The boom in ecommerce, particularly after the emergence of the novel coronavirus, has impacted the alcohol industry in a major way. Ecommerce alcohol sales in April 2020 went up by six times, if you compare it to 2019 sales, reported Nielson data, and the trend remained in the following months.
For the alcohol industry, this certainly poses new opportunities, but they come with several challenges. To meet the demand for alcohol accurately, it is important that manufacturers use data insights to manufacture the correct units of alcohol but also deliver them at the right time.
Let us take some ways how predictive logistics with the help of business intelligence software can benefit alcohol delivery.
The Effect of Logistic Software on the Alcohol Industry
The alcohol industry is particularly dependent on supply chain and logistics technology. That’s because holidays like New Year’s Eve, Fourth of July, and St. Patrick’s Day require certain levels of alcohol to be manufactured and delivered. For humans, it is next to impossible to calculate each and every factor when it comes to how much alcohol needs to be delivered on any given day.
Thanks to cutting edge business intelligence software, however, alcohol manufacturers do not just focus on manufacturing but also have the data to consider the transportation, distribution, and other variables that are used to make an estimate.
To stay ahead of the competition, companies need to create lean budgets, meaning that no surplus or shortage of alcohol is experienced. Businesses that do not have intuitive AI-based software will continue to face various challenges, including difficulty in finding high-quality products at the lowest price and not having good inventory management software.
Predictive Logistics Technology for Alcohol Delivery
Since the nature of the supply chain is very sensitive, the alcohol industry cannot ignore the importance of finding the right logistics technology. The best software tools will ensure the following things:
Although there are many companies that push generic commercial solutions, you need software that is appropriate for your industry. Whatever technological solution you need, it needs to be able to integrate with the existing software that you are using. Otherwise, you will have to spend tens of thousands of dollars doing a complete overhaul of all your processes.
Integration is extremely important since it prevents issues like filling up your database with irrelevant silos of information that cannot be used. It should also be able to integrate with your logistics software you use; otherwise, you will face complications like getting delayed information that your distributors have not been alerted of an incoming shipment.
Predictive Analysis and AI
The alcohol industry is also seeing the increasing use of business artificial intelligence and predictive analysis. This software can save a lot of time and money for companies by making the most use of historical data and predicting when supplies need to be ordered. This type of software can also find out when the prices of any given supply are at their lowest, which results in lower production costs.
As cloud-based technology becomes more inexpensive, cloud computing will become a large factor in alcohol delivery. This technology can be integrated into existing processes and mobile apps, allowing high-powered computational tasks to be done.
Supply chain technology is currently being revolutionized by new industry trends, including the ones in the alcohol industry so that businesses can optimize their systems and processes for the future. Now is the best time to create yourself as a leader in the supply chain and logistics industry.