Blockchain and Automation Revolutionizing Supply Chains
Have you ever wondered why your online orders took longer than expected to arrive? Or where do the goods you order come from? Shipment delays affect customer retention heavily. According to a report, 69 percent of customers are less likely to purchase from a retailer if their item is not delivered on time. As per an estimate (numbers may vary by industry), businesses spend anywhere between five to twenty-five times more to acquire a new customer than retaining an existing one. Shipment delay is one of the many factors contributing to the supply chain inefficiencies globally. In a typical supply chain, there are more than 40 points of contact between different entities.