Forrester: CX Priorities Drive Traceability, Supply Chain Strategies
July 18, 2022
finds that digital transformation, sustainability initiatives, and
customer experience (CX) improvements are among the top priorities
driving the development of new corporate supply chain strategies.
While some companies are knee deep in their digital transformation efforts, those types of efforts are evolving for the current landscape. Companies are turning to traceability to enable new sustainability and visibility related CX initiatives. Sixty-two percent of respondents said they are using traceability data to improve the customer experience and products.
Traceability initiatives remedy counterfeiting and diversion.
Nearly half (47%) of respondents say their companies lose 11% to 60% of sales income each year due to counterfeiting, and 89% say grey market diversion is problematic for them. But the lack of clear ROI prevents 45% of respondents from implementing traceability and serialization, which can mitigate these challenges.
An enterprise’s success hinges on full supply chain visibility, swift product recalls, and better brand loyalty.
Seventy-nine percent of respondents said full visibility into where products are in the supply chain are critical or important to their company’s success, while 78% said the same for the ability to quickly recall the right products. In addition, 77% cited brand loyalty improvement through better product management.
“This study confirms that enterprises are experiencing how traceability
can nurture brand loyalty and optimize their supply chains, as well as
mitigate the impact of counterfeits in key markets, among other
Matt Fordenwalt, vice president and general
manager, systems & solutions, Rockwell Automation.
Bob Bova, President and CEO of AccuSpeechMobile added, "Counterfeiting products has become a major problem with the cause being a lack of supply. As organizations continue to digitize their supply chain operations with automation technologies, traceability becomes an important factor as these companies move forward with their initiatives."