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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.
Wyld and TrakAssure form partnership to offer global LoRaWAN satellite based IoT connectivity for asset tracking
Feb 22, 2022
Wyld Networks and TrakAssure LLC will integrate the Wyld Connect hybrid LoRaWAN satellite IoT connectivity solution into TrakAssure’s asset tracking IoT sensors for the supply chain market. The companies will also offer the joint end-to-end solution globally in other complementary IoT markets.
83% of organisations have increased supply chain investments, according to Blue Yonder survey
Feb 22, 2022
New research from Blue Yonder found that 97% of organisations faced disruption over the past 12 months. Factors outside of company control and the resulting consequences varied from company to company, with organisations facing customer delays (59%), stalled production (44%) and staff shortages (40%). As a result of this disruption, the supply chain has become a priority for nearly two thirds of businesses (63%).
Sustainability a key business priority, but company practices lag behind, comment from Interos CEO
Feb 22, 2022
In collaboration with Procurement Leaders, Interos, an operational resilience firm, has published research exhibiting the discordance between businesses’ intentions when it comes to sustainability and ESG issues and the practices put in place to ensure these priorities.
RELEX Solutions raises €500M, in Blackstone-led funding round
Feb 21, 2022
RELEX Solutions, provider of unified retail planning solutions, has announced the successful closure of a €500M funding round led by funds managed by Blackstone Growth (BXG), Blackstone’s growth equity investing business. Following the funding round, RELEX Solutions will hire hundreds of developers and experts to grow its technical team that already stands at over 400 people strong.
AstroPay becomes proud partner of Crystal Palace Football Club
Feb 21, 2022
AstroPay, the online payment solution of choice of over five million users in the world, has announced a high-profile sponsorship deal with Crystal Palace Football Club as the official training wear sponsor.
Jack Sealey nails down voice project with Dakota Integrated Solutions
Feb 16, 2022
Dakota Integrated Solutions Ltd, a real-time technology, printing, mobility and digital data capture solution specialist, has been awarded a contract to integrate its voice-directed software solution into Jack Sealey Ltd’s warehousing facility.
SnapFulfil client gets hands-on for quicker, slicker multi-site implementation
Feb 16, 2022
A leading online farmer-to-farmer and ag tech company has been able to fast-track its expansion plans thanks to a tailored ‘Self Implementation’ programme from WMS provider, SnapFulfil, that enables customers to onboard the solution themselves.
BigCommerce acquires Quote Ninja, Inc.
Feb 15, 2022
BigCommerce, the Open SaaS ecommerce platform for fast-growing and established brands, has acquired Quote Ninja, Inc. (dba B2B Ninja), a premier enterprise software solution providing business-to-business (B2B) ecommerce capabilities for merchants of all sizes.
Harper Dennis Hobbs to launch Metaverse consultancy for retailers
Feb 15, 2022
Harper Dennis Hobbs (HDH) has announced plans to become the first strategic retail consultant in the UK to provide consultancy for retailers looking to expand into the metaverse.
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.
