Suchit Sikaria, Chief Business Officer (D2C), SUGAR Cosmetics said that an effective supply chain is essential for the beauty sector to maintain a competitive edge and effectively manage retailer demands while also overcoming the numerous supply and demand-related issues. SUGAR has recently adopted a new technology that is used by brands like Amazon in their warehouses. This technology speeds up the process of in-warding, storing stock, and keeping track of the stock available, considerably.
“This year will be a crucial one for all retailers as they work to keep on top of the delivery and supply chain trends. At SUGAR, our primary goal is to keep up with our omnichannel approach, while also evolving and experimenting with new technology. Some of the key upcoming supply chain trends that we will see would be digital transformation adapting new technology, diversification of delivery partners, and forecasting inventory and delivery needs,” she highlighted.
The supply chain is a crucial part of any business. Here are some of the key practices that have helped SUGAR maintain efficiency and serve its customers.
Structuring a Proper Supply Chain – For the smooth functioning of the Supply Chain, a company needs to have a solid structure in place that acts as the foundation for future processes.
Efficient Teams to Forecast Demand – Forecasting demand is essential for companies to make sure that their warehouses are stocked accurately.
Optimal Utilization of Technology – Using technology in supply chain management can give the brands a competitive advantage over others in their industry.