
We’re back with a blog, and today, let’s look at some ways in which RPA can transform the face of the supply chain industry:
When the process of shipping has become so much easier, why should shipment tracking continue to be old-school? It’s not uncommon for customers to demand constant updates on the whereabouts of their shipped or to-be-shipped products. However, one seldom considers the monotony involved on the other side of the communication process. In order to track the shipping status of a product, the employee manually checks the request mails and enters each tracking code into the ERP software; and then reports back to the concerned customer with the shipping status. Enter, the age of RPA, where your process bot not only satisfies the customer by providing the accurate shipping status, but also relieves the overworked employee and paves way for more productive activities.
With the advent of online retail websites and virtual, efficient modes of transaction, placing orders has become extremely customer-friendly. However, it is also important to ensure that this ease of transaction holds good at both ends of the business. While a lot of leading retailers have managed to install relevant software to process and confirm orders, it is unfortunate that some of them continue to adhere to age-old manual transaction systems. With RPA, retailers can automate a host of extremely repetitive transaction-related processes! These include processing orders, sending confirmation mails/messages, and back-office tasks such as data entry and certain customer-service processes.
Communication is an inseparable aspect of business. However, certain aspects of professional communication, such as sending automated emails and messages, can be repetitive and monotonous. And so, automating these processes can relieve the employees of manually sending out the same communication to a hundred different customers; and instead, focus on enhancing their communication skills in order to uplift their business.
4. NECESSITY IS THE MOTHER OF INVENTION…BUT MONOTONY IS THE BARRIER TO INTERVENTION
Throughout history, innumerable inventions and discoveries have emerged owing to the ever-growing demands of the human race. As a result, we have been able to progress to unprecedented heights, and achieve seemingly impossible endeavours. With invention, it is also important to keep track of the manufacturing process in order to ensure that there is enough supply in proportion to the demand. RPA helps employees by alerting retailers when the stock for a particular product diminishes. In this way, RPA has made the inventory management domain extremely efficient and profitable.
5. THE ‘DEMAND-SUPPLY’ DYNAMICS…
Needless to say, supply of any product or service is directly proportional to its demand. Thus, it follows that for any retailer, it is of paramount importance to possess a thorough understanding of the market, along with the latest trends in consumer demands. The collection of data for this process can be tedious and time-consuming; and thus, tends to bog down retailers with monotonous tasks. Advancements in data science and machine learning have improved this situation to a great extent, by predicting consumption patterns of customers, and accordingly providing relevant recommendations pertaining to the same. Thus, retailers now typically spend much lesser time in deciphering consumer patterns and making predictions.
6. NOW, SUPPLY CAN BE DRIVEN BY SELF-DRIVING VEHICLES!
Last, but not the least, RPA can do wonders in product transportation. From transporting raw materials from one industry to another, to delivering the finished products to the market or directly to the customer, the transport system literally forms the backbone of the supply chain. However, the drivers of these vehicles are often subjected to long hours of travel, often without any respite. Self-driving vehicles can ensure efficient supply of the products, while also eliminating the hectic schedules of those involved in the process.
Besides the above listed processes, RPA and AI can also bring about a world of change in the supply chain in terms of automating a host of other business processes, including vendor management, supplier performance management, logistics operations, distribution and sourcing.
As long as there is demand, there will be supply. And this permanence of the supply industry makes it all the more a good candidate for RPA.