Tracking inventory solely within the four walls of a warehouse isn’t enough to stop shrinkage, says Eddie Misicka, vice president of product and solutions at OneRail.

A study by the IHL Group found that retailers miss out on nearly $1 trillion in sales per year because of out-of-stock items.

In a collaboration with Tive Inc., a tracking and software provider, Maersk designed a proof of concept for a means of keeping tabs on thousands of shipments without having to view each one individually. The higher-level view yielded surprising insights, and confirmed the value of tracking general cargo, not just time-sensitive, high-value shipments.

Supply chain disruption continues to be a challenge for retailers across the globe. Nevertheless, there are some proactive measures that retailers can take to mitigate risk.

Inventory distortion isn't just a problem for supply chain teams; it results in missed sales, dissatisfied customers, excess wastage and capital tied up in stocks.

The new system — launched as collaboration with beverage company Diageo — expands Asda's selection of liquor from up to 26 products to 50.

Ongoing disruption requires companies to make a fundamental shift in their supply chain strategy. What makes this transformation so difficult is that the scope of change required is extensive, involving many internal (and external) stakeholders, data and technology. 

Technological advancements like RFID and GPS have revolutionized supply chain management, providing visibility and rapid response capabilities, but also increasing risks such as cyber threats. A combination of physical barriers, technological solutions, and procedural controls creates redundancies that enhance resilience against threats like theft and tampering. 

In today's fast-paced logistics landscape, actionable data is critical to meet the demands of consumers' expectations. Navigating the complexities of data management amid labor shortages, volatility, and evolving consumer behavior poses significant challenges.