Kiran Kumar, VP - Supply Chain, WOW Skin Science stated that WOW Skin Science had always been a technologically driven company. Being a D2C brand and a lean organization, it relied heavily on technology to take the business forward. The same continues when it comes to supply chain management. One of the things that makes the system successful is advanced data analytics. Data is crucial for businesses; and in the supply chain system, the quantum of data could be overwhelming and difficult to decipher.
“AI, machine learning, and IoT will drive the next phase of development in supply chain management. One thing to watch out for is digital supply chain management with IoT. It will help businesses to automate processes and reduce labor costs. IoT-based supply chain will give an organization a real-time view of how the systems function and how the processes move,” he added.
Overcoming Supply Chain Issues
Changing consumer attitudes and the current volatility of the market are the two main challenges that WOW Skin Science faces in terms of SCM. Consumers have become highly demanding, and their preferences change almost on a daily basis. “We find that on some days, certain sets of products are in high demand, which can fall from consumer favor within a few weeks or even days. So, being extremely agile is important. We also focus a lot on customer relationship management,” he asserted.