Jim Tompkins Reveals New Insights on Omnichannel and Alternative Channels
Jim Tompkins, Tompkins International CEO
NASHVILLE, Tenn., August 26, 2014 — Jim Tompkins, CEO and renowned supply chain strategy expert, presented the opening keynote “Responding to the Alibaba Effect” today at the 10th annual Tompkins Supply Chain Leadership Forum.
“Alibaba’s transformational power will impact all businesses and their supply chains,” Tompkins said. “The Chinese e-commerce giant is investing heavily in global logistics and delivery channels, and its IPO next month in New York City is expected to be the largest in history. So no company is immune to the impacts of Alibaba.”
Tompkins revealed new insights not previously covered in his breakthrough video, The Alibaba Effect. Attendees learned the nine components that are necessary to respond to the transformations of business brought about by Alibaba and how to leverage alternative channels to grow their business.
“In a recent survey, about 65% of retailers and consumer products manufacturers said that they use alternative channels, and 12% more are considering using alternative channels,” Tompkins noted. “But surprisingly, less than a quarter of respondents were even familiar with Alibaba—the king of alternative channels.”
Omnichannel strategies, understanding forward and backward marketplaces, and using your supply chain as a competitive weapon were also highlighted in the keynote. Having all channels working together seamlessly (omnichannel) was hailed as the ultimate key to success.
“The future lies in building a flexible channel strategy that uses supply chain as its backbone and does not rely on any single channel,” Tompkins added. “All channels work together to bring customers the price, selection, experience and convenience that they crave in their buying experiences.”
About Tompkins International
Tompkins International is a professional services firm that provides new solutions for supply chain improvement. Tompkins enables client organizations to be more profitable and valuable, while also becoming more skilled, agile, and adaptive to leading practices. We collaborate with client teams to develop improved operations strategies, supply chain planning, and execution of all the Mega Processes of supply chains (PLAN – BUY – MAKE – MOVE – DISTRIBUTE – SELL). With headquarters in Raleigh, NC, Tompkins also has offices throughout North America and in Europe and Asia. For more information, visit www.tompkinsinc.com.