The 2022 ONS ‘Shopping basket’ has been announced, reflecting consumer spending habits. This year jackets, sports bras, craft kits, pet collars, anti-bacterial wipes and climbing sessions have been added, while suits, laminate flooring, dictionaries and doughnuts have been dropped. ParcelHero says the changes are down to COVID and the rise in home shopping.
Retail Supply Chain Management (RSCM)
Retail supply chain management (RSCM) is the process of managing the flow of goods and services from the initial production stage to the final customer. RSCM is essential for retailers to ensure that they have the right products in the right place at the right time. It can also help retailers to reduce costs, improve efficiency, and improve customer service.The term Retail is defined as the sale of goods and services from companies or individuals to the end-consumer. Retailers acquire goods from producers and then sell these goods in-store or on-line via the internet. Retail supply chain software can enhance supply chain efficiency and trading partner collaboration by better connecting product information, processes and trading partners.
Multimodal 2022 conference to focus on resilient sustainable supply chains
Mar 15, 2022
Supply chain experts will share insight into new logistics models and best practice for building resilient supply chains at Multimodal 2022 – 14th to 16th June at the Birmingham NEC.
Retail buyers and disruptive brands united on new digital 'match-making' platform
Mar 15, 2022
An automated ‘match-making’ platform has been launched by food consultancy The Good Food Group in a bid to partner the UK’s leading retail buyers with up-and-coming brands.
Zero Covid lockdowns to cause greater damage to China's supply chain than the Russia-Ukraine crisis
Mar 15, 2022
After two weeks since Russia’s invasion of Ukraine, there seems to be a negligible impact on the container prices and leasing rates in China. Container availability has improved soon after the Chinese New Year until Friday across key ports in China.
RangeMe attracts European beauty retailer Feelunique
Mar 15, 2022
Feelunique, a leading European online premium beauty retailer, has partnered with global product sourcing platform, RangeMe, to support their product buying teams, ensuring they have access to the most relevant products their customers demand.
Smart Retail Tech: The UK show bringing digital innovation to the retail sector
Mar 08, 2022
The 2nd and 3rd of March 2022 saw an impressive number of attendees consisting of a mixture of major retail chains and smaller retailers.
Consumers call on retailers to reduce waste to protect bottom line
Mar 08, 2022
More than half (58.0%) of UK consumers are more likely to shop with a supermarket that is actively reducing its food waste, with a quarter (25.5%) saying they are ‘much more likely’, according to a new report by Checkpoint Systems.
Barriers to cloud adoption remain, but security no longer the biggest inhibitor, says Cloud Industry Forum research
Mar 08, 2022
New research from the Cloud Industry Forum (CIF) has found that 32% of business and IT decision-makers believe security concerns are holding their organisation back from fully advancing technology usage. While security remains a key hurdle, it is no longer the main inhibitor to tech adoption, ranking behind lack of budget (34%) and legacy integration issues (44%).
How smart lockers are solving last mile delivery issues
Mar 08, 2022
By Jeff Broth, freelance writer.
The last mile has always posed challenges for logistics providers. Quickly changing delivery conditions, a relative lack of sophisticated storage technology, and high end-user expectations combine to make last-mile deliveries tricky to execute efficiently.
Segura warns retailers to prepare for the Taskforce on Climate related Financial Disclosure (TCFD)
Mar 07, 2022
Retailers need to be ready to act on the requirements of the Taskforce on Climate related Financial Disclosure (TCFD) or potentially risk a number of financial and reputational penalties, according to Segura, the platform for next-generation supply chain transparency.
Retail Supply Chain Management
Retail supply chain management (RSCM) is the process of managing the flow of goods, services, and information from suppliers to retailers to consumers. It includes all the activities involved in getting products from the point of origin to the point of sale, such as:
- Procurement: The process of acquiring raw materials and other inputs needed to produce goods.
- Manufacturing: The process of converting raw materials into finished goods.
- Warehousing: The storage of goods until they are needed.
- Transportation: The movement of goods from one location to another.
- Inventory management: The process of tracking and managing the levels of goods in stock.
- Order fulfillment: The process of filling customer orders.
RSCM is important for retailers because it can help them to improve their efficiency, reduce costs, and improve customer service. By optimizing their supply chains, retailers can ensure that they have the right products in the right place at the right time, which can lead to increased sales and profits.
Here are some of the key components of retail supply chain management:
- Planning: This involves developing a strategy for the supply chain, including setting goals, identifying risks, and developing contingency plans.
- Sourcing: This involves finding and qualifying suppliers, negotiating contracts, and managing supplier relationships.
- Manufacturing: This involves managing the production process, ensuring quality, and meeting delivery deadlines.
- Warehousing: This involves storing goods in a way that minimizes costs and ensures that they are available when needed.
- Transportation: This involves moving goods from one location to another in a timely and cost-effective manner.
- Inventory management: This involves tracking the levels of goods in stock and ensuring that there is enough to meet demand without excessive inventory levels.
- Order fulfillment: This involves receiving customer orders, picking and packing products, and shipping them to customers.
RSCM is a complex and ever-evolving field, but by understanding the key components and best practices, retailers can improve their supply chains and gain a competitive advantage.
Retail companies become involved in supply chain management in order to control product quality, inventory levels, timing, and expenses. Retail supply chain software encompasses warehouse & transportation solutions, inventory control, and possibly additional strategic/planning modules, particularly for the larger/volume-based retailers.
