As a premier analytics solutions provider, Quantzig has helped leading businesses tackle the disruptions in the current business milieu. As a part of its continued efforts, Quantzig today announced the completion of its latest purchase order flow management engagement. During the course of this engagement, Quantzig successfully collaborated with an online electronics retailer who was facing challenges in ensuring faster deliveries, resulting in a significant decrease in the overall revenue.
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Order Fulfillment Optimization: Value Proposition (Graphic: Business Wire)
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From managing the performance of the sales force and improving the ability to process more loads to utilizing the optimal technologies, organizations, especially in the e-commerce sector, have a number of challenges to overcome while optimizing their order fulfillment processes. Though the increased customer preference towards e-commerce helps the online retail industry improve revenues, the rising demand for faster deliveries makes it extremely difficult for players in this market space to provide a better experience for the customers. With the intensifying competition and high demand, the failure to make faster deliveries will result in a significant decrease in an organization’s revenue shares. By providing effective insights, Quantzig’s order fulfillment optimization solution helps businesses make better decisions and also aids in improving various business processes including supply chain visibility and merchandising.
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Order Fulfillment Optimization Engagement Overview
To help the electronics retailer deliver better customer experience through faster fulfillment of online orders, a team of supply chain analytics experts with significant experience in offering insights through similar order fulfillment optimization assignments, offered an effective solution to reduce the delivery time and deliver a better experience for loyal customers. By developing a random forest decision tree based approach, this order fulfillment optimization solution also helped identify the influencing factors for customer ratings in each segment and also approximated a cost function to recognize the right store to fulfill the order. Additionally, by analyzing the factorial combinations resulting in good reviews, we built a classifier that also helped identify orders to be fulfilled from the stores.
The order fulfillment optimization solutions provided benefits that helped the client to:
- Reduce shipping costs for priority orders by 51%
- Reduce delivery time by 80% ( from 5 days to 1 day)
- Identify the right route and mode of delivery for each order
- Request a FREE demo to gain a limited-period free license to access to our supply chain analytics platform.
According to the supply chain analytics experts at Quantzig, “Our purchase order management solutions empower businesses to manage the complete purchase order life-cycle, right from creation through approval and delivery.”
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal