In today's marketplace, not only is the Amazon Effect in full force — requiring rapid deliveries and quick, data-driven decisions — but disruption abounds.
Our manufacturing clients have really embraced the power of AI during the last year. From improved forecast accuracy that affects inventory levels, to working more openly with changing customer needs and the overall customer experience, they are already in the effects of using this data.
If you cannot provide rapid, customized service with easy returns and 'extra value', you will be left in the dust. The needs aren't going away. If anything, Amazon continues to raise the bar.
According to a recent project44 report, 94% of business purchasers surveyed expect the same level of customer satisfaction from a business transaction as they do when making a personal purchase. These expectations revolve around “low-cost, fast and highly transparent delivery of goods.”
There is extreme volatility in today’s end-to-end supply chain. To be successful, you need a resilient supply chain. Are you keeping up with all the changes?
As I meet with countless CEOs and P&L leaders at clients, via connections, at speeches etc., I pay attention to what is top of mind. Strategy is always top of mind for the most successful business leaders!
The Amazon Effect remains top of mind with CEOs. Whether they compete directly (which is less than 1% with my clients), supply or distribute for Amazon (which is a slightly higher percentage) or are just impacted by the Amazon Effect, it is a major source of concern and/or opportunity.
According to CFO Magazine, Amazon's profit doubled to a record $3.6 billion in the first quarter yet reported its lowest growth rate in quarterly revenue since 2015.