Feedback
A pioneer B2B media and publication platform connecting with Fashion Brands & Retail in India
 

Digitization smoothening workflows across Indian retail

 

Digitization smoothening workflows across Indian retail

 

The pandemic has transformed work patterns across all industries in India. No industry has remained unaffected by the crisis; more so the retail industry. Overnight, Indian retailers were forced to redefine their supply chains as a contactless process. They had to move inventory from centralized warehouses to local stores, says a Economic Times report. Fashion retailers, in particular, had to pivot their entire operations to online platforms and transform their stores into micro-fulfillment centres.

This led to the rise of a new retail in India as the industry began to embrace new technologies. Retailers no longer rely on outdated data to predict future trends. They are adopting new tools like AI and machines to improve their relationships with suppliers. ServiceNow’s Now Platform helps these retailers maximize visibility across supply chain through intelligent workflows.

Ensures clarity of expectations

Retailers are benefiting from digitization as it helps them onboard new suppliers besides ensuring clarity of expectations in terms of product deliveries. Digitization also helps suppliers connect with vendors and monitor their performance regularly. This further helps control costs, alleviate risks, drive continuous improvement and boost customer satisfaction. Retailers can also measure the impact of vendors on their operations with information on service management information assessments and reports.

Rising consumer expectations has made it crucial for retailers to identify and mitigate pain points across supply chain. They need to be equipped to identify flaws immediately in supplies for downstream stakeholders to respond and front-end agents to access accurate information.

Reduction in production and supply costs

The pandemic has also reemphasized the importance of maintaining a healthy retail supply chain. Digitization can help retailers manage operational risks through only a clik of a button. Digitization has helped ServiceNow customers reduce production and supply chains costs by around 10-20 per cent. Retailers have been able to reduce their working capital costs by around 15 per cent while increasing revenues by 6 per cent. They are reporting more inclusive growth by enrolling kiranas and MSMEs into their supply chain. ServiceNow’s industry-wide digital transformation helps these retailers smoothen their workflows across India.

LATEST TOP NEWS
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

India’s garment industry hit hard by second COVID wave: CMAI

India’s garment industry hit hard by second COVID wave: CMAI

    The Indian apparel industry, which was on a path to recovery since the beginning of this year, has being hit once more by the second COVID-19 wave. A survey conducted... Read more

COVID-19 suspends Amazon’s Prime Day sale

   The second COVID-19 wave has led to suspension of Amazon’s annual Prime Day sale in India. Along with Google and other Indian firms, Amazon has come forward to help India... Read more

Fashion retailers seek rental rebates

Fashion retailers seek rental rebates

     Fashion retailers are seeking rental rebates from high-street landlords and shopping malls as the COVID-19 pandemic continues to play havoc with their businesses. As per Money Control report, Benetton India... Read more

Conscious consumption drives launch of new sustainable collections in India

Conscious consumption drives launch of new sustainable collections in India

    The pandemic has caused some attitudinal change amongst Indian consumers. From racing to acquire latest fashion trends, they are now emphasizing on slow consumption. Growing popularity of plant fiber collections This is... Read more

E-tailers launch new solutions for sellers impacted by COVID-led disruptions

E-tailers launch new solutions for sellers impacted by COVID-led disruptions

     E-tailers are introducing new solutions for sellers suffering from pandemic-led effects. Startup Dealshare is doubling its pace of transforming business in small towns to online platforms. This helps the company... Read more

Apparel brands launch new initiatives, collections to attract customers

Apparel brands launch new initiatives, collections to attract customers

     To attract consumers, apparel and lifestyle brands have introduced a clutch of initiatives besides launching new comfortable clothing ranges and expanding online presence Label Ritu Kumar which has launched ‘Label... Read more

India’s menswear market a $34 billion opportunity for brands

India’s menswear market a $34 billion opportunity for brands

    Earlier restricted to staple products like jeans and polo shirts, Indian menswear market is currently bigger than women’s wear says a Vogue Business report. It’s estimated at $26 billion and... Read more

Fashion brands donate proceeds to COVID-19 relief

Fashion brands donate proceeds to COVID-19 relief

     To help India through its second COVID-19 wave, many fashion brands are offering their proceeds to NGOs supporting the cause. As per a Desi Blitz report, global sculptural design jewelry... Read more

Rents in India’s most iconic retail hubs decline

Rents in India’s most iconic retail hubs decline

     A study by Anarock Retail of average rentals of iconic retail hubs reveals a 17 per cent drop in rents for India’s most expensive retail real estate, the Khan Market... Read more

Promotions take backseat as brands focus on socially relevant ad campaigns

Promotions take backseat as brands focus on socially relevant ad campaigns

    The advertising world is changing with brands replacing product promotions with COVID-19 related content and messages on their social media handles reports Economic Times. Clothing brand United Colors of Benetton... Read more

MOST POPULAR NEWS
Go to top

Follow Us On:

Face BookDealersForYou

TWDFUpublications

LNDFUpublications

YouTubeDFUpublications

 Copyright © 2020 DFU Publications. All rights reserved.