Innovation—key to management success ‘Hyperlocal supply chain’ Goritiya Chandravadan*, Ramdugwar Vaidehi** Principal, L.N. Welingkar Institute of Management Development & Research, Mumbai, Maharashtra, India *Corresponding author e-mail id: chandravadan.goritiyal@welingkar.org
**vaidehi2010ramdugwar@gmail.com
Online Published on 8 August, 2023. Abstract Hyperlocal online retail firms are proliferating in densely populated metropolitan regions globally. Speed is the imperative to hyperlocal delivery and the quicker it is, the more it will cost. Last-mile delivery expenses account for 41% of a product’s overall operational and logistic expenses. To compensate, companies opt to increase delivery charges as they couldn’t optimise their daily operational costs resulting in a gradual decrease of customer base and market share. Because of intense competition in this sector, there is a need to stand out from others. The efforts to provide customer delight with better speed, cost and convenience put a lot of pressure on the business which could cause severe disruptions to profitability. This article focuses on, effective warehousing and delivery optimisation techniques by suggesting usage of advanced technologies like AI/ML, Satellite Navigation and precision mapping to improve the productivity of business. Also, to be one step ahead of others, the article suggests to increase product lines by addition of tea, coffee, liquor and packaged food services on the delivery platform to improve consumer experience. Top Keywords Hyperlocal supply chain, Last-mile delivery, Profitability, Optimisation, Consumer experience. Top |