The sum of all the experiences customers have with a supplier of goods or services over the duration of their relationship with that supplier is critical for the perspective of the supply chain, according to Banks. “In retail to be good is to be above average in 2015, because retail is a very prominent market where the winners win quickly,” he explained.Ĭustomer experience has the capability to transform the value chain This approach of marrying the supply chain and customer service will offer a notable opportunity in the retail sector. Work up from useful to enjoyable, rather than the other way around, recommended Banks. In today's modern economy, OEMs should keep it simple for customers, and focus on a handful of value drivers: “Change your supply chain, but not every five minutes,” he added.ĭesigning supply chain and value exchange in this new economy Organizations must adapt to the customer by offering personalization of products and services, but it's also critical to remain true to the organization, said Banks. Customers are giving their trust, time, data, and money to organizations. In the post-industrial society, old models don't work anymore. “The connection between people and people, and people and things, is a new kind of revolution,” said Banks. With the advent of the Internet, mobile technologies, and social media, the customer stopped being observer, and started to become the center of a new business model. Product personalization and change in the supply chain The customer's journeys matters in the here and now.Embrace new customer expectations, focus on customer needs, but keep it simple.Adapt to it, but stay true the organizations intent. Banks highlighted and illustrated three simple points in his presentation: Now, it is time for another kind of revolution, a revolution that places the customer at the center of attention of the supply chain. We have seen industries evolving through process automation in factories and increasing levels of data efficiency. In a rapidly changing business world, supply chains need to adapt to the customer Sometimes, it only takes time yet, change is inevitable, and you have to change, explained Banks in an excerpt from the presentation below. This same concept can be applied to brands, to companies, and to supply chains. “In nature, it is not the strongest species the one that survives, nor the most intelligent, but the one most responsive to change,” said Matthew Banks, vice president and global lead, Customer Experience Management at Oracle, during his presentation at the recent Oracle Cloud Day Helsinki, Finland. Although change doesn't have to be immediate, but it must comprise every aspect of the supply chain to be effective.Ĭhange is constant, and the way that organizations respond to it shapes the future of the organization. Rather, the organization must make change happen. Supply chains can't wait for things to change.
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