In recent years, many businesses across numerous different industries have faced prevailing retail supply chain issues. Evolving consumer expectations and market trends have made retail supply chains more unpredictable than ever before. However, these challenges can result in a loss of efficiency, productivity and ultimate profitability for modern businesses. Therefore, businesses must recognize the value of low-code enterprise application development tools to identify and address various retail supply chain challenges.
Low-code is defined as a graphic approach to enterprise application and software development that provides users with user-friendly drag-and-drop tools, integration tools, agility features and better security. Research indicates that the global low-code platform market is forecasted to generate a revenue of $187 billion by the year 2030, with a Compound Annual Growth Rate (CAGR) of 31.1%.
Low-code technology can help businesses access real-time data analytics that can facilitate more informed decision-making processes, identify inefficient business processes and potential vulnerabilities in the supply chain, design and automate various organizational workflows, build powerful and high-functioning enterprise applications that can improve communication between various intermediaries in the retail supply chain and much more.