By Nick Sacke, Head of IoT and Products,Comms365.
Peak season trading this year is set to be more difficult than ever for retailers. Unprecedented supply chain disruption is threatening to decimate stock levels.
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.
A good connection is not just for Christmas
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The pandemic has changed how consumers in the UK do their Christmas shopping and retailers need to start preparing now for a different looking 2021 holiday peak season, new research has found.
Low Consumer Confidence in Supply Chains Prompts Early Holiday Shopping, Research from Bright Data Reveals
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Bright Data, a global industry leader in making public web data accessible to all, has released new research that reveals consumer sentiments around the 2021 holiday shopping season, including Black Friday and Cyber Monday.
The survey demonstrates critical need for retailers to develop strong, data-driven pricing strategies this holiday season.
53% of UK employees believe AI skills will make their job easier, according to ABBYY survey
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According to new global research from Digital Intelligence company ABBYY, 6-in-10 (64%) UK employees say their job is made more difficult through trouble accessing data in documents and 1-in-4 (27%) lose a full day of productivity per week searching documents for information they need to serve customers, higher than the global average.
Comment: M&S warns of rising supply chain costs
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By Rob Wright, executive director of international supply chain and logistics consultancy, SCALA.
We are likely to see many more businesses experiencing increased supply chain costs over the coming months, driven largely by a shortage of warehouse staff and, in particular, drivers to transport goods from warehouses to store shelves. To properly combat the issue, we need to see long-term increases in driver wages and better working conditions.
Targa Telematics launches Targa Smart Mobility
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Targa Telematics has launched Targa Smart Mobility, a solution that integrates all the various forms of shared mobility under a single platform.
Post-Covid UK beauty customers still prefer touch-and-try to AR
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New research shows that testing in-store is still instrumental when buying beauty and personal care products. Half (50%) of UK consumers cite testing beauty products in-store as a key factor before parting with their cash. This number rises to almost two-thirds (63%) of shoppers aged 25-34, and 58% aged 35-44.
EBE Technologies adds optical character recognition feature to its mobile solution
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Carriers can respond to shippers’ requests more quickly and with fewer resources, due to an optical character recognition (OCR) feature recently added to EBE Technologies’ SHIPSMobile enterprise solution.
Fashion retailer Modivo turns to display technology to create fully automated ‘physical’ shopping experience
Nov 09, 2021
European fashion retailer Modivo, has turned to display technology from PPDS to create and open a futuristic new store in Warsaw, combining the benefits of online and physical shopping for what is claimed to be a highly unique and transformative customer experience.
Teletrac Navman develops free road safety data dashboard to help improve safety on the roads
Nov 09, 2021
Teletrac Navman, the provider of telematics technology, has launched an interactive dashboard, which assimilates the data from the annual Department for Transport (DfT) ‘Reported Road Casualties in Great Britain’ report.
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.
