"Many retailers continue to try to improve their existing business models rather than adapt to this new data-driven environment - this is the competency trap."
Professor Phil Greening
Industry expert Professor Phil Greening has joined the Board of Directors at imio Software Solutions, a UK-based software business specialising in warehousing and fulfilment.
Commenting on the warehousing and logistics landscape, Professor Greening said: “Retailers have spent lots of time, energy and training on improving their services, building customer loyalty and improving delivery times to stay competitive in the marketplace. However, for many their skillsets don’t include data, analytics, AI or data management.
“Retailers are reacting to the changing marketplace, rather than planning for the next technological innovation. Very few are utilising data effectively to organise their warehouse operations and drive buyers’ behaviour.
“Many retailers don’t believe there is a better way, they continue to try to improve their existing business models rather than adapt to this new data-driven environment - this is the competency trap. I predict those big retailers that have a wealth of data, but unfortunately aren’t using it effectively will be displaced in the next 10-15 years, if not sooner.
“As buying power starts to move back to the manufacturers, warehouse management technology needs to become more suited to smaller orders. The functionality and flexibility of software systems now has new business value for retailers. Retailers that can process data more intelligently, understand its value and leverage it, will not only survive but thrive in the future.”
Professor Greening is Deputy Director of the Centre of Sustainable Road Freight, with particular research interests including; complexity, supply chain risk, road freight, green logistics and computer modelling of complex systems.
David Carroll, Managing Director at imio Software Solutions said: “We’re already seeing the power of data, to discover patterns, interpret trends and improve performance. Industry 4.0 is revolutionising the sector, allowing us to understand what is happening within a warehouse in real-time. The wealth of experience and knowledge that Phil has in the logistics and supply chain sector will be invaluable to our business, enabling us to adapt to the evolving landscape and offer robust, modern and data agnostic solutions.”
On joining the imio Software Solutions Board of Directors, Professor Greening added: “imio Software Solutions is at the forefront of developing data capture capabilities; helping retailers centralise their data sources providing a holistic picture of their warehouse operations to understand machine and operator efficiencies. My academic work is all about systems and how companies can adapt in this space, so the software imio is developing is of great interest to me. My hope is that I can bring my industry insight to the business and help the team navigate this changing market.”