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For retailers , this means that the goods ordered in anticipation of the Christmas season need to be ordered earlier to compensate for longer shipping times . The risk is reputational damage and customer churn caused by stockouts and customer frustration .
Resiliency is key
Businesses need to leverage skills and technology to ensure that the supply chain is resistant and flexible enough to accommodate sudden change . In particular , the integration of predictive AI technology and automation into existing procurement and supply chain management systems has become an urgent need for businesses wanting to stay competitive , avoiding potential risk and deescalating a crisis before it impacts the bottom line .
While larger retailers may already be planning for next year ’ s holidays , it is imperative for all retailers to ensure they consider potential risks and amend their usual planning accordingly . Key dates such as Black Friday , Christmas , Boxing Day , and Valentine ’ s Day remain critical for driving sales and in today ’ s competitive environment , retailers must start planning earlier than ever to develop robust contingency plans .
Leveraging technology
Safeguarding the ability to meet customer demand and capitalize on these crucial shopping periods remains key for overall
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