Businesses are always looking for new ways to enhance their customer experience. This could be through improved rewards programs, more responsive customer service, or any number of other improvements. Of course, many of these improvements cost money and increased costs can lead to increased prices, which, eventually, can lead to a decrease in customer satisfaction. Talk about a vicious cycle.
What if there was a way to both improve customer experience and reduce costs in a supply chain? Sounds like a pipe dream, right? Well, thanks to modern technology, that dream is a reality. Artificial intelligence can enhance the customer experience while keeping supply chain costs low.
There are a number of things customers say that they want from businesses to deliver an exceptional customer experience. Many of these wishes can be addressed with the help of artificial intelligence and implementing this new technology into supply chain management.
Better Shipping, Better Customer Satisfaction
The most basic goal of supply chain management is to get product out to customers in a timely manner. Of course, that’s an oversimplification of a complex process but the point still stands; customers are happy when they get their product on time. However, between fluctuations in order volume, weather changes, and a number of other factors, delivering on time isn’t always easy.
With artificial intelligence, delivering on time becomes a true science. Every single piece of data that goes into getting a product from point a to point b is analyzed with optimal solutions being presented. Everything down to choosing the most efficient routes for drivers can be affected. And, of course, this can mean lower costs for the business. With lower costs to ship that means that competitive pricing can be passed onto customers. And, it just so happens that customers look for free shipping as one of their top buying indicators.
Ramp Up for Busy Season
Every successful business has run into supply chain constraints. Perhaps unexpected orders came in that left the business scrambling to keep up with demand. As soon as an expected deadline is missed, the client experience has been damaged. Of course, no one has a crystal ball, so it’s impossible to predict when busier times will happen, right? Not so fast.
Artificial intelligence uses historical data to look for patterns and trends in order to predict future patterns and trends. Most importantly, it can crunch this data much more quickly than a human can. With better scheduling and trend prediction, supply chains can ensure they are ramping up production when needed, scheduling additional deliveries, and staying ahead of customer orders.
Now, instead of customers finding out the product they need is backordered, they will instead find that they can have it shipped to them quickly and without delay. Plus, with more efficient shipping, they might even get it faster than expected.
Providing Personalized Experiences
Everyone likes to feel they’re always the number one thing on a businesses’ mind. How can AI help provide this feeling to customers? Better personalization with artificial intelligence means that customers can get recommendations that are actually relevant to their needs. For example, AI can monitor a customer’s ordering habits and provide notification when they should consider purchasing again. This could give sales staff an opportunity to reach out personally with relevant, customized information that helps customers and makes them feel appreciated.
The same goes for new product recommendations. Artificial intelligence can compare orders from various customers, consider a range of other factors, and then provide smart product recommendations. All of this takes the customer experience to the next level. Many businesses spend hefty amounts on marketing to accomplish these same results.
Keeping Costs Low
Let’s face it, nothing makes a customer feel more appreciated than a good deal. Artificial intelligence can help supply chains deliver that as well. Through cost efficiencies discovered by AI, businesses can improve supply chain management, cut costs, and keep prices competitive for customers. Things like demand prediction, better scheduling, and integrating processes can all be managed by artificial intelligence. For businesses, this means lower costs and better efficiency.
There are two ways to improve budget numbers; either cut costs or increase revenue. Revenue increases may come in the form of increased prices to customers which is not an ideal customer experience. However, reduced costs can make net income numbers look nicer without having to negatively affect pricing for the customer. If anything, the customer should notice an improved experience through supply chain management efficiencies.
Better Customer Experiences with AI
Happy customers make for happy bottom lines. Artificial intelligence can change supply chain management for the better. While customers may not see behind the curtains to watch the changes happen before their own eyes, they can experience the changes every time they place an order. The next step in customer service will come from artificial intelligence. To learn more, contact Clover AI Direct today.