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Episode 9: Digital Transformation Series: Future State Scenarios Enabling Growth (Part 3)




Announcer: Welcome to this episode of “60-second Retail” - a BDO podcast keeping you in-the-know on events and trends in retail and consumer products industry impacting your bottom line, in just a few short minutes.

Natalie: Hello, my name is Natalie Kotlyar, I am the National Leader for the Retail and Consumer Products industry group at BDO USA.  In this episode, part of our Digital Transformation series, we are speaking with Robert Brown, Managing Director and Client Executive at BDO USA, to get his take on future state scenarios enabled by technology.

What are the future state scenarios and technologies that will enable new growth opportunities?

Robert: When we talk about future state scenarios, we're really talking about business models. How will retailers, in many cases, be forced to change the way they conduct their business?
So certainly, we look at the supply chain and really now with technology, we look at the digital supply chain of how products are sourced and provided to the customers that are going to be buying from them.

We hear a lot about services like 3PL, third party logistic services. Many of these services have made many companies successful, Amazon is an example, in the way that they provide the opportunity to buy what they want on 1-click and expect that product is delivered the next day.
Retailers going forward, need to think about how efficiently they can utilize some of these 3rd party services that are available to them, to change their digital supply chain.  And most importantly, connect their digital experience that sits online, that’s their E Commerce storefront with that supply chain.

That gives them the efficiencies, when they say I want to buy this product from you, I get it the next day or as quickly as possible.  Not 4 to 6 weeks after they might purchase that product, so that keeps them competitive; changes the way they conduct their business.

 

Natalie: Tell us a little bit more about the digital supply chain in the omnichannel experience.

Robert: The digital supply chain can mean a number of different things to a number of different retailers in terms of the products and services that they offer – the small sort of form factor products or large footprint products that are available.

The supply chain has to be engineered to accommodate the ability to generate the order, but also fulfill that order.  And if we're dealing with larger form factor products, we have to think about distribution centers in places or locations in order to optimize shipping costs and availability to the customers.

When we look at the supply chain, we have the need to assess how product will be purchased, where they will be shipped to, and really engineering the technologies that quickly fulfill those and make them efficient in terms of how they conduct business on a go forward basis.

 

Natalie: Great. Thank you, Robert. We look forward to continuing the discussion in future segments on the importance of digital transformation in the retail industry.

Announcer: And that concludes this episode of BDO’s “60-second Retail” podcast.  Don’t forget to tune in for the next episode!  To find more information on our hosts, guests, BDO’s services, or listen to previous episodes of “60-second Retail”, please visit www.bdo.com/60-second-retail.
 

 
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