The Millennial generation is said to be re-shaping the way that consumers shop, as their familiarity with the internet and graphical user interfaces (GUIs) means that they are in tune with visual marketing and are able to perform computerised tasks with ease. With new search and payment technologies now making it very easy to make online purchases, how will this new generation affect supply chains going forward?
Who Are They?
Millennials are those who reached young adulthood at the turn of the 21st century. This group of individuals came of age around the Millennium era when the world was full of technology, electronics and social networks.
Keeping Up With the Challenges of the 21st Century
Businesses quickly realised that what used to keep them going before the Millennium was no longer enough to keep their companies afloat. As manufacturing has evolved in recent years, companies have embraced this new challenge by changing with it. Supply Chain Insights is dedicated to helping businesses better understand supply chain excellence, and with its methodology leading businesses towards an even more dynamic future, it suggests outsourcing and reconsidering applications that were once used to manage their supply chains.
Companies such as Duffy Discount, who provide a range of shelving, pallet racking and storage solutions (https://www.rackzone.ie/pallet-racking) have moved with the times and already reaped the benefits. With consumers aware that they can find great deals online, companies are no longer exclusively shipping goods to larger retail stores. Thanks to a modern website and interface, online retailers are able to sell a range of second-hand goods such as used pallet racking, as well as new shelving products. Though patience is a virtue, people don’t seem to have time to wait in this modern era so companies have had to implement even faster shipping methods to their distribution procedures.
Are We Looking at Further Changes?
With Millennials reported to be an optimistic generation with somewhat unrealistic expectations, companies have really had to up their game to attempt to satisfy their expectations. Yet, manufacturers and retailers remain positive as they grow and innovate in response to the ever-changing market. The increase in the usage of predictive analytics will no doubt play a major role in the future of business supply chains, as will updated supply chain management software.