On the 15th of December 2021, Vaidya Aiyer, CEO of Pillir had a post published on Forbes about how inventory visibility is helping the “Everything Shortage”. In the post, Vaidya began by mentioning that supply chain delays put a damper on festive shopping, however, many retailers are already combatting this by storing inventory data in their enterprise resource planning (ERP) software that could help ease any buyers’ predicted purchasing woes.
Aiyer then followed up with a personal example that includes his teenage son, whom he notes is at an age where all of his clothes get small in the blink of an eye. He mentioned that his son needed replacement clothing just before his school band concert. Aiyer initially figured that because they’re quick shoppers, it wouldn’t be a problem, but this couldn’t be further from the truth.
It turned into an event that began on a Friday evening at the nearest mall and led to a wild hunt to other nearby malls and multiple department stores throughout the weekend, and ending with Aiyer and his son just giving up and ordering what he needed on Amazon.
The sizes his son required simply weren’t available at any of the physical retail stores in their area and even after resigning to Amazon, it still took a further two hours to find an online vendor that could deliver it on time.
This is when the term “Everything shortage” hit home for him. A lack of inventory isn’t just hitting paper towel stalls, but also discretionary purchases like simple suites for a growing teenager.
As the article progressed, Vaidya mentioned that while supply-and-demand experts are currently trying to resolve this issue on a global scale, the bigger question is what can retailers and other industries do now to ease this problem. The vast majority of large enterprises make use of ERP systems to maintain inventory data, which could be leveraged to give buyers more insight into available inventory levels of a specific product type.
From a supply chain standpoint, this method might aid in the efficient movement of surplus inventory for any one product, allowing levels to be better managed across a range of goods. It may also aid in unclogging the flow of commodities and making supply chain planning procedures more efficient behind the scenes.
Using an ERP-specific, no-code platform to quickly produce the appropriate data views, which could then be supplied to the public, might be one approach to get this information in front of both consumers and other partners in the supply chain. There are various no-code platforms that can achieve this, and a good solution should be able to do it in a couple of days. However, measures must be taken in order to achieve this.
To find out more about Pillir, readers are invited to visit their website at the following URL: https://www.pillir.io
Release ID: 89059360