Insights: Creating a compelling customer experience through improved inventory efficiency

Consumers today expect an exceptional customer experience, whether in store or online.

Technology has enabled increasingly personalised interaction between retailers and online suppliers. This has ultimately affected the way in which companies operate. With the rapid development of technology, consumers today want products and services that are high quality, easy to access and delivered in less time.

Technology, in particular RFID (radio frequency identification) has allowed companies like Macy’s, Jetstar and Zara to close the gap between improving inventory efficiency, meeting the demands of their customers and delivering high quality products and services. As a result, these companies have managed to reduce inventory and distribution costs as well as product maintenance efficiency, and positively transform the customer experience.

“It’s time to think differently – about new and creative ways technology and data can be used rather than traditional a traditional approach of using these resources to minimise costs. It’s time to focus on the customer and create a compelling in-store and online experience.” Angela Spowart – Partner, Grant Thornton